Korean Gospel Broadcasting Company Inc
- Assets
- $5.8m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 28
- Location
- Anaheim, CA
- Founding
- 12/1997
- Data as of
- 12/2021
- EIN
- 33-0451487
Organization Overview
Korean Gospel Broadcasting Company Inc is located in Anaheim, CA. The organization was established in 1997. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Korean Gospel Broadcasting Company Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean Gospel Broadcasting Company Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Korean Gospel Broadcasting Company Inc generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (21.6%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (16.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BROADCASTING GOSPEL AND VARIOUS RELIGIOUS PROGRAMS VIA AM 1190 24 HOURS EVERYDAY
Describe the Organization's Program Activity:
Part 3 - Line 4a
BROADCASTING GOSPEL AND VARIOUS RELIGIOUS PROGRAM VIA AM 1190 24 HOURS EVERYDAY
GRANTED THE FUND TO KOREAN GOSPEL BROADCASTING NETWORK TO KEEP OWNERSHIP OF AM 1190 RADIO STATION
MANNA MILL - PROVIDING LUNCHES FOR PEOPLE WHO ARE SUFFERING ECONOMIC HARDSHIP BY COVID-19 PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Young Sun Lee President | OfficerTrustee | 40 | $36,000 |
Jungwoo Baek Director | Trustee | 1 | $0 |
Jeong Kii Min Director | Trustee | 1 | $0 |
Joshua Nam Director | Trustee | 1 | $0 |
Joon Sik Kim Director | Trustee | 1 | $0 |
Hyuk Been Kwon Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $331,997 |
| Related organizations | $0 |
| Government grants | $106,392 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,246,404 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,684,793 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,684,793 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $582,600 |
| Grants and other assistance to domestic individuals. | $45,550 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $36,000 |
| Compensation of current officers, directors, key employees. | $36,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $394,814 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $87,971 |
| Payroll taxes | $60,180 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,500 |
| Fees for services: Accounting | $2,883 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,159 |
| Advertising and promotion | $4,800 |
| Office expenses | $27,810 |
| Information technology | $25,189 |
| Royalties | $0 |
| Occupancy | $16,920 |
| Travel | $4,604 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $61,741 |
| Interest | $45,795 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $93,775 |
| Insurance | $11,207 |
| All other expenses | $58,659 |
| Total functional expenses | $1,788,177 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,056,909 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $750,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $657 |
| Net Land, buildings, and equipment | $2,966,308 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $6,933 |
| Other assets | $32,000 |
| Total assets | $5,812,807 |
| Accounts payable and accrued expenses | $16,127 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,841,150 |
| Total liabilities | $2,857,277 |
| Net assets without donor restrictions | $2,955,530 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,812,807 |
Grants Awarded
Over the last fiscal year, Korean Gospel Broadcasting Company Inc has awarded $566,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KGBN | | | $560,000 |
MILAL MISSION | | | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Korean Gospel Broadcasting Company Inc has recieved totaling $8,500.
| Awarding Organization | Amount |
|---|---|
Cornerstone Ministries International Tustin, CA | | $6,000 |
Ojh Foundation Fullerton, CA PURPOSE: SUPPORT RELIGIOUS RADIO STATION | $1,500 |
Zion Mountain Foundation 12302009 Upland, CA PURPOSE: NPO SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amazing Facts International Granite Bay, CA | $89,775,280 | $35,047,793 |
Kingdom Causes Long Beach, CA | $4,022,983 | $21,219,613 |
Youth With A Mission San Diego-Baja Chula Vista, CA | $22,048,486 | $17,148,909 |
Christ-Centered Ministries Inglewood, CA | $3,642,191 | $13,458,260 |
Neighborhood Ministries Inc Phoenix, AZ | $8,839,353 | $14,695,989 |
Latino Coalition For Community Leadership Bakersfield, CA | $2,661,885 | $14,445,845 |
Hope Services Hawaii Inc Hilo, HI | $6,998,663 | $14,894,055 |
Living Stream Anaheim, CA | $110,298,756 | $20,926,950 |
Luis Palau Association Portland, OR | $14,968,196 | $16,675,451 |
Rescue International Dana Point, CA | $7,874,025 | $9,695,100 |
Community Build Inc Los Angeles, CA | $3,997,471 | $9,365,253 |
Lake Mission Viejo Association Mission Viejo, CA | $11,099,981 | $7,973,182 |