Korean American Association Of Chicago
- Assets
- $554.8k
- Revenue
- $384.2k
- Investments
- $0.0
- Employees
- 1
- Location
- Glenview, IL
- Founding
- 10/1984
- Data as of
- 06/2022
- EIN
- 36-3235868
Organization Overview
Korean American Association Of Chicago is located in Glenview, IL. The organization was established in 1984. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean American Association Of Chicago 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 06/2022, Korean American Association Of Chicago generated $384.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $88.9k during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE THE STATUS OF THE KOREAN COMMUNITY IN MAINSTREAM AMERICAN SOCIETY, ADVANCE CIVIL RIGHTS FOR KOREAN AMERICANS, GUIDE THE TRANSITION OF NEWLY-ARRIVED KOREAN IMMIGRANTS, PROVIDE JOB-MARKET INFORMATION,
Describe the Organization's Program Activity:
Part 3 - Line 4a
INAUGURATION CEREMONY
NEXT GENERATION CONFERENCE
03.01 CEREMONY
DONATION & OUTREACH $5,018.60
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jae Eun Heo Vice President | Trustee | 40 | $12,000 |
Julie Choi President | Trustee | 40 | $0 |
Heewan Kwon Director | Trustee | 0 | $0 |
Kyonghui Angela Kim Director | Trustee | 0 | $0 |
Kiran Kim Director | Trustee | 0 | $0 |
Michelle Kim Vice Chairman | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $6,740 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $25,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $95,436 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $127,176 |
| Total Program Service Revenue | $360 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $256,643 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $384,179 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $19,710 |
| Compensation of current officers, directors, key employees. | $19,710 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,637 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,221 |
| Office expenses | $17,745 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $75 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,693 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2 |
| Insurance | $2,035 |
| All other expenses | $0 |
| Total functional expenses | $88,866 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $434,420 |
| Savings and temporary cash investments | $87,376 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $33,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $554,796 |
| Accounts payable and accrued expenses | $2,197 |
| 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 | $0 |
| Total liabilities | $2,197 |
| Net assets without donor restrictions | $540,159 |
| Net assets with donor restrictions | $12,440 |
| 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 | $554,796 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Korean American Association Of Chicago has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Bisco Charitable Foundation Schaumburg, IL PURPOSE: GENERAL FUND | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Asi Chicago, IL | $3,134,379 | $11,430,726 |
International Institute Of Metropolitan St Louis St Louis, MO | $9,841,784 | $12,477,327 |
Polish American Association Chicago, IL | $1,991,502 | $4,071,421 |
Vietnamese Asso Of Illinois Chicago, IL | $4,714,185 | $4,469,356 |
Mano A Mano Family Resource Center Round Lake Park, IL | $3,122,360 | $5,588,337 |
Latin Women In Action Chicago, IL | $4,477,554 | $4,949,993 |
Exodus Refugee Immigration Inc Indianapolis, IN | $2,775,622 | $4,589,376 |
Cambodian Association Of Illinois Chicago, IL | $4,072,556 | $4,104,880 |
Centro Hispano Inc Madison, WI | $3,216,741 | $3,811,848 |
Frida Kahlo Community Organization Chicago, IL | $454,042 | $3,343,509 |
Arab American Family Services Worth, IL | $1,701,643 | $3,700,099 |
The Hana Center Chicago, IL | $5,725,046 | $4,918,270 |