Korean Institute Of Minnesota
- Assets
- $135.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Golden Valley, MN
- Founding
- 02/1979
- Data as of
- 08/2023
- EIN
- 41-1338929
Organization Overview
Korean Institute Of Minnesota is located in Golden Valley, MN. The organization was established in 1979. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean Institute Of Minnesota 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 08/2023, Korean Institute Of Minnesota generated $67.8k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 24.0% each year . All expenses for the organization totaled $53.9k during the year ending 08/2023. While expenses have increased by 20.8% per year over the past 2 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
IN 2023, THE KOREAN INSTITUTE OF MINNESOTA COMPLETED ITS 48TH YEAR OF PROVIDING COMMUNITY BASED KOREAN LANGUAGE AND CULTURAL EDUCATION TO HUNDREDS OF STUDENTS. IN ADDITION, THE ORGANIZATION CULTIVATED WORKING PARTNERSHIPS AND COLLABORATIONS WITH THE KOREAN ADOPTEES MINISTRY CENTER AND WAS HONORED TO WORK TOGETHER WITH THE CHINESE COMMUNITY CENTER AND THE JAPAN AMERICA SOCIETY OF MINNESOTA TO DO OUTREACH WITH THE MN STORY COLLECTIVE INITIATIVE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andres Gelabert Board Chair | 1 | $0 | |
Nicki Earley Board Treasurer | 1 | $0 | |
Jennifer Arndt-Johns Interim Secretary And Director | 10 | $12,000 | |
Yoonju Park Member | 1 | $0 | |
Hyun Ae Kim Member | 1 | $0 | |
Kari Scanlon Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,516 |
| Total Program Service Revenue | $59,125 |
| Membership dues | $0 |
| Investment income | $130 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $67,771 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $30,570 |
| Occupancy, rent, utilities, and maintenance | $1,500 |
| Printing, publications, postage, and shipping | $984 |
| Other expenses | $10,083 |
| Total expenses | $53,937 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $134,574 |
| Other assets | $0 |
| Total assets | $135,302 |
| Total liabilities | $25,322 |
| Net assets or fund balances | $109,980 |