Koreatown Oakland
- Assets
- $445.3k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 9
- Location
- Oakland, CA
- Founding
- 03/2009
- Data as of
- 12/2023
- EIN
- 41-2260418
Organization Overview
Koreatown Oakland is located in Oakland, CA. The organization was established in 2009. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Koreatown Oakland employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Koreatown Oakland 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 12/2023, Koreatown Oakland generated $1.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 11.9% per year over the past 9 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MAINTENANCE, SECURITY AND PHYSICAL IMPROVEMENT TO THE BUSINESS DISTRICT. PROVIDE MARKETING SERVICES AND MATERIALS TO PROMOTE KOREA TOWN OAKLAND COMMUNITY THROUGH SPECIAL EVENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROWSO:PROWSO STANDS FOR PUBLIC RIGHT OF WAY AND SIDEWALK OPERATIONS. AS PART OF THE FUNCTION OF ORGANIZATION WE ARE TO ASSIST THE MUNICIPAL CORPORATION AND OAKLAND TO EASE THE BURDEN AND CITY SERVICES.WE LESSEN THE BURDEN BY PROVIDING SIDEWALK SWEEPING SERVICES, PAINTING OUT GRAFFITI, PROVIDE DIRECTIONS TO VISITORS IN THE AREA, PROVIDING SUPPLEMENTAL SECURITY SERVICES TO ASSIST THE OAKLAND POLICE DEPARTMENT IN MAINTAINING AREA IN THE COMMUNITY.
OAKLAND FIRST FRIDAY:OAKLAND FIRST FRIDAYS IS AN IMMERSIVE ART AND COMMUNITY EXPERIENCE ON THE FIRST FRIDAY OF EACH MONTH ON TELEGRAPH AVENUE FROM WEST GRAND TO 27TH STREET. EVERY FIRST FRIDAY FROM 5-9:30PM, OAKLAND'S KONO DISTRICT SPRINGS TO LIFE WITH FOR THIS EVENT, WITH GALLERIES, ARTIST CELLETIVES, STREET ARTISTS, LOCAL CULINARY ARTISANS, PERFORMERS, MUSICIANS, DANCERS, DJ'S, AND POETS GATHERING FOR OAKLAND FIRST FRIDAY EVENTS.
MARKETING/IDENTITIY ENHANCEMENT:PART OF THE FUNCTION OF OUR CORPORATION IS TO BUILD BRAND IDENTITY FOR THE VARIETY OF BUSINESSES AND RESIDENTS OF THE AREA.THE KOREATOWN NORTHGATE DISTRICT IS A TRADITIONAL MIXED USE NEIGHBORHOOD THAT COMBINES RESIDENTIAL, INSTITUTIONAL PLUS A WIDE VARIETY OF ETHNIC RETAIL LAND USES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Wilk President | Trustee | 2 | $0 |
H Joseph Jung President | Trustee | 2 | $0 |
Sonja Brooks Vice President | Trustee | 0 | $0 |
Michael Thaler Treasurer | Trustee | 1 | $0 |
Ryan Thomas Board Member | Trustee | 0 | $0 |
Mindy Landmark Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $150 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,628 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,778 |
| Total Program Service Revenue | $660,823 |
| 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 | $1,001,865 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $306,723 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $73,134 |
| Payroll taxes | $42,707 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,996 |
| Advertising and promotion | $0 |
| Office expenses | $10,301 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,106 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $343 |
| Insurance | $5,888 |
| All other expenses | $16,663 |
| Total functional expenses | $1,154,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $440,920 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,090 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,290 |
| Total assets | $445,300 |
| Accounts payable and accrued expenses | $0 |
| 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 | -$6,921 |
| Total liabilities | -$6,921 |
| Net assets without donor restrictions | $452,221 |
| 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 | $445,300 |