Korean Center Incorporated
- Assets
- $676.4k
- Revenue
- $544.0k
- Investments
- $0.0
- Employees
- 15
- Location
- San Francisco, CA
- Founding
- 12/1975
- Data as of
- 12/2023
- EIN
- 51-0173831
Organization Overview
Korean Center Incorporated is located in San Francisco, CA. The organization was established in 1975. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. As of 12/2023, Korean Center Incorporated employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean Center Incorporated 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, Korean Center Incorporated generated $544.0k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $658.5k during the year ending 12/2023. While expenses have increased by 9.2% 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
KOREAN CENTER, INC. (KCI) PROVIDES EDUCATIONAL, CULTURAL, AND SOCIAL ACTIVITIES TO THE ELDERLY, CHILDREN, NEW IMMIGRANTS, UNEMPLOYED, AND OTHERS SEEKING SERVICES AND PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OFFICE ON AGING: PROVIDE WELFARE AND EDUCATION FOR ELDERLY PERSONS, UNEMPLOYED ADULTS AND NEWLY IMMIGRATED PERSONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phil Kang Chair | OfficerTrustee | 3 | $0 |
Korina Park Director | Trustee | 1 | $0 |
Sarah Kim-Lee Director | Trustee | 1 | $0 |
Sylvia Lee Director | Trustee | 1 | $0 |
Anny Hong Director | Trustee | 1 | $0 |
Rachel Shay Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $150,718 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,718 |
| Total Program Service Revenue | $199,991 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $126,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $53,747 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $543,952 |
| 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 | $420,854 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,715 |
| Payroll taxes | $39,468 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $43,666 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,531 |
| Office expenses | $36,959 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,678 |
| Travel | $0 |
| 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 | $23,084 |
| Insurance | $9,713 |
| All other expenses | $0 |
| Total functional expenses | $658,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $249,402 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,059 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $423 |
| Prepaid expenses and deferred charges | $7,876 |
| Net Land, buildings, and equipment | $412,637 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $676,397 |
| Accounts payable and accrued expenses | $7,849 |
| 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 | $7,849 |
| Net assets without donor restrictions | $668,548 |
| 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 | $676,397 |