Korean-American Scientists And Engineers Association Inc
- Assets
- $6.5m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 4
- Location
- Vienna, VA
- Founding
- 06/1977
- Data as of
- 06/2022
- EIN
- 52-0963402
Organization Overview
Korean-American Scientists And Engineers Association Inc, operating under the name Associations Inc, is located in Vienna, VA. The organization was established in 1977. According to its NTEE Classification (U42) the organization is classified as: Engineering, under the broad grouping of Science & Technology and related organizations. As of 06/2022, Associations Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Associations 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 06/2022, Associations Inc generated $2.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $5.5m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CONTRIBUTE TO THE SOCIAL WELFARE AND THE INDUSTRIAL DEVELOPMENT IN THE USA AND KOREA THROUGH THE PROMOTION OF SCIENCE AND ENGINEERING. PROMOTE COOPERATION BETWEEN THE USA AND KOREA IN SCIENCE AND ENGINEERING.
Describe the Organization's Program Activity:
MEMBERSHIP DEVELOPMENT PROGRAM
SCIENTIFIC & ENGINEERING PROJECT AND SCHOLARSHIP
CONFERENCE/SEMINAR
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 |
|---|---|---|---|
Young-Kee Kim President | Trustee | 15 | $0 |
Jae Ryu Vice Preside | Trustee | 10 | $0 |
Sam Chung Vice Preside | Trustee | 10 | $0 |
Il Minn Executive Di | Trustee | 10 | $0 |
Kate Hyun Financial Di | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,060,263 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,162 |
| 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 | $2,065,425 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $158,942 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,638 |
| Payroll taxes | $12,238 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,042 |
| Fees for services: Accounting | $2,140 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,948 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $707,412 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $37,556 |
| All other expenses | $0 |
| Total functional expenses | $5,450,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,158,172 |
| 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 |
| Investments—publicly traded securities | $5,379,457 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,537,629 |
| 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 | $48,136 |
| Total liabilities | $48,136 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $6,489,493 |