Korean World Mission Council
- Assets
- $20.6k
- Revenue
- $66.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Poway, CA
- Founding
- 11/2018
- Data as of
- 12/2020
- EIN
- 82-0937974
Organization Overview
Korean World Mission Council is located in Poway, CA. The organization was established in 2018. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean World Mission Council 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 12/2020, Korean World Mission Council generated $66.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (13.1%) each year. All expenses for the organization totaled $47.6k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (13.7%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SCHOLARSHIP AND TO PROMOTE SEMINARY STUDENTS TO COMMIT TO FULLFILL THE ENVANGELIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sun Ae Kim Secretary | 20 | $18,000 | |
Seung John Lee President | 30 | $9,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $55,853 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $10,850 |
| Total Revenue | $66,703 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $27,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $3,446 |
| Interest | $0 |
| Taxes | $50 |
| Depreciation | $0 |
| Occupancy | $8,300 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,604 |
| Total operating and administrative expenses | $47,550 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $47,550 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,554 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $20,554 |
| Accounts payable and accrued expenses | $573 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $573 |
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