Woorigarak Korean Cultural Art Center
- Assets
- $7.5k
- Revenue
- $36.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Englewood Cliffs, NJ
- Founding
- 02/2019
- Data as of
- 12/2022
- EIN
- 82-4178217
Organization Overview
Woorigarak Korean Cultural Art Center is located in Englewood Cliffs, NJ. The organization was established in 2019. 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. Woorigarak Korean Cultural Art Center 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 12/2022, Woorigarak Korean Cultural Art Center generated $36.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (10.0%) each year. All expenses for the organization totaled $40.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.7%) per year over the past 5 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
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NJ CLOSTER KOREAN DAY (2/1/2023) 2022 LUNAR NEW YEAR FEAST AT MOKAH (2/5/2023)
WILLIAM PATERSON UNIVERSITY (10 MEMBERS, 3/22/2023)
KOREA DAY CELEBRATION IN PROVIDENCE RHODE ISLAND (8/14/2023) HTTPS://WWW.EVENTBRITE.COM/E/KOREA-DAY-CELEBRATION-IN-PROVIDENCE-RHODE-ISLAND-REGISTRATION-327716939187
GRAND CENTRAL TERMINAL AND CIPRIANI DISCOVER YOUR KOREA EVENT (12 MEMBERS) HTTPS://WWW.GRANDCENTRALTERMINAL.COM/EVENT/DISCOVER-YOUR-KOREA/
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eunjoo Kang Director | 20 | $0 | |
Chung E Baik Secretary | 0 | $0 | |
Steven D Kim Trustees | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $36,721 |
| 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 | $0 |
| Total Revenue | $36,721 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $18,000 |
| Travel, conferences, and meetings | $7,389 |
| Printing and publications | $0 |
| Other expenses | $11,640 |
| Total operating and administrative expenses | $37,629 |
| Contributions, gifts, grants paid | $2,500 |
| Total expenses and disbursements | $40,129 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,525 |
| 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 | $7,525 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
Grants Awarded
Over the last fiscal year, Woorigarak Korean Cultural Art Center has awarded $2,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KOREAN AMERICAN ASSOCIATION OF NEW JERSEY PURPOSE: DONATION | $2,000 |
KOREAN COMMUNITY CENTER PURPOSE: DONATION | $500 |