Korean School Foundation Inc
- Assets
- $157.8k
- Revenue
- $105.4k
- Investments
- $0.0
- Employees
- 6
- Location
- Anchorage, AK
- Founding
- 01/1984
- Data as of
- 08/2021
- EIN
- 92-0092705
Organization Overview
Korean School Foundation Inc, operating under the name Anchorage Korean Language School, is located in Anchorage, AK. The organization was established in 1984. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 08/2022, Anchorage Korean Language School employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Anchorage Korean Language School 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 08/2021, Anchorage Korean Language School generated $105.4k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $30.9k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (25.3%) per year over the past 3 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
KOREAN LANGUAGE AND CULTURAL EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING LANGUAGE CLASSES ON KOREAN LANGUAGE, CULTURE, AND ART TO ENROLLED STUDENTS THE AGES RANGES ARE FROM 4 YEARS OLD TO ADULT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Esther Choi Secretary | OfficerTrustee | 1 | $0 |
Hojin Park President | OfficerTrustee | 5 | $0 |
Kap-Sun Enders Vice President | OfficerTrustee | 1 | $0 |
Seunghyun Oh Treasurer | OfficerTrustee | 1 | $0 |
Kathy Kim Director | Trustee | 1 | $0 |
Eujin M Choi 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 | $32,014 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $32,014 |
| Total Program Service Revenue | $6,736 |
| Investment income | $3 |
| 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 | $66,623 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $105,376 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,500 |
| 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 | $8,917 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,136 |
| Payroll taxes | $803 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $464 |
| Advertising and promotion | $2,580 |
| Office expenses | $497 |
| 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 | $2,273 |
| Interest | $0 |
| Payments to affiliates | $300 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,519 |
| All other expenses | $0 |
| Total functional expenses | $30,928 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $144,603 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,188 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $157,791 |
| Accounts payable and accrued expenses | $169 |
| 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 | $169 |
| Net assets without donor restrictions | $157,622 |
| 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 | $157,791 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Korean School Foundation Inc has recieved totaling $10,522.
| Awarding Organization | Amount |
|---|---|
Denali Foundation Anchorage, AK PURPOSE: GENERAL SUPPORT FOR PUBLIC CHARITY | $10,000 |
Rasmuson Foundation Anchorage, AK PURPOSE: GENERAL SUPPORT | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $22 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Choice Regional Health Network Olympia, WA | $24,377,222 | $13,582,793 |
Seattle Public Library Foundation Seattle, WA | $96,431,810 | $10,213,683 |
Clark Community College District 14 Foundation Vancouver, WA | $121,917,031 | $11,491,033 |
Central Washington University Foundation Ellensburg, WA | $48,919,247 | $7,605,095 |
Green River College Foundation Auburn, WA | $36,981,286 | $4,351,003 |
Regent College Foundation Seattle, WA | $182,703 | $2,359,102 |
Skagit Valley College Foundation C-12 Campus Center Building Mount Vernon, WA | $21,510,181 | $4,966,852 |
Bellevue College Foundation Bellevue, WA | $20,830,969 | $3,738,289 |
Gonzaga Law School Foundation Spokane, WA | $33,516,870 | $3,721,030 |
University Club -Of Seattle- Seattle, WA | $5,781,343 | $2,415,827 |
Central Washington School Employees Benefit Trust Yakima, WA | $0 | $1,235,104 |
Hillel The Foundation For Jewish Campus Life Seattle, WA | $10,321,966 | $1,263,940 |