Korean Grocery Association Of Oregon
- Assets
- $290.5k
- Revenue
- $196.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Portland, OR
- Founding
- 08/1994
- Data as of
- 12/2021
- EIN
- 93-0977273
Organization Overview
Korean Grocery Association Of Oregon is located in Portland, OR. The organization was established in 1994. 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. Korean Grocery Association Of Oregon is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Korean Grocery Association Of Oregon generated $196.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $143.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.9%) per year over the past 7 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
TO PROVIDE HELP, PROMOTE, PROTECT KOREAN-AMERICAN GROCERS IN THE STATE OF OREGON THROUGH EDUCATION AND PROVIDING RELEVANT INFORMATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLISHED AND DISTRIBUTED NEWSLETTERS TO MEMBERS EACH MONTH, TO INFROM ABOUT PROMOTIONS AND SPECIAL PROGRAMS FROM VENDORS, RO EDUCATE MEMBERS ABOUT ANY NEW OR PENDING TRADE ISSUES AND PROVIDED ARTICLES ABOUT ECONOMIC OUTLOOK, VISA/MASTERCARD SURCHARGE REGUATIONS ETC. AWARDED SCHOLARSHIPS TO ASSIST ACADEMICALLY OUTSTANDING COLLEGE BOUND HIGH SCHOOL AND COLLEGE STUDENTS TO ENCOURAGE THEM TO PURSUE HIGHER EDUCATION AND TO BECOME A PRODUCTIVE MEMBERS OF THIS GREAT COUNTRY OF OURS. PARICIPATED VARIOUS COMMUNITY ORGANIZATIONS EVENTS TO PROMOTE OUR ORGANIZATIONS PUBLIC RELATIONS THROUGH PARTICIPATION, EVENT SPONSORSHIP, GRANDS AND MEDIA ADVERTISMENTS. HELD ANNUAL EVENTS WITH VENDORS, MEMBERS AND COMMUNITY MEMBERS TO IMPROVE RELATIONSHIP AND TO CREATE STRONGER TRADE BONDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jung Hyun Kim Secretary General | OfficerTrustee | 5 | $0 |
Jungsoo Lee Board Menber | Trustee | 5 | $0 |
Sullivan Chong President | OfficerTrustee | 5 | $0 |
Youngman Yu Treasurer | OfficerTrustee | 5 | $0 |
Chang Kwon Lee Board Member | Trustee | 5 | $0 |
Insoo Kim Board Member | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,200 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,200 |
| Total Program Service Revenue | $193,075 |
| Investment income | $0 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $196,301 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $93,073 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $150 |
| Office expenses | $13,728 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $143,522 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $287,851 |
| 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 |
| Net Land, buildings, and equipment | $2,657 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $290,508 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $290,508 |
| 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 | $290,508 |
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