San Francisco & Bay Area Korea Center
- Assets
- $2.9m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- San Franciso, CA
- Founding
- 07/1992
- Data as of
- 12/2023
- EIN
- 94-3075783
Organization Overview
San Francisco & Bay Area Korea Center is located in San Franciso, CA. The organization was established in 1992. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. San Francisco & Bay Area Korea 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 12/2023, San Francisco & Bay Area Korea Center generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 42.1% each year . All expenses for the organization totaled $176.1k during the year ending 12/2023. While expenses have increased by 3.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE KOREAN AMERICAN COMMUNITY CENTER OF SAN FRANCISCO AND BAY AREA (KACCSF) IS TO BUILD COMMUNITY AND ENHANCE THE QUALITY OF LIFE FOR THE KOREAN AMERICAN RESIDENTS IN THE SAN FRANCISCO AND BAY AREA. WE ARE A PLACE-BASED COMMUNITY DEVELOPMENT ORGANIZATION SERVING PRIMARILY THE SAN FRANCISCO NEIGHBORHOOD, AND ALSO SERVE THE BAY AREA. WE ARE A COMMUNITY DEVELOPMENT ORGANIZATION WITH MANY ROLES - AS NEIGHBORHOOD ADVAOCATES FOR KOREAN AMERICANS, ORGANIZERS AND PLANNERS OF VARIOUS KOREAN AMERICAN HERITAGE CELEBRATIONS, AND AS EDUCATION CENTER FOR KOREAN AMERICAN CULTURES INCLUDING THE KOREAN LANGUAGE AND THE VARIOUS KOREAN ARTS. KOREAN AMERICAN COMMUNITY OF SAN FRANCISCO & BAY AREA ASSISTS ALL KOREAN AMERICANS IN SAN FRANCISCO AND THE BAY AREA AND PROMOTES THE CULTURAL, SOCIAL, EDUCATIONAL, AND ECONOMIC PROGRESS OF KOREAN AMERICAN. THE ORGANIZATION BUILDS AN ALTERNATIVE COMMUNITY WHERE KOREAN AMERICANS CAN BRIDGE THE CULTURAL GAP BETWEEN KOREAN AMERICANS AND OTHER ETHNIC COMMU
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE KOREAN AMERICAN COMMUNITY CENTER OF SAN FRANCISCO AND BAY AREA (KACCSF) IS TO BUILD COMMUNITY AND ENHANCE THE QUALITY OF LIFE FOR THE KOREAN AMERICAN RESIDENTS IN THE SAN FRANCISCO AND BAY AREA. WE ARE A PLACE-BASED COMMUNITY DEVELOPMENT ORGANIZATION SERVING PRIMARILY THE SAN FRANCISCO NEIGHBORHOOD, AND ALSO SERVE THE BAY AREA. WE ARE A COMMUNITY DEVELOPMENT ORGANIZATION WITH MANY ROLES - AS NEIGHBORHOOD ADVAOCATES FOR KOREAN AMERICANS, ORGANIZERS AND PLANNERS OF VARIOUS KOREAN AMERICAN HERITAGE CELEBRATIONS, AND AS EDUCATION CENTER FOR KOREAN AMERICAN CULTURES INCLUDING THE KOREAN LANGUAGE AND THE VARIOUS KOREAN ARTS. KOREAN AMERICAN COMMUNITY OF SAN FRANCISCO & BAY AREA ASSISTS ALL KOREAN AMERICANS IN SAN FRANCISCO AND THE BAY AREA AND PROMOTES THE CULTURAL, SOCIAL, EDUCATIONAL, AND ECONOMIC PROGRESS OF KOREAN AMERICAN. THE ORGANIZATION BUILDS AN ALTERNATIVE COMMUNITY WHERE KOREAN AMERICANS CAN BRIDGE THE CULTURAL GAP BETWEEN KOREAN AMERICANS AND OTHER ETHNIC COMMUNITIES IN SAN FRANCISCO AND BAY AREA THROUGH EDUCATING THE PUBLIC ABOUT THE KOREAN CULTURE AND DIVERSE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan H Kim President | OfficerTrustee | 5 | $0 |
Jee Soo Kim Secretary | OfficerTrustee | 1 | $0 |
Yeonsook P Sasaki CFO | OfficerTrustee | 5 | $0 |
Soon Ran Kim Director | Trustee | 5 | $0 |
Linda Rail Park Director | OfficerTrustee | 1 | $0 |
Heesook Noh Director | OfficerTrustee | 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 | $1,420,392 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,420,392 |
| Total Program Service Revenue | $0 |
| Investment income | $10,389 |
| 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 | $1,430,781 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,000 |
| Grants and other assistance to domestic individuals. | $1,500 |
| 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 | $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 | $2,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100 |
| Advertising and promotion | $900 |
| Office expenses | $1,934 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,450 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,436 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $107,549 |
| Insurance | $7,289 |
| All other expenses | $3,653 |
| Total functional expenses | $176,128 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,384 |
| 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 | $2,821,621 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,888,005 |
| 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 | $2,888,005 |
| 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 | $2,888,005 |