Korean American Family Services Inc
- Assets
- $2.7m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 43
- Location
- Los Angeles, CA
- Founding
- 05/1984
- Data as of
- 06/2021
- EIN
- 95-3899329
Organization Overview
Korean American Family Services Inc, operating under the name Kfam, is located in Los Angeles, CA. The organization was established in 1984. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. As of 06/2021, Kfam employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kfam 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 06/2021, Kfam generated $3.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.0%) each year. All expenses for the organization totaled $3.0m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (8.0%) 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 EMPOWER UNDERSERVED KOREAN AMERICAN AND ASIAN PACIFIC ISLANDER FAMILIES THROUGH CULTURALLY RESPONSIVE PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILD CARE FOOD PROGRAM - THE CHILD CARE FOOD PROGRAM (CCFP) IS A FEDERAL AND STATE FUNDED PROGRAM THAT PLAYS A VITAL ROLE IN HELPING MANY LOW-INCOME CHILDREN TO RECEIVE HEALTHY AND NUTRITIOUS MEALS. THE CCFP HOME AND CENTER REPRESENTATIVES TRAIN, ADVISE, AND MONITOR HUNDREDS OF LICENSED CHILD DAY CARE PROVIDERS TO ENSURE THAT OVER 4,000 CHILDREN ENJOY NUTRITIOUS MEALS AND SNACKS EVERY DAY. CCFP HOME OVERSEES LICENSED IN-HOME CHILD DAY CARE PROVIDERS AND CCFP CENTER OVERSEES LICENSED DAY CARE CENTERS.
DOMESTIC VIOLENCE PROGRAM - THE DOMESTIC VIOLENCE PROGRAM (DV) PROVIDES BILINGUAL/BICULTURAL INTERVENTION AND PREVENTION SERVICES TO DV-IMPACTED INDIVIDUALS AND FAMILIES, INCLUDING 24-HOUR CRISIS HOTLINE, CASE MANAGEMENT AND EMPOWERMENT SERVICES FOR VICTIMS, SURVIVORS SUPPORT GROUP, BATTERERS INTERVENTION PROGRAM, CHILD SUPERVISED VISITATION, CHILD ABUSE PREVENTION/INTERVENTION, PREVENTION EDUCATION, TRAININGS, AND REFERRAL PARTNERSHIPS WITH CHURCHES AND COMMUNITY GROUPS.
ASIAN FOSTER FAMILY INITIATIVE - AS THE NATION'S FIRST AND ONLY ASIAN PACIFIC ISLANDER-FOCUSED FOSTER FAMILY AGENCY, KFAM PROVIDES RECRUITMENT, TRAINING AND SUPPORT FOR ASIAN AMERICAN FOSTER PARENTS TO PROVIDE CULTURALLY NURTURING AND SAFE TEMPORARY HOMES TO FOSTER CHILDREN. SERVICES ARE PROVIDED IN ENGLISH, KOREAN, CHINESE, TAGALOG AND VIETNAMESE. PREVENTION AND INTERVENTION PROGRAMS, PARENTING WORKSHOPS, SUPERVISED VISITATIONS WITH BIRTH PARENTS AND OTHER FAMILY SUPPORT SERVICES.
COUNSELING PROGRAMS - KFAM PROVIDES FREE AND LOW-COST MENTAL HEALTH COUNSELING SERVICES IN ENGLISH AND KOREAN INCLUDING INDIVIDUAL AND FAMILY COUNSELING PSYCHIATRIC EVALUATIONS, MEDICATION SUPPORT, GROUPS COUNSELING, PSYCHO-EDUCATION, PARENTING SKILLS, AND MENTAL WELLNESS WORKSHOPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Yoo Vice-Chairperson | OfficerTrustee | 2 | $0 |
Eugene Kim Treasurer | OfficerTrustee | 1 | $0 |
Lisa Yang Secretary | OfficerTrustee | 1 | $0 |
Nancy Pak Board Chair | OfficerTrustee | 2 | $0 |
Katherine Yeom Executive Director | Officer | 45 | $0 |
Elisa Lee Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $14,358 |
| Related organizations | $0 |
| Government grants | $2,806,153 |
| All other contributions, gifts, grants, and similar amounts not included above | $688,304 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,508,815 |
| Total Program Service Revenue | $36,879 |
| Investment income | $689 |
| 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 | $3,546,383 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $1,001,663 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $88,356 |
| Payroll taxes | $84,227 |
| 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 | $70,325 |
| Advertising and promotion | $27,677 |
| Office expenses | $35,916 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $100,452 |
| Travel | $3,237 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,311 |
| Interest | $2,063 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,397 |
| Insurance | $25,518 |
| All other expenses | $55,900 |
| Total functional expenses | $3,012,822 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,501,379 |
| Savings and temporary cash investments | $180,639 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $847,584 |
| 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 | $22,882 |
| Net Land, buildings, and equipment | $98,585 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,651,069 |
| Accounts payable and accrued expenses | $566,450 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $716,450 |
| Net assets without donor restrictions | $1,789,619 |
| Net assets with donor restrictions | $145,000 |
| 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 | $2,651,069 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Korean American Family Services Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Oh Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Latino Network Portland, OR | $14,141,237 | $24,219,823 |
International Institute Of Los Angeles Los Angeles, CA | $9,181,850 | $14,413,283 |
United American Indian Involvement Los Angeles, CA | $19,669,304 | $14,688,054 |
Koreatown Youth And Community Center Inc Los Angeles, CA | $5,959,356 | $13,191,369 |
The Fresno Center Fresno, CA | $5,685,334 | $12,082,399 |
Latino Center For Prevention & Action In Health & Welfare Santa Ana, CA | $6,603,881 | $11,325,815 |
Alu Like Inc Honolulu, HI | $2,290,492 | $9,028,851 |
Sacramento Chinese Community Service Center Inc Sacramento, CA | $4,354,396 | $9,145,000 |
Central American Resource Center - Carecen - Of California Los Angeles, CA | $10,035,647 | $7,843,220 |
Central American Resource Center Carecen Of Northern California San Francisco, CA | $2,586,265 | $9,324,571 |
Alianza Nacional De Campesinas Inc Oxnard, CA | $1,552,318 | $8,642,187 |
The Seventh Generation Fund For Indigenous Peoples Inc Arcata, CA | $11,269,311 | $11,321,749 |