The Korean American Foundation Hawaii
- Assets
- $1.6m
- Revenue
- $221.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Honolulu, HI
- Founding
- 04/1993
- Data as of
- 12/2023
- EIN
- 99-0293085
Organization Overview
The Korean American Foundation Hawaii is located in Honolulu, HI. The organization was established in 1993. 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 American Foundation Hawaii 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, Korean American Foundation Hawaii generated $221.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 33.5% each year . All expenses for the organization totaled $350.9k during the year ending 12/2023. While expenses have increased by 23.0% per year over the past 8 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 ASSOCIATION IS ORGANIZED TO OPERATE EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, LITERARY, RELIGIOUS OR EDUCATIONAL PURPOSES, WITHIN THE MEANING OF SECTION 501(C)(3) OF
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE THE KOREAN CULTURE AND HERITAGE: COPPERPLATE FOR MINHWAN LEE ...................... $60,875 DIGITIZING WORKS - JOHN KIM & UOHF ............... $14,937. DIASPORA PROJECT IN KOREA ........................ $32,893. FLOWERS FOR CELEBRATION & MEMORIAL EVENTS ......... $1,304. HANGUEL DAY FESTIVAL .............................. $4,500. HAWAII COMMUNITY FUNDS - MAUI FIRE DISASTER ...... $10,000. HAWAII KOREAN CHAMBER OF COMMERCE ................ $35,000. HAWAII KOREAN CULTURAL CENTER - TASTE OF KOREA 7TH $2,000. HAWAII KOREAN-US CITIZENS LEAGUE ................. $520. KBFD TV - SPONSORSHIP FOR SPECIAL PROGRAMS ....... $15,471. KOREA TIMES HAWAII - MEMORIALS FOR CW KIM ........ $1,000. KOREAN AMERICAN DAY 120TH CELEBRATION ............ $89,780. KOREAN ARTISTS ASSOCIATION HAWAII ................ $2,000. KOREAN NAVAL PARTY - SYNGMAN RHEE SOCIETY ........ $664. KOREAN SPORTS ASSOCIATION OF HAWAII .............. $2,000. OAHU CEMETARY AND CREMATORY ....................... $1,588. PUUIKI KOREAN CEMETERY PROJECT - CEREMONY ........ $5,794. SONGS OF LOVE - JINYOUNG WON ...................... $10,000. THE UNITED KOREAN ASSOCIATION OF HAWAII ........... $1,000. TOMBSTONE REPLACEMENT ............................. $20,895. WALK TOGETHER IN KOREA - LGU ...................... $19,013.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward J Shultz Director | Trustee | 2 | $0 |
Gina Kim Nakamura Vice-President/director | OfficerTrustee | 2 | $0 |
Taeyong Kim Secretary/director | OfficerTrustee | 2 | $0 |
Myung Hyo Jang Treasurer/director | OfficerTrustee | 2 | $0 |
Francis C Park President/director | OfficerTrustee | 2 | $0 |
Ivan Chong Director | Trustee | 2 | $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 | $127,489 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $127,489 |
| Total Program Service Revenue | $0 |
| Investment income | $94,281 |
| 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 | $221,770 |
| 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 | $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 | $16,578 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $1,874 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $664 |
| All other expenses | $331,234 |
| Total functional expenses | $350,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,700 |
| 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 | $0 |
| Investments—publicly traded securities | $1,611,922 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,800 |
| Total assets | $1,632,422 |
| 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 | $1,632,422 |
| 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 | $1,632,422 |