Civic Intelligence

Korean-American Community Foundation Inc

EIN 16-1643114 • 501(c)3 • New York, NY

Profile

Kacf provides grants and capacity building assistance to organizations working to address the most pressing needs in the korean american community and beyond. To the supporters, kacf provides a way to magnify the impact of their giving and to build bridges across generations and communities.

135 East 64th Street 2nd FloorNew York, NY 10065

www.kacfny.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

0.44x

Higher debt load relative to assets than 96% of similar nonprofits.

NTEE T • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

93rd percentile

0.54x

Higher debt load relative to revenue than 93% of similar nonprofits.

NTEE T • $10M-$25M nonprofits • Source year 2024

Net Margin

53rd percentile

25%

Higher net margin than 53% of similar nonprofits.

NTEE T • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

94th percentile

$272,043

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

NTEE T • $10M-$25M nonprofits • Source year 2024

Asset Growth

94th percentile

77%

Faster asset growth than 94% of similar nonprofits.

NTEE T • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

83rd percentile

211%

Faster revenue growth than 83% of similar nonprofits.

NTEE T • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$10,354,740

Up $4,515,216 (+77%) from 2023

Liabilities

Up

$4,572,470

Up $2,379,250 (+108%) from 2023

Net Assets

Up

$5,782,270

Up $2,135,966 (+59%) from 2023

Operations
Liabilities / Revenue93rd percentileNet Margin53rd percentile

Revenue

Up

$8,471,216

Up $5,747,645 (+211%) from 2023

Expenses

Up

$6,339,018

Up $2,960,566 (+88%) from 2023

Net Income

Up

$2,132,198

Up $2,787,079 (+426%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth94th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2011: $1,343,771Liabilities 2011: $248,883Net Assets 2011: $1,094,8882011Assets 2012: $1,338,322Liabilities 2012: $435,138Net Assets 2012: $903,1842012Assets 2013: $1,178,514Liabilities 2013: $200,590Net Assets 2013: $977,9242013Assets 2014: $1,215,225Liabilities 2014: $369,281Net Assets 2014: $845,9442014Assets 2015: $1,362,364Liabilities 2015: $256,456Net Assets 2015: $1,105,9082015Assets 2016: $1,212,841Liabilities 2016: $248,815Net Assets 2016: $964,0262016Assets 2017: $1,480,582Liabilities 2017: $241,837Net Assets 2017: $1,238,7452017Assets 2018: $2,019,711Liabilities 2018: $250,067Net Assets 2018: $1,769,6442018Assets 2019: $2,278,623Liabilities 2019: $271,231Net Assets 2019: $2,007,3922019Assets 2020: $2,863,182Liabilities 2020: $346,927Net Assets 2020: $2,516,2552020Assets 2021: $4,855,167Liabilities 2021: $1,332,060Net Assets 2021: $3,523,1072021Assets 2022: $5,808,291Liabilities 2022: $1,503,929Net Assets 2022: $4,304,3622022Assets 2023: $5,839,524Liabilities 2023: $2,193,220Net Assets 2023: $3,646,3042023Assets 2024: $10,354,740Liabilities 2024: $4,572,470Net Assets 2024: $5,782,2702024

Highlighted filing

2024

Assets$10,354,740
Liabilities$4,572,470
Net Assets$5,782,270
Open 2024 Filing

Operations Trend

Revenue Growth83rd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $1,157,070Expenses 2011: $981,836Net Income 2011: $175,2342011Revenue 2012: $1,235,600Expenses 2012: $1,427,304Net Income 2012: -$191,7042012Revenue 2013: $1,243,283Expenses 2013: $1,168,543Net Income 2013: $74,7402013Revenue 2014: $1,493,893Expenses 2014: $1,496,444Net Income 2014: -$2,5512014Revenue 2015: $1,715,026Expenses 2015: $1,584,491Net Income 2015: $130,5352015Revenue 2016: $1,411,299Expenses 2016: $1,553,181Net Income 2016: -$141,8822016Revenue 2017: $1,717,842Expenses 2017: $1,443,123Net Income 2017: $274,7192017Revenue 2018: $2,037,366Expenses 2018: $1,506,506Net Income 2018: $530,8602018Revenue 2019: $1,846,674Expenses 2019: $1,874,237Net Income 2019: -$27,5632019Revenue 2020: $2,223,370Expenses 2020: $1,714,507Net Income 2020: $508,8632020Revenue 2021: $3,532,545Expenses 2021: $2,526,804Net Income 2021: $1,005,7412021Revenue 2022: $3,884,951Expenses 2022: $3,105,762Net Income 2022: $779,1892022Revenue 2023: $2,723,571Expenses 2023: $3,378,452Net Income 2023: -$654,8812023Revenue 2024: $8,471,216Expenses 2024: $6,339,018Net Income 2024: $2,132,1982024

Highlighted filing

2024

Revenue$8,471,216
Expenses$6,339,018
Net Income$2,132,198
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$10,354,740
Liabilities
$4,572,470
Net assets
$5,782,270
Revenue
$8,471,216
Expenses
$6,339,018
Net income
$2,132,198
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.4$4.57$5.78$8.47$6.34$2.13
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.84$2.19$3.65$2.72$3.38$0.65
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.81$1.50$4.30$3.88$3.11$0.78
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.86$1.33$3.52$3.53$2.53$1.01
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.86$0.35$2.52$2.22$1.71$0.51
2019Summary only. Only limited summary data is available for this year.$2.28$0.27$2.01$1.85$1.87$0.03
2018Summary only. Only limited summary data is available for this year.$2.02$0.25$1.77$2.04$1.51$0.53
2017Summary only. Only limited summary data is available for this year.$1.48$0.24$1.24$1.72$1.44$0.27
2016Summary only. Only limited summary data is available for this year.$1.21$0.25$0.96$1.41$1.55$0.14
2015Summary only. Only limited summary data is available for this year.$1.36$0.26$1.11$1.72$1.58$0.13
2014Summary only. Only limited summary data is available for this year.$1.22$0.37$0.85$1.49$1.50$0.00
2013Summary only. Only limited summary data is available for this year.$1.18$0.20$0.98$1.24$1.17$0.07
2012Summary only. Only limited summary data is available for this year.$1.34$0.44$0.90$1.24$1.43$0.19
2011Summary only. Only limited summary data is available for this year.$1.34$0.25$1.09$1.16$0.98$0.18
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$4,694,009
Mission and Program Overview

Mission

Kacf provides grants and capacity building assistance to organizations working to address the most pressing needs in the korean american community and beyond. To the supporters, kacf provides a way to magnify the impact of their giving and to build bridges across generations and communities.

Kacf provides grants and capacity building assistance to organizations working to address the most pressing needs in the korean american community and beyond.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,509,557$4,430,496▲ $1,920,939
Cash and Non-Interest-Bearing Accounts$999,890$710,499▼ $289,391
Pledges and Grants Receivable$556,888$272,544▼ $284,344
Prepaid Expenses and Deferred Charges$104,204$116,792▲ $12,588
Investments in Publicly Traded Securities$670,122$78,271▼ $591,851
Accounts Receivable$5,989$5,114▼ $875
Land, Buildings, and Equipment, Net$3,517$1,875▼ $1,642
Total Assets$4,855,167$5,808,291▲ $953,124
Other Assets Total$5,000$192,700▲ $187,700
Liabilities
Grants Payable$1,159,334$1,258,002▲ $98,668
Other Liabilities$1,533$187,873▲ $186,340
Deferred Revenue$110,537--
Accounts Payable and Accrued Expenses$60,656$58,054▼ $2,602
Total Liabilities$1,332,060$1,503,929▲ $171,869
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,241,930$3,303,720▲ $1,061,790
Net Assets With Donor Restrictions$1,281,177$1,000,642▼ $280,535
Total Net Assets Fund Balance$3,523,107$4,304,362▲ $781,255
Total Liabilities and Net Assets / Fund Balance$4,855,167$5,808,291▲ $953,124

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$21,720$21,720
Equipment$1,875$4,222$6,097

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$1,031,177-▼ $30,535-$1,000,642
2021-$1,030,066▲ $1,111-$1,031,177
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kyung B YoonPresidentFT$246,957$17,755$252,832
Brennan Gang Vice PresidentOf Programs OperationsFT$188,967$4,750$205,597

Board Members and Trustees

NameTitle
Jeannie ParkChair
Alex ChiDirector
Cathy OhDirector
Chris ParkDirector
Chul PakDirector
David K ParkDirector
Edward J LeeDirector
James SeoDirector
Judy KimDirector
Lisa KimDirector
Prisca BaeDirector
Richard ParkDirector
S Steven YangDirector
Michael K ChungSecretary
David H LeeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,920,331
Program Service Revenue
$50,270
Investment Income
$-24,855
Other Revenue
$-60,795
All Other Contributions
$245,420
Change in Net Assets
$779,189

Noncash Contribution Practices

Property subject to holding requirements
No
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded4$201,692Fair Market Value
Total Noncash Contributions4$201,692-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,884,951
Revenue Not Reported on Form 990
$2,066
Total Revenue per Audited Statements
$3,887,017
Total Revenue per Form 990
$3,884,951
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,832,750
Salaries, Compensation, and Employee Benefits$864,877
Total Fundraising Expense$445,635
Other Expenses$408,135
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,832,750--$1,832,750
Current Officers, Directors, Trustees, and Key Employees$325,000$77,111$49,992$452,103
Other Salaries and Wages$37,073$94,178$157,332$288,583
Occupancy$25,566$22,870$17,546$65,982
Other Employee Benefits$30,364$14,364$17,386$62,114
Office Expenses$3,333$17,772$34,555$55,660
Payroll Taxes$23,939$11,325$13,708$48,972
Fees for Services Accounting-$35,014-$35,014
Travel$19,404$6,161$251$25,816
Fees for Services Other$2,240$10,226$8,950$21,416
Information Technology$4,999$3,350$5,034$13,383
Conferences and Meetings$736$11,657$818$13,211
Pension Plan Contributions$6,406$3,031$3,668$13,105
All Other Expenses$1,726$758$9,060$11,544
Depreciation Depletion-$1,642-$1,642
Insurance-$1,535-$1,535
Fees for Services Legal-$1,110-$1,110
Other Expenses$896$650$6,616$650
Total Functional Expenses$2,339,412$320,715$445,635$3,105,762

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,105,762
Total Expenses per Audited Statements$3,105,762
Total Expenses per Form 990$3,105,762
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Community Resource ExchangeNy, NY501c3Capacity Building Fellowship$218,000
Asian American FederationNy, NY501c3Demographics and Civic Eng. Reports$180,000
Advocacy Institute 302 BethelStaten Island, NY501c3Support NFP Org Advance Advocacy$100,000
Asian Americans for EqualityNy, NY501c3Transitional Affordable Housing$100,000
Communities Resist 434 SouthBrooklyn, NY501c3Community-Based Legal Services$100,000
KASCANJ 451 Grand AvePark, NJ501c3COVID Support for Social Svc Counseling$100,000
Korean Comm Svcs of Metro NYBayside, NY501c3COVID Support to Help Invest in Safety$100,000
Korean-Amer Family Service CenterFlushing, NY501c3Pathways to Empowerment Proj$100,000
Min Kwon Center for Comm ActionFlushing, NY501c3Support its Work to Help the Most Vul.$100,000
Family Touch 218 Main StreetFerry, NJ501c3College Readiness Program$80,000
Nat'l Asian Pacific Amer Women'sChicago, IL501c3COVID Support for Safety of AAPI Wom.$80,000
Asian Women's Christian AssocTeaneck, NJ501c3COVID Support for Food Pantries$75,000
Bergen Volunteer Med InitiativeHackensack, NJ501c3Korean Healthcare Program$75,000
Coal for Asian Amer Children &Ny, NY501c318 and Growing Campaign$75,000
Give Chances Inc 235 PegasusNorthvale, NJ501c3Joyful Learning Childrens Prog$65,000
Redeemer Counseling ServicesNy, NY501c3Equip Train Korean- Amer Church Leaders$65,000
Chinese-Amer Planning CouncilNy, NY501c3Korean Childcare Project$55,000
Mustard Seed Generation 539Dallas, TX501c3Increase Mental Health Literacy$50,000
Esther Ha Foundation 217-04Bayside, NY501c3S.t.e.p.s.$35,000
GMA Inc Nanoom HouseFlushing, NY501c3COVID Support to Help Move New Loc$30,000
Korean Amer Story Org IncScarsdale, NY501c3Create Narrative Change for KQT$25,000
Listen4Good Rockefeller PhilanthropyNy, NY501c3Support 3 Grantee Partners in Eval.$18,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$371,654
Fundraising Gross Income$294,400
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$3,969,311$294,400$98,696$195,704
Total Events$3,969,311$294,400$371,654$-77,254
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$187,873
Lease obligations-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Upon completion of form 990, kacf circulates the final form 990 to the board members.”

Form 990, Part VI, Section B, Line 12C

“Kacf requires board members to sign the conflict of interest policy annually.”

Form 990, Part VI, Section B, Line 15A

“Kacf collects the comparative data of appropriate salary for the president position and shares it with board members. The board reviews and approves the current salary of the president.”

Form 990, Part VI, Section C, Line 19

“Form 990 is available on guidestar. The governing documents, conflict of interest policy and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Korean-american Community Foundation Inc
EIN
16-1643114
Phone
6468789427
Address
135 EAST 64TH STREET 2ND FLOOR, NEW YORK, NY 10065

Signing Officer

Name
Kyung Yoon
Title
President
Phone
6468789427
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kyung Yoon
Formed
2002
Legal Domicile
Ny
Voting Board Members
15
Independent Board Members
15
Employees
8
Volunteers
66

Preparer

Firm
Winnie Tam & Co Pc
Address
50 BROAD STREET SUITE 1002, NEW YORK, NY 10004
Preparer
Jessie Tam-moy
Phone
2127854600
Supplemental Narrative

Financial Statement Notes

X 2

“- kacf adopted financial accounting standards board fasb guidance on uncertain income tax positions in its financial statements. Kacf recognizes the effect of tax positions only when they are more likely than not of being sustained. Management is not aware of any violation of its tax status as an organization exempt from income taxes.”

Raw XML AppendixShowing 400 of 811 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0KACF PROVIDES GRANTS AND CAPACITY BUILDING ASSISTANCE TO ORGANIZATIONS WORKING TO ADDRESS THE MOST PRESSING NEEDS IN THE KOREAN AMERICAN COMMUNITY AND BEYOND.
IRS990/AdvertisingGrp/TotalAmt00
IRS990/AllOtherContributionsAmt0245420
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IRS990/AllOtherExpensesGrp/ProgramServicesAmt01726
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IRS990/BooksInCareOfDetail/PhoneNum06468789427
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IRS990/CreditCounselingInd0false
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