Civic Intelligence

Korean Community Services of Metropolitan New York Inc.

990 • Fiscal year 2018 • EIN 23-7348989

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 04, 2019

203-05 32nd AvenueBayside, NY 11361

(718) 939-6137

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

62nd percentile

0.42x

Higher debt load relative to assets than 62% of similar nonprofits.

2018 filings • NTEE P • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

84th percentile

0.86x

Higher debt load relative to revenue than 84% of similar nonprofits.

2018 filings • NTEE P • $5M-$10M nonprofits • Source year 2018

Net Margin

11th percentile

-12%

Higher net margin than 11% of similar nonprofits.

2018 filings • NTEE P • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

28th percentile

$91,202

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2018 filings • NTEE P • $5M-$10M nonprofits • Source year 2018

Asset Growth

38th percentile

-2.0%

Faster asset growth than 38% of similar nonprofits.

2018 filings • NTEE P • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

6th percentile

-28%

Faster revenue growth than 6% of similar nonprofits.

2018 filings • NTEE P • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Down

$9,414,106

Down $192,455 (-2.0%) from 2017

Net Assets

Down

$5,478,170

Down $559,576 (-9.3%) from 2017

Liabilities

Up

$3,935,936

Up $367,121 (+10%) from 2017

Revenue

Down

$4,559,986

Down $1,764,674 (-28%) from 2017

Expenses

Up

$5,119,562

Up $593,054 (+13%) from 2017

Net Income

Down

-$559,576

Down $2,357,728 (-131%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$20M$15M$10M$5.0M$0Assets 2014: $4,450,546Liabilities 2014: $334,363Net Assets 2014: $4,116,1832014Assets 2015: $4,320,547Liabilities 2015: $95,042Net Assets 2015: $4,225,5052015Assets 2016: $4,794,557Liabilities 2016: $554,963Net Assets 2016: $4,239,5942016Assets 2017: $9,606,561Liabilities 2017: $3,568,815Net Assets 2017: $6,037,7462017Assets 2018: $9,414,106Liabilities 2018: $3,935,936Net Assets 2018: $5,478,1702018Assets 2019: $10,247,540Liabilities 2019: $4,308,490Net Assets 2019: $5,939,0502019Assets 2020: $10,970,065Liabilities 2020: $4,481,636Net Assets 2020: $6,488,4292020Assets 2021: $13,398,422Liabilities 2021: $5,665,759Net Assets 2021: $7,732,6632021Assets 2022: $14,833,941Liabilities 2022: $5,971,123Net Assets 2022: $8,862,8182022Assets 2023: $15,042,173Liabilities 2023: $6,018,543Net Assets 2023: $9,023,6302023Assets 2024: $14,872,639Liabilities 2024: $5,609,514Net Assets 2024: $9,263,1252024

Highlighted filing

2018

Assets$9,414,106
Liabilities$3,935,936
Net Assets$5,478,170

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2014: $3,865,603Expenses 2014: $3,686,305Net Income 2014: $179,2982014Revenue 2015: $3,489,168Expenses 2015: $3,379,846Net Income 2015: $109,3222015Revenue 2016: $3,714,834Expenses 2016: $3,700,745Net Income 2016: $14,0892016Revenue 2017: $6,324,660Expenses 2017: $4,526,508Net Income 2017: $1,798,1522017Revenue 2018: $4,559,986Expenses 2018: $5,119,562Net Income 2018: -$559,5762018Revenue 2019: $6,607,007Expenses 2019: $6,146,190Net Income 2019: $460,8172019Revenue 2020: $6,169,050Expenses 2020: $5,614,674Net Income 2020: $554,3762020Revenue 2021: $7,508,888Expenses 2021: $6,316,033Net Income 2021: $1,192,8552021Revenue 2022: $9,881,804Expenses 2022: $8,728,659Net Income 2022: $1,153,1452022Revenue 2023: $10,848,943Expenses 2023: $10,781,041Net Income 2023: $67,9022023Revenue 2024: $11,335,665Expenses 2024: $11,227,911Net Income 2024: $107,7542024

Highlighted filing

2018

Revenue$4,559,986
Expenses$5,119,562
Net Income-$559,576
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 4, 2019
Return Version
2017v2.3
Gross Receipts
$4,835,731
Mission and Program Overview

Mission

To support and assist members of the korean community to be healthy and productive individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,817,680$7,915,340▲ $97,660
Pledges and Grants Receivable$1,174,081$734,596▼ $439,485
Cash and Non-Interest-Bearing Accounts$226,288$368,840▲ $142,552
Accounts Receivable$239,934$301,272▲ $61,338
Prepaid Expenses and Deferred Charges$131,005$75,682▼ $55,323
Total Assets$9,606,561$9,414,106▼ $192,455
Other Assets Total$17,573$18,376▲ $803
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,046,167$3,319,967▲ $273,800
Accounts Payable and Accrued Expenses$393,847$393,131▼ $716
Deferred Revenue$128,801$222,838▲ $94,037
Total Liabilities$3,568,815$3,935,936▲ $367,121
Net Assets / Fund Balance
Unrestricted Net Assets$5,437,068$5,226,026▼ $211,042
Temporarily Rstr Net Assets$600,678$252,144▼ $348,534
Total Net Assets Fund Balance$6,037,746$5,478,170▼ $559,576
Total Liabilities and Net Assets / Fund Balance$9,606,561$9,414,106▼ $192,455

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,936,849$224,923$6,161,772
Land$1,725,000-$1,725,000
Equipment$169,089$154,319$323,408
Leasehold Improvements$84,402$7,668$92,070
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kwang S KimPresidentFT$78,981$12,221$91,202
Linda LeeExecutive DirectorFT$75,000$12,268$87,268

Board Members and Trustees

NameTitle
Chris ChungChairperson
Anne Hyun Jin KimDirector
Jay H KimDirector
Jenny ChungDirector
Matthew KangDirector
Stella YiDirector
Tommy YounDirector
Wan KimDirector
Kiwon K ShinSecretary
Danny KimTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Ncheng LLPAcct/fiscal Adviser40 WALL STREET 32ND FLOOR, New York, NY 10005$228,160
Revenue and Support

Revenue Composition

Contributions and Grants
$3,127,179
Program Service Revenue
$1,193,788
Investment Income
$403
Other Revenue
$238,616
All Other Contributions
$953,258
Change in Net Assets
$-559,576

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,559,986
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,559,986
Total Revenue per Form 990
$4,559,986
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,692,293
Other Expenses$2,340,856
Total Fundraising Expense$153,230
Grants and Similar Amounts Paid$86,413
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,919,811$151,908$58,264$2,129,983
Occupancy$332,589$60,360-$392,949
Fees for Services Accounting-$244,810-$244,810
Other Employee Benefits$191,118$15,123$5,799$212,040
Depreciation Depletion$152,616$59,251-$211,867
Interest-$184,435-$184,435
Current Officers, Directors, Trustees, and Key Employees$160,860$12,728$4,882$178,470
Payroll Taxes$151,818$12,013$4,608$168,439
Fees for Services Other$54,619$10,851$31,420$96,890
Other Expenses$80,685$146$324$80,831
Office Expenses$59,828$14,363-$74,191
Grants to Domestic Orgs$73,209--$73,209
Insurance$23,400$10,268$9,805$43,473
All Other Expenses$24,973$6,949-$31,922
Information Technology$15,427$3,065$8,874$27,366
Conferences and Meetings$23,526$3,032-$26,558
Travel$21,707$3,930-$25,637
Advertising$7,734$3,394$3,241$14,369
Grants to Domestic Individuals$13,204--$13,204
Pension Plan Contributions$3,029$240$92$3,361
Total Functional Expenses$4,135,721$830,611$153,230$5,119,562

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,119,562
Total Expenses per Audited Statements$5,119,562
Total Expenses per Form 990$5,119,562
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Chinese - American Planning CouncilNew York, NY501(c)(3)Subcontractor$39,191
Minkwon Center for Community Action IncFlushing, NY501(c)(3)Subcontractor$18,750
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$467,050
Fundraising Direct Expenses$275,745
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$491,931$351,366$28,027$323,339
Golf Events$78,445$46,845$7,042$39,803
Total Events$639,215$467,050$275,745$191,305
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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 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
Yes
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

The form 990 is provided to each board member for review prior to filing with the internal revenue service.

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

All officers, directors and key employees are mandated to report any issue on conflict of interest forms to the board. If not reported properly, he/she will be subject to hr and personnel committee of the board, and dismissal shall be determined at the general board meeting.

Form 990, Part VI, Section B, Line 15

Compensation for the president and the executive director was determined by the entire board during the meeting.

Form 990, Part VI, Section C, Line 19

Kcs does make its governing documents, conflict of interest policy and financial statements available to the general public upon request.

Filing and Contact Details

Filer

Filer Name
Korean Community Services of
EIN
23-7348989
Phone
7189396137
Address
203-05 32ND AVENUE, BAYSIDE, NY 11361

Signing Officer

Name
Daniel Kim
Title
Treasurer
Phone
7189396137
Signed
2019-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel Kim
Formed
1974
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
10
Employees
128
Volunteers
150

Preparer

Firm
CONDON O'MEARA MCGINTY & DONNELLY LLP
Address
ONE BATTERY PARK PLAZA 7TH FL, NEW YORK, NY 10004
Preparer
James J Reilly
Phone
2126617777
Supplemental Narrative

Additional Explanations

Part III - Line 1

Formed in 1974, the korean community services of metropolitan new york, inc. ("kcs") is a community based, voluntary, non-profit, non-sectarian social service organization supported by governments, various foundations, corporations, and concerned individuals within the korean community. The central goal of kcs is to serve the newly arriving korean immigrants whose needs require bilingual, professional and social services in korean and english. The objectives of kcs are to develop and deliver services to meet the various needs of the community.

Part III - Line 4A

Aging programs: kcs provides various assistance to roughly 600 seniors daily through its two senior centers, adult day care center, senior community service employment program, and homebound meals-on-wheels program. The goal of these programs is to ensure that seniors are able to age with dignity and in the community where they feel the most comfortable. We achieve this by providing congregate meals, education and recreation, case assistance and referrals, friendly visits, telephone assurance services, job training and employment.

Part III - Line 4B

Mental health clinic program: the mental by a korean nonprofit organization. The clinic provides culturally sensitive services in a warm, welcoming environment in both korean and crisis intervention, complex care management, psychotropic medication management, health assessment and monitoring, individual psychotherapy, group psychotherapy, and family, couple, collateral psychotherapy. It does this by enabling members to acquire work experience receive government-funded training in practical areas such as secretarial supplemental security income and legal consultation.

Part III - Line 4C

Education and immigration program: through our adult literacy program, summer youth community action project, civic engagement program, and the necessary tools to become more self-sufficient and active members in the community.

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IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt013204
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IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt073209
IRS990/GrantsToDomesticOrgsGrp/TotalAmt073209
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt04835731
IRS990/GrossRentsGrp/RealAmt046833
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
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IRS990/IndependentVotingMemberCnt010
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
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IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt08874
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt03065
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IRS990/InformationTechnologyGrp/TotalAmt027366
IRS990/InsuranceGrp/FundraisingAmt09805
IRS990/InsuranceGrp/ManagementAndGeneralAmt010268
IRS990/InsuranceGrp/ProgramServicesAmt023400
IRS990/InsuranceGrp/TotalAmt043473
IRS990/InterestGrp/ManagementAndGeneralAmt0184435
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IRS990/NetUnrelatedBusTxblIncmAmt03962
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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt014363
IRS990/OfficeExpensesGrp/ProgramServicesAmt059828
IRS990/OfficeExpensesGrp/TotalAmt074191
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IRS990/Organization501c3Ind0X
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0212040
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IRS990/OtherExpensesGrp/Desc1OTHER
IRS990/OtherExpensesGrp/Desc2PROGRAM
IRS990/OtherExpensesGrp/Desc3VEHICLES
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IRS990/OtherExpensesGrp/FundraisingAmt1324
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt16600
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2146
IRS990/OtherExpensesGrp/ProgramServicesAmt0659933
IRS990/OtherExpensesGrp/ProgramServicesAmt161861
IRS990/OtherExpensesGrp/ProgramServicesAmt2103774
IRS990/OtherExpensesGrp/ProgramServicesAmt380685
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IRS990/OtherExpensesGrp/TotalAmt2110698
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt058264
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0151908
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01919811
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IRS990/PayrollTaxesGrp/FundraisingAmt04608
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt012013
IRS990/PayrollTaxesGrp/ProgramServicesAmt0151818
IRS990/PayrollTaxesGrp/TotalAmt0168439
IRS990/PensionPlanContributionsGrp/FundraisingAmt092
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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01174081
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IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0358794
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt02446023
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt014597579
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt02336
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01660838
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IRS990ScheduleA/InvestmentIncomeCYPct00.00030
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt032708
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0201755
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IRS990ScheduleA/OtherIncome509Grp/TotalAmt0275440
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
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IRS990ScheduleA/PublicSupportPY509Pct00.97800
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt037407
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt066500

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Peer Organizations

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