Civic Intelligence

Us-Korea Arts Foundation

990EZ • Fiscal year 2014 • EIN 26-4472874

Jan 01, 2014 to Dec 31, 2014 • Filed on Apr 11, 2015

Organization ProfileWWW.USKAF.ORG
8996 Burke Lake Rd No L106Burke, VA 22015

(703) 323-0765

Siviq Scores

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

Liabilities / Assets

91st percentile

0.64x

Higher debt load relative to assets than 91% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

84th percentile

0.15x

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

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

52nd percentile

3.8%

Higher net margin than 52% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

71st percentile

19%

Faster asset growth than 71% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

26th percentile

-16%

Faster revenue growth than 26% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$37,458

Up $6,032 (+19%) from 2013

Net Assets

Up

$13,478

Up $6,032 (+81%) from 2013

Liabilities

Flat

$23,980

Flat from 2013

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin52nd percentile

Revenue

Down

$157,628

Down $29,883 (-16%) from 2013

Expenses

Down

$151,596

Down $47,920 (-24%) from 2013

Net Income

Up

$6,032

Up $18,037 (+150%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

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

$40K$30K$20K$10K$0Assets 2013: $31,426Liabilities 2013: $23,980Net Assets 2013: $7,4462013Assets 2014: $37,458Liabilities 2014: $23,980Net Assets 2014: $13,4782014Assets 2015: $5,976Net Assets 2015: $5,9762015

Highlighted filing

2014

Assets$37,458
Liabilities$23,980
Net Assets$13,478
Open 2014 Filing

Operations Trend

Revenue Growth26th percentile

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

$200K$100K$0-$100KRevenue 2013: $187,511Expenses 2013: $199,516Net Income 2013: -$12,0052013Revenue 2014: $157,628Expenses 2014: $151,596Net Income 2014: $6,0322014Revenue 2015: $125,641Expenses 2015: $133,143Net Income 2015: -$7,5022015

Highlighted filing

2014

Revenue$157,628
Expenses$151,596
Net Income$6,032
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Apr 11, 2015
Return Version
2014v5.0
Gross Receipts
$157,628
Mission and Program Overview

Mission

Form 990-ez, part iii, primary exempt purpose - the us-korea arts foundation (uskaf) was formed on august 2007 with a mission to promote and preserve korean heritage in the united states. Uskaf's mission is to strengthen korean heritage efforts at the smithsonian institution; to support ongoing efforts to strengthen other programs and activities about korean heritage; to introduce korean culture and arts to america by working with the community, government, museums and internal organizations; and to enhance the understanding of diverse cultures through mutual cooperation with other countries. Uskaf has frequently worked with the smithsonian's korean heritage project, including assistance with publications and arrangement for public school in fairfax county, virginia, and korean- language school tours of the korean gallery at the national museum of natural history.

The us-korea arts foundation (uskaf) was formed on august 2007 with a mission to promote and preserve korean heritage in the united states. Uskaf's mission is to strengthen korean heritage efforts at the smithsonian institutiom; to support ongoing efforts to strengthen other programs and activities about korean heritage; to introduce korean culture and arts to america by working with the community, government, museums and internal organizations; and to enhance the understanding of diverse cultures through mutual cooperation with other countries. Uskaf has frequently worked with the smithsonian's korean heritage project, including assistance with publications and arrangement for public school in fairfax county, virginia, and korean-language school tours of the korean gallery at the national museum of natural history.

Program Services

DescriptionGrantsExpenses
SMITHONIAN SUBAWARD - USKAF PROVIDED RESEARCH AND PROGRAM ASSISTANCE IN ASSISTING THE SMITHSONIAN'S ASIAN CULTURAL HISTORY PROGRAM TO CARRY OUT MUSEUM SEMINARS (WORKSHOPS) IN THREE CENTRAL ASIAN COUNTRIES (TURKMENISTAN, KAZAKHSTAN, AND UZBEKISTAN), FOR THE PURPOSES OF HELPING MUSEUMS IN THESE COUNTRIES BETTER DOCUMENT, PRESENT TO THE PUBLIC, AND SHARE INFORMATION ABOUT THE SHARED HERITAGE OF THE REGION, IMPROVING CURATORIAL CAPACITY AND PRESENTING THE REGION'S CULTURAL TRADITIONS AND COMMONALITIES TO A BROAD PUBLIC. IN ADDITION, USKAF ASSISTED WITH THE PLANNING, IMPLEMENTATION, AND EVALUATION OF TASK TEAM VISITS CONSISTING (PARTLY OF LECTURES AND ROUNDTABLE DISCUSSIONS, ALONGSIDE DEVELOPMENT OF FLAGSHIP PROJECTS IN EACH COUNTRY) WITH PARTNER ORGANIZATIONS IN EACH OF THE 3 COUNTRIES. USKAF ALSO ASSISTED WITH THE DEVELOPMENT AND MAINTENANCE OF MUSEUM RESEARCH DATABASES THAT ALLOWED NEW TECHNOLOGIES FOR INFORMATION-SHARING TO BE PRESENTED AT THE SEMINARS, AND ALLOWED THE SMITHSONIAN TO WORK WITH PARTNER MUSEUMS TO APPLY THOSE NEW TECHNOLOGIES TO PRESENT INFORMATION ABOUT COLLECTIONS, MUSIC, AND LIBRARY BIBLIOGRAPHIC INFORMATION, APPROPRIATE TO THE MUSEUMS IN THE THREE COUNTRIES. INFORMATION AND IMAGES FROM THESE DATABASES ARE IMPORTANT FOR THE PREPARATION OF LECTURES FOR THE TASK TEAM VISITS, AND FOR WORKSHOPS ASSOCIATED WITH SEMINARS. THESE DATABASES INCLUDE A BIBLIOGRAPHIC RESEARCH DATABASE, AN ETHNOMUSICOLOGY DATABASE, A CRAFT-OBJECT DATABASE, AND AN ETHNOGRAPHIC PHOTO DATABASE.$0$0
SMITHSONIAN KOREA GALLERY TOUR PROGRAM - USKAF DEVELOPED A TOUR PROGRAM OF THE KOREA GALLERY LOCATED IN THE CENTER OF THE SECOND FLOOR OF THE NATIONAL MUSEUM OF NATURAL HISTORY. STUDENTS, PARENTS, AND TEACHERS AT PUBLIC SCHOOLS AND KOREAN SCHOOLS IN THE WASHINGTON METROPOLITAN AREA WERE INVITED TO TOUR THE GALLERY. VISITING THE GALLERY PROVIDED STUDENTS A BETTER UNDERSTANDING OF KOREAN HERITAGE, HISTORY, CULTURE, AND ART. USKAF ALSO PROVIDED ONE YEAR INTERNSHIP PROGRAM TO 20 INTERNS AS KOREA GALLERY GUIDES.$0$0
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
SOOK KIMPresidentPT$0--
SUNHEE KIM JUNGVice PresidentPT$0--
BRIAN O'CONNORBoard ChairPT$0--
ANTHONY P JUNGBoard Member-$0--
KEEWHAN KWON PHDBoard Member-$0--
KYONG O'CONNORBoard Member-$0--
JANGSUK OH PHDBoard Member-$0--
Filing and Contact Details

Filer

Filer Name
Us-korea Arts Foundation
EIN
26-4472874
Phone
7033230765
Address
8996 BURKE LAKE RD NO L106, BURKE, VA 22015

Signing Officer

Name
Sook Kim
Title
President
Phone
7033230765
Signed
2015-04-11
Discuss with paid preparer
Yes

Preparer

Firm
Renner and Company CPA Pc
Address
700 NORTH FAIRFAX ST SUITE 400, ALEXANDRIA, VA 22314
Preparer
Hae Lee
Phone
7035351200
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16 - Other Expenses

“Description: equipment rental and maintenance. Amount: 9,800. Description: office expense and supplies. Amount: 431. Description: telephone. Amount: 168. Description: interest expense. Amount: 659. Description: conference and meeting. Amount: 713. Description: professional training. Amount: 9,600. Description: advertising and promotion. Amount: 815. Description: accounting fees. Amount: 900. Description: awards and scholarship. Amount: 1,100. Total to form 990-ez, line 16: 24,186.”

Form 990-ez, Part II, Line 26 - Other Liabilities

“Description: line of credit. Beg. Of year amount: 23,980. End of year amount: 23,980.”

Raw XML Appendix168 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.

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IRS990EZ/PrimaryExemptPurposeTxt0THE US-KOREA ARTS FOUNDATION (USKAF) WAS FORMED ON AUGUST 2007 WITH A MISSION TO PROMOTE AND PRESERVE KOREAN HERITAGE IN THE UNITED STATES. USKAF'S MISSION IS TO STRENGTHEN KOREAN HERITAGE EFFORTS AT THE SMITHSONIAN INSTITUTIOM; TO SUPPORT ONGOING EFFORTS TO STRENGTHEN OTHER PROGRAMS AND ACTIVITIES ABOUT KOREAN HERITAGE; TO INTRODUCE KOREAN CULTURE AND ARTS TO AMERICA BY WORKING WITH THE COMMUNITY, GOVERNMENT, MUSEUMS AND INTERNAL ORGANIZATIONS; AND TO ENHANCE THE UNDERSTANDING OF DIVERSE CULTURES THROUGH MUTUAL COOPERATION WITH OTHER COUNTRIES. USKAF HAS FREQUENTLY WORKED WITH THE SMITHSONIAN'S KOREAN HERITAGE PROJECT, INCLUDING ASSISTANCE WITH PUBLICATIONS AND ARRANGEMENT FOR PUBLIC SCHOOL IN FAIRFAX COUNTY, VIRGINIA, AND KOREAN-LANGUAGE SCHOOL TOURS OF THE KOREAN GALLERY AT THE NATIONAL MUSEUM OF NATURAL HISTORY.
IRS990EZ/PrintingPublicationsPostageAmt03541
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0SMITHONIAN SUBAWARD - USKAF PROVIDED RESEARCH AND PROGRAM ASSISTANCE IN ASSISTING THE SMITHSONIAN'S ASIAN CULTURAL HISTORY PROGRAM TO CARRY OUT MUSEUM SEMINARS (WORKSHOPS) IN THREE CENTRAL ASIAN COUNTRIES (TURKMENISTAN, KAZAKHSTAN, AND UZBEKISTAN), FOR THE PURPOSES OF HELPING MUSEUMS IN THESE COUNTRIES BETTER DOCUMENT, PRESENT TO THE PUBLIC, AND SHARE INFORMATION ABOUT THE SHARED HERITAGE OF THE REGION, IMPROVING CURATORIAL CAPACITY AND PRESENTING THE REGION'S CULTURAL TRADITIONS AND COMMONALITIES TO A BROAD PUBLIC. IN ADDITION, USKAF ASSISTED WITH THE PLANNING, IMPLEMENTATION, AND EVALUATION OF TASK TEAM VISITS CONSISTING (PARTLY OF LECTURES AND ROUNDTABLE DISCUSSIONS, ALONGSIDE DEVELOPMENT OF FLAGSHIP PROJECTS IN EACH COUNTRY) WITH PARTNER ORGANIZATIONS IN EACH OF THE 3 COUNTRIES. USKAF ALSO ASSISTED WITH THE DEVELOPMENT AND MAINTENANCE OF MUSEUM RESEARCH DATABASES THAT ALLOWED NEW TECHNOLOGIES FOR INFORMATION-SHARING TO BE PRESENTED AT THE SEMINARS, AND ALLOWED THE SMITHSONIAN TO WORK WITH PARTNER MUSEUMS TO APPLY THOSE NEW TECHNOLOGIES TO PRESENT INFORMATION ABOUT COLLECTIONS, MUSIC, AND LIBRARY BIBLIOGRAPHIC INFORMATION, APPROPRIATE TO THE MUSEUMS IN THE THREE COUNTRIES. INFORMATION AND IMAGES FROM THESE DATABASES ARE IMPORTANT FOR THE PREPARATION OF LECTURES FOR THE TASK TEAM VISITS, AND FOR WORKSHOPS ASSOCIATED WITH SEMINARS. THESE DATABASES INCLUDE A BIBLIOGRAPHIC RESEARCH DATABASE, AN ETHNOMUSICOLOGY DATABASE, A CRAFT-OBJECT DATABASE, AND AN ETHNOGRAPHIC PHOTO DATABASE.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1SMITHSONIAN KOREA GALLERY TOUR PROGRAM - USKAF DEVELOPED A TOUR PROGRAM OF THE KOREA GALLERY LOCATED IN THE CENTER OF THE SECOND FLOOR OF THE NATIONAL MUSEUM OF NATURAL HISTORY. STUDENTS, PARENTS, AND TEACHERS AT PUBLIC SCHOOLS AND KOREAN SCHOOLS IN THE WASHINGTON METROPOLITAN AREA WERE INVITED TO TOUR THE GALLERY. VISITING THE GALLERY PROVIDED STUDENTS A BETTER UNDERSTANDING OF KOREAN HERITAGE, HISTORY, CULTURE, AND ART. USKAF ALSO PROVIDED ONE YEAR INTERNSHIP PROGRAM TO 20 INTERNS AS KOREA GALLERY GUIDES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: EQUIPMENT RENTAL AND MAINTENANCE. AMOUNT: 9,800. DESCRIPTION: OFFICE EXPENSE AND SUPPLIES. AMOUNT: 431. DESCRIPTION: TELEPHONE. AMOUNT: 168. DESCRIPTION: INTEREST EXPENSE. AMOUNT: 659. DESCRIPTION: CONFERENCE AND MEETING. AMOUNT: 713. DESCRIPTION: PROFESSIONAL TRAINING. AMOUNT: 9,600. DESCRIPTION: ADVERTISING AND PROMOTION. AMOUNT: 815. DESCRIPTION: ACCOUNTING FEES. AMOUNT: 900. DESCRIPTION: AWARDS AND SCHOLARSHIP. AMOUNT: 1,100. TOTAL TO FORM 990-EZ, LINE 16: 24,186.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DESCRIPTION: LINE OF CREDIT. BEG. OF YEAR AMOUNT: 23,980. END OF YEAR AMOUNT: 23,980.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES
TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SOOK KIM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07033230765
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-04-11
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ReturnHeader/Filer/BusinessNameControlTxt0US-K
ReturnHeader/Filer/EIN0264472874
ReturnHeader/Filer/PhoneNum07033230765
ReturnHeader/Filer/USAddress/AddressLine1Txt08996 BURKE LAKE RD NO L106
ReturnHeader/Filer/USAddress/CityNm0BURKE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd022015
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RENNER AND COMPANY CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0700 NORTH FAIRFAX ST SUITE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALEXANDRIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd022314
ReturnHeader/PreparerPersonGrp/PhoneNum07035351200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HAE LEE
ReturnHeader/ReturnTs02015-04-13T15:11:41-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$37,458
Liabilities
$23,980
Net assets
$13,478
Revenue
$157,628
Expenses
$151,596
Net income
$6,032
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$0.06$0.06$1.26$1.33$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.37$0.24$0.13$1.58$1.52$0.06
2013Detailed filing. Detailed filing data is available for this year.$0.31$0.24$0.07$1.88$2.00$0.12