Civic Intelligence

Moogoong Terrace Inc

EIN 36-3085027 • 501(c)3 • Chicago, IL

Profile

Operate and manage a 75 unit apartment building that provides hud-subsidized housing to elderly and handicapped individuals.

4848 N Kedzie AvenueChicago, IL 60625

n/A

Siviq Scores

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

Liabilities / Assets

96th percentile

1.40x

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

501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

94th percentile

2.79x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

62nd percentile

11%

Higher net margin than 62% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

47th percentile

2.7%

Faster asset growth than 47% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

38th percentile

1.5%

Faster revenue growth than 38% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$1,895,122

Down $146,648 (-7.2%) from 2023

Liabilities

Down

$2,619,081

Down $159,029 (-5.7%) from 2023

Net Assets

Up

-$723,959

Up $12,381 (+1.7%) from 2023

Revenue

Down

$869,055

Down $99,854 (-10%) from 2023

Expenses

Down

$856,674

Down $50,403 (-5.6%) from 2023

Net Income

Down

$12,381

Down $49,451 (-80%) from 2023

Trend Graphs

Balance Sheet Trend

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

$4.0M$2.0M$0-$2.0MAssets 2020: $1,988,131Liabilities 2020: $2,999,485Net Assets 2020: -$1,011,3542020Assets 2021: $1,964,993Liabilities 2021: $2,871,001Net Assets 2021: -$906,0082021Assets 2022: $2,017,766Liabilities 2022: $2,815,938Net Assets 2022: -$798,1722022Assets 2023: $2,041,770Liabilities 2023: $2,778,110Net Assets 2023: -$736,3402023Assets 2024: $1,895,122Liabilities 2024: $2,619,081Net Assets 2024: -$723,9592024

Highlighted filing

2024

Assets$1,895,122
Liabilities$2,619,081
Net Assets-$723,959

Operations Trend

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

$1.5M$1.0M$500K$0Revenue 2020: $975,288Expenses 2020: $968,353Net Income 2020: $6,9352020Revenue 2021: $992,953Expenses 2021: $887,607Net Income 2021: $105,3462021Revenue 2022: $1,008,260Expenses 2022: $900,424Net Income 2022: $107,8362022Revenue 2023: $968,909Expenses 2023: $907,077Net Income 2023: $61,8322023Revenue 2024: $869,055Expenses 2024: $856,674Net Income 2024: $12,3812024

Highlighted filing

2024

Revenue$869,055
Expenses$856,674
Net Income$12,381

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 25, 2025
Return Version
2024v5.1
Gross Receipts
$869,055
Mission and Program Overview

Mission

Operate and manage a 75 unit apartment building that provides hud-subsidized housing to elderly and handicapped individuals.

Apartment building that provides hud-subsidized housing to elderly and handicapped individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$806,411$772,820▼ $33,591
Cash and Non-Interest-Bearing Accounts$188,451$182,042▼ $6,409
Total Assets$2,041,770$1,895,122▼ $146,648
Other Assets Total$1,046,908$940,260▼ $106,648
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,642,923$2,552,016▼ $90,907
Accounts Payable and Accrued Expenses$116,878$48,042▼ $68,836
Other Liabilities$18,309$19,023▲ $714
Total Liabilities$2,778,110$2,619,081▼ $159,029
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-736,340$-723,959▲ $12,381
Total Net Assets Fund Balance$-736,340$-723,959▲ $12,381
Total Liabilities and Net Assets / Fund Balance$2,041,770$1,895,122▼ $146,648

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$464,293$4,293,608$4,757,901
Equipment$16,790$346,356$363,146
Land$291,737-$291,737
Other Assets Org$4,403--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Arnold ChoiPresident
Dr Joseph KimDirector
Ok Kyung KimDirector
Shinhae OhDirector
Danae KovacExecutive Director
Inhe ChoiExecutive Director
Kent Chaegu LeeSecretary
Heon J WooTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$867,402
Investment Income
$846
Other Revenue
$807
Change in Net Assets
$12,381

Audited Revenue Reconciliation

Revenue per Audited Statements
$869,055
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$869,055
Total Revenue per Form 990
$869,055
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$526,302
Salaries, Compensation, and Employee Benefits$330,372
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$155,556$123,542-$279,098
Occupancy$150,697--$150,697
Interest$99,034--$99,034
Depreciation Depletion$76,618--$76,618
Fees for Services Management-$70,104-$70,104
Insurance$36,146--$36,146
Office Expenses-$28,641-$28,641
Other Employee Benefits$27,741--$27,741
Fees for Services Accounting-$25,600-$25,600
Payroll Taxes$21,810--$21,810
Other Expenses$15,816$19,975-$15,816
Travel-$2,671-$2,671
Pension Plan Contributions$1,723--$1,723
Advertising$1,000--$1,000
Total Functional Expenses$586,141$270,533$0$856,674

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$856,674
Total Expenses per Audited Statements$856,674
Total Expenses per Form 990$856,674
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Deposits Held in Trust$19,023
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Hana center performs management duties for the organization subject to board oversight.

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

A draft of the return is circulated to all board members for review before it is submitted.

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

Board members are required to providee a written declaration as to whether or not he/she has a conflict of interest.

Form 990, Part VI, Section B, Line 15

Staff salaries are reviewed by the board on an annual basis as part of the budgeting process.

Form 990, Part VI, Section C, Line 19

Disclosure of governing documents, policies, and financial statements are made available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
Moogoong Terrace Inc
EIN
36-3085027
Phone
7735835501
Address
4848 N KEDZIE AVENUE, CHICAGO, IL 60625

Signing Officer

Name
Danae Kovac
Title
Executive Director
Phone
7735835501
Signed
2025-04-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Danae Kovac
Formed
1980
Legal Domicile
Il
Voting Board Members
6
Independent Board Members
6
Employees
9
Volunteers
6

Preparer

Firm
Porte Brown LLC
Address
845 OAKTON STREET, ELK GROVE VILLAGE, IL 60007
Preparer
Genevra Knight
Phone
8479561040
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The organization has adopted the provision of asc topic 740, income taxes, relating to the accounting for uncertainty in income taxes. The organization files information returns in the us federal jurisdiction and the state of illinois. Management is not aware of any uncertain tax positions.

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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0846
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt02158
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0355
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0289
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0324
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03972
IRS990ScheduleA/InvestmentIncomeCYPct00.00080
IRS990ScheduleA/InvestmentIncomePYPct00.00070
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt0807
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt0825
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt01007
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt03652
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt08953
IRS990ScheduleA/OtherIncome509Grp/TotalAmt015244
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99600
IRS990ScheduleA/PublicSupportPY509Pct00.99620
IRS990ScheduleA/PublicSupportTotal509Amt04795249
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0867402
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0965926
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01006898
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0989012
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0966011
IRS990ScheduleA/Total509Grp/TotalAmt04795249
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0869055
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0968909
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01008260
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0992953
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0975288
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04814465
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0464293
IRS990ScheduleD/BuildingsGrp/DepreciationAmt04293608
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt04757901
IRS990ScheduleD/EquipmentGrp/BookValueAmt016790
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0346356
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0363146
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0856674
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0291737
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0291737
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt030604
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1750667
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2154586
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt34403
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0TENANT DEPOSITS HELD IN TRUST
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESIDUAL RECEIPTS RESERVES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3INSURANCE RESERVE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt019023
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT DEPOSITS HELD IN TRUST
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0869055
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS ADOPTED THE PROVISION OF ASC TOPIC 740, INCOME TAXES, RELATING TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE ORGANIZATION FILES INFORMATION RETURNS IN THE US FEDERAL JURISDICTION AND THE STATE OF ILLINOIS. MANAGEMENT IS NOT AWARE OF ANY UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0772820
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0940260
IRS990ScheduleD/TotalExpensesPerForm990Amt0856674
IRS990ScheduleD/TotalLiabilityAmt019023
IRS990ScheduleD/TotalRevenuePerForm990Amt0869055
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0869055
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0856674
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0UNRELATED ORGANIZATION: THE HANA CENTER, EIN 36-2746468 EMPLOYEE: DANAE KOVAC, EXECUTIVE DIRECTOR BASE COMPENSATION: $90,811 DEFERRED COMPENSATION: $7,051 NONTAXABLE BENEFITS: $11,390
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VII, SECTION A, LINE 5, COMPENSATION FROM AN UNRELATED PARTY
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0HANA CENTER PERFORMS MANAGEMENT DUTIES FOR THE ORGANIZATION SUBJECT TO BOARD OVERSIGHT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT OF THE RETURN IS CIRCULATED TO ALL BOARD MEMBERS FOR REVIEW BEFORE IT IS SUBMITTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS ARE REQUIRED TO PROVIDEE A WRITTEN DECLARATION AS TO WHETHER OR NOT HE/SHE HAS A CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3STAFF SALARIES ARE REVIEWED BY THE BOARD ON AN ANNUAL BASIS AS PART OF THE BUDGETING PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DISCLOSURE OF GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0KORAM SENIOR HOUSING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0363314048
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HUD-SUBSIDIZED HOUSING FOR THE ELDERLY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt04444 N HARDING
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0CHICAGO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd060625
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00

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