Civic Intelligence

Silicon Valley Korean School Inc.

990 • Fiscal year 2021 • EIN 91-2013547

Jul 01, 2020 to Jun 30, 2021 • Filed on May 05, 2022

Organization Profilesvks.org
P O Box 3129Santa Clara, CA 95055

(408) 202-5048

Siviq Scores

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

Liabilities / Assets

51st percentile

0.07x

Higher debt load relative to assets than 51% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

57th percentile

0.13x

Higher debt load relative to revenue than 57% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

59th percentile

18%

Higher net margin than 59% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

43rd percentile

$24,379

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

55th percentile

12%

Faster asset growth than 55% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

52nd percentile

14%

Faster revenue growth than 52% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets51st percentile

Assets

Up

$1,274,719

Up $132,816 (+12%) from 2020

Net Assets

Up

$1,181,659

Up $123,729 (+12%) from 2020

Liabilities

Up

$93,060

Up $9,087 (+11%) from 2020

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin59th percentile

Revenue

Up

$696,855

Up $85,503 (+14%) from 2020

Expenses

Down

$573,126

Down $83,022 (-13%) from 2020

Net Income

Up

$123,729

Up $168,525 (+376%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $698,259Liabilities 2011: $10,175Net Assets 2011: $688,0842011Assets 2013: $813,939Liabilities 2013: $13,860Net Assets 2013: $800,0792013Assets 2014: $796,583Liabilities 2014: $17,154Net Assets 2014: $779,4292014Assets 2015: $884,036Liabilities 2015: $17,051Net Assets 2015: $866,9852015Assets 2016: $946,309Liabilities 2016: $7,450Net Assets 2016: $938,8592016Assets 2017: $990,831Liabilities 2017: $4,654Net Assets 2017: $986,1772017Assets 2018: $1,049,897Liabilities 2018: $4,832Net Assets 2018: $1,045,0652018Assets 2019: $1,108,290Liabilities 2019: $5,564Net Assets 2019: $1,102,7262019Assets 2020: $1,141,903Liabilities 2020: $83,973Net Assets 2020: $1,057,9302020Assets 2021: $1,274,719Liabilities 2021: $93,060Net Assets 2021: $1,181,6592021Assets 2022: $1,496,160Liabilities 2022: $1,811Net Assets 2022: $1,494,3492022Assets 2023: $1,701,247Liabilities 2023: $1,043Net Assets 2023: $1,700,2042023Assets 2024: $1,853,552Liabilities 2024: $1,053Net Assets 2024: $1,852,4992024Assets 2025: $2,097,607Liabilities 2025: $0Net Assets 2025: $2,097,6072025

Highlighted filing

2021

Assets$1,274,719
Liabilities$93,060
Net Assets$1,181,659
Open 2021 Filing

Operations Trend

Revenue Growth52nd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $395,909Expenses 2011: $346,114Net Income 2011: $49,7952011Expenses 2013: $484,1972013Revenue 2014: $562,670Expenses 2014: $583,320Net Income 2014: -$20,6502014Revenue 2015: $760,009Expenses 2015: $672,453Net Income 2015: $87,5562015Revenue 2016: $781,939Expenses 2016: $710,065Net Income 2016: $71,8742016Revenue 2017: $765,045Expenses 2017: $717,727Net Income 2017: $47,3182017Revenue 2018: $765,515Expenses 2018: $706,627Net Income 2018: $58,8882018Revenue 2019: $812,072Expenses 2019: $754,411Net Income 2019: $57,6612019Revenue 2020: $611,352Expenses 2020: $656,148Net Income 2020: -$44,7962020Revenue 2021: $696,855Expenses 2021: $573,126Net Income 2021: $123,7292021Revenue 2022: $982,462Expenses 2022: $669,772Net Income 2022: $312,6902022Revenue 2023: $993,715Expenses 2023: $787,860Net Income 2023: $205,8552023Revenue 2024: $1,021,670Expenses 2024: $869,375Net Income 2024: $152,2952024Revenue 2025: $1,208,955Expenses 2025: $963,847Net Income 2025: $245,1082025

Highlighted filing

2021

Revenue$696,855
Expenses$573,126
Net Income$123,729
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 5, 2022
Return Version
2020v4.0
Gross Receipts
$722,544
Mission and Program Overview

Mission

Our mission is to provide high-quality education in all aspects of the Korean heritage by offering classes in Korean language arts, history, and cultural traditions from pre-K to adults.We aim to make the unique experience of Korean heritage accessible to a wide audience, maintaining high academic rigor alongside hands-on immersive cultural experiences.

Education of Korean language and culture to anyone interested in learning

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,057,930$1,181,659▲ $123,729
Cash and Non-Interest-Bearing Accounts$683,559$821,753▲ $138,194
Savings and Temporary Cash Investments$436,222$436,784▲ $562
Investments in Publicly Traded Securities$22,064$16,179▼ $5,885
Land, Buildings, and Equipment, Net$58$3▼ $55
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,141,903$1,274,719▲ $132,816
Other Assets Total-$0-
Liabilities
Other Liabilities$83,973$93,060▲ $9,087
Total Liabilities$83,973$93,060▲ $9,087
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,057,930$1,181,659▲ $123,729
Total Liabilities and Net Assets / Fund Balance$1,141,903$1,274,719▲ $132,816

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3$10,265$10,268
Equipment-$9,033$9,033
Compensation and Service Providers
Top Officer Pay43rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Young Sook KimPresidentPT$24,379$24,379
Nan Mo MoonVice PrincipalPT$17,600$17,600

Board Members and Trustees

NameTitle
S Michael LeeChairman
Juyeon LeeCommunity Director
David ChunDirector
Jane LeeDirector
Ok Soon AnDirector
Sunai RaillardDirector
Anabela PakPTA Leader
Keunbone KimPTA Leader
Meredith ParkSecretary
Daniel ChoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$178,132
Program Service Revenue
$523,818
Investment Income
$-5,095
Other Revenue
$0
All Other Contributions
$83,532
Change in Net Assets
$123,729
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$424,248
Other Expenses$148,878
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$302,561$43,599-$346,160
Occupancy$52,178--$52,178
Current Officers, Directors, Trustees, and Key Employees-$41,979-$41,979
Payroll Taxes$28,690$7,419-$36,109
All Other Expenses$9,236$11,041-$20,277
Office Expenses$11,984$2,161-$14,145
Fees for Services Accounting-$10,879-$10,879
Other Expenses$6,299$6,611-$6,299
Insurance-$5,361-$5,361
Conferences and Meetings$220--$220
Depreciation Depletion$55--$55
Total Functional Expenses$436,837$136,289$0$573,126
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
PPP Loan Payble$90,900
Payroll Taxes Payable$2,160
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The tax return is sent to each board member for a review before filing the tax return.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The members review the policy and sign the acknowledgment.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The information is available upon request.”

Filing and Contact Details

Filer

Filer Name
Silicon Valley Korean School
EIN
91-2013547
Phone
4082025048
Address
P O Box 3129, Santa Clara, CA 95055

Signing Officer

Name
Young Sook Kim
Title
Principal
Signed
2022-05-05
Discuss with paid preparer
Yes

Organization Details

Formed
1997
Legal Domicile
CA
Voting Board Members
12
Independent Board Members
6
Employees
79
Volunteers
178

Preparer

Firm
Cathy Cha CPA Inc
Address
21070 HOMESTEAD RD STE 205, CUPERTINO, CA 95014
Preparer
Cathy Cha
Phone
4088992560
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IRS990/OccupancyGrp/TotalAmt052178
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt02161
IRS990/OfficeExpensesGrp/ProgramServicesAmt011984
IRS990/OfficeExpensesGrp/TotalAmt014145
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Student Actvitiy
IRS990/OtherExpensesGrp/Desc1Web Support
IRS990/OtherExpensesGrp/Desc2Equipment Rental
IRS990/OtherExpensesGrp/Desc3Event Costs
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt07239
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt16611
IRS990/OtherExpensesGrp/ProgramServicesAmt025614
IRS990/OtherExpensesGrp/ProgramServicesAmt16299
IRS990/OtherExpensesGrp/TotalAmt025614
IRS990/OtherExpensesGrp/TotalAmt17239
IRS990/OtherExpensesGrp/TotalAmt26611
IRS990/OtherExpensesGrp/TotalAmt36299
IRS990/OtherLiabilitiesGrp/BOYAmt083973
IRS990/OtherLiabilitiesGrp/EOYAmt093060
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt043599
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0302561
IRS990/OtherSalariesAndWagesGrp/TotalAmt0346160
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt07419
IRS990/PayrollTaxesGrp/ProgramServicesAmt028690
IRS990/PayrollTaxesGrp/TotalAmt036109
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Program Service Revenue
IRS990/ProgramServiceRevenueGrp/ExclusionAmt0523818
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0523818
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt084521
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt09780
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0241446
IRS990/PYProgramServiceRevenueAmt0517051
IRS990/PYRevenuesLessExpensesAmt0-44796
IRS990/PYSalariesCompEmpBnftPaidAmt0414702
IRS990/PYTotalExpensesAmt0656148
IRS990/PYTotalRevenueAmt0611352
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0123729
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01057930
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01181659
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0436222
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0436784
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09033
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09033
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt010265
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt010268
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02160
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt190900
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll Taxes Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PPP Loan Payble
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03
IRS990ScheduleD/TotalLiabilityAmt093060
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0From school's website:NOTICE OF NONDISCRIMINATORY POLICYThe Silicon Valley Korean School (SVKS) admits students, who want to learn Korean language and culture, of any race, nationality and ethnic origin to all the rights, privileges, programs and activities generally accorded or made available to students at the school. It does not discriminate on the basis of race, color, national or ethnic origin in administration of its educational policies, admissions policies, scholarship and loan programs, and athletic and other school-administered programs.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The tax return is sent to each board member for a review before filing the tax return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The members review the policy and sign the acknowledgment.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The information is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01141903
IRS990/TotalAssetsEOYAmt01274719
IRS990/TotalAssetsGrp/BOYAmt01141903
IRS990/TotalAssetsGrp/EOYAmt01274719
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0178132
IRS990/TotalEmployeeCnt079
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0136289
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0436837
IRS990/TotalFunctionalExpensesGrp/TotalAmt0573126
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt083973
IRS990/TotalLiabilitiesEOYAmt093060

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,274,719
Liabilities
$93,060
Net assets
$1,181,659
Revenue
$696,855
Expenses
$573,126
Net income
$123,729
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.10$0.00$2.10$1.21$0.96$0.25
2024Detailed filing. Detailed filing data is available for this year.$1.85$0.00$1.85$1.02$0.87$0.15
2023Detailed filing. Detailed filing data is available for this year.$1.70$0.00$1.70$0.99$0.79$0.21
2022Detailed filing. Detailed filing data is available for this year.$1.50$0.00$1.49$0.98$0.67$0.31
2021Detailed filing. Detailed filing data is available for this year.$1.27$0.09$1.18$0.70$0.57$0.12
2020Detailed filing. Detailed filing data is available for this year.$1.14$0.08$1.06$0.61$0.66$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.11$0.01$1.10$0.81$0.75$0.06
2018Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.05$0.77$0.71$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.99$0.00$0.99$0.77$0.72$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.95$0.01$0.94$0.78$0.71$0.07
2015Detailed filing. Detailed filing data is available for this year.$0.88$0.02$0.87$0.76$0.67$0.09
2014Detailed filing. Detailed filing data is available for this year.$0.80$0.02$0.78$0.56$0.58$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.81$0.01$0.80$0.48
2011Summary only. Only limited summary data is available for this year.$0.70$0.01$0.69$0.40$0.35$0.05