Korean Service Center

Overview

Mission

The Korean Service Center is dedicated to provide needed resources and services to vulnerable Koreans and other immigrant-Americans while striving to promote their rich cultural heritage for all international people.

What it reported doing in 2024

The Organization's Long-Term Care program provides 24-hour customized living support services. The program prioritizes seniors aged 65 and older who have immigrated to the United States and may face language and cultural barriers. This program also offers vital transportation services for hospital visits and medical appointments. Serving approximately 500 cases per year, the program supports seniors aged 65 and older, as well as individuals under 65 with disabilities. This service ensures that clients can access essential healthcare safely and reliably, reducing barriers caused by mobility, language, or cultural challenges. The goal is to help these seniors live independently, healthily, and comfortably in their own homes.

Operating model

Revenue model
Earned-program. 67% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
411678348
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Minneapolis, MN, USA
Phone
6123421344
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Senior Centers

Official website

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.8%; rating input score 55
  • Program expense ratio: 76.9%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 26.6%; rating input score 82; 82nd percentile among comparable filings
  • Total-asset coverage ratio: 1.83; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 5.7%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 2% per year; rating input score 100; 22nd percentile among comparable filings
  • Revenue growth: 7.3% per year; rating input score 100; 56th percentile among comparable filings
  • Asset growth: 18.5% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 54.8% of revenue deployed · 76.9% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $97K · 12 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

12 people listed

Highest reported compensation

  • Kwangja Kwon (Executive Director): $96,811 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.