Chicago Korean American Chamber of Commerce
Nonprofit profile at a glance
- EIN
- 363712370
- IRS 990-EZ coverage
- 2013–2013
- Forms available
- Form 990-EZ 2013, Form 990-N 2013
- Location
- Chicago, IL, USA
- Phone
- 7735831700
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $171,765
- Expenses
- $205,488
- Assets
- $125,102
- Liabilities
- $158,636
Source: IRS Form 990-EZ. Selected filing: tax year 2013. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- YONG CHUL KWON (PRESIDENT)
People named in this filing
- YONG CHUL KWON (PRESIDENT)
- KELLY NOH (CHAIRMAN)
- CHARLIE CHO (DIRECTOR)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Chamber of commerce
What it reported doing in 2013
Korean festival christmas annual ball to provide cultural exchange opportunities with various communities, to raise fund for contribution, seminars, chamber activities and members support, to promote fellowship between members
Operating model
- Revenue model
- Earned-program. 81% 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.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 100
- Transparency & Controls: 82
- Sustainability: 21
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 100%; rating input score 100
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -19.6%; rating input score 7; 7th percentile among comparable filings
- Total-asset coverage ratio: 0.61; rating input score 48; 48th percentile among comparable filings
- Liabilities to assets ratio: 1.27; rating input score 6; 6th percentile among comparable filings
- Officer compensation ratio: 8.4%; rating input score 28; 28th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 100% of revenue deployed · 100% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments · $205K in reported program spending
- Leadership: top reported pay $0 · 14 people listed
- Consistency: 7 of 7 current checks pass
- Schedules: 2 filed schedules
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Sustainability: Operating margin scored 7/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
- High — Sustainability: Liabilities to assets ratio scored 6/100.
- High — Sustainability: Officer compensation ratio scored 28/100.
- High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.