Cornerstone Korean Baptist Church
Nonprofit profile at a glance
- EIN
- 461009185
- IRS 990 coverage
- 2022–2022
- Forms available
- Form 990 2022
- Location
- Carrollton, TX, USA
- Phone
- 4696311303
- Rating
- 30
- Verdict
- REVIEW
- Rating confidence
- Moderate
- Sector
- Christianity
- Affiliation
- Christianity
Reported finances
- Revenue
- $342,047
- Expenses
- $386,176
- Assets
- $412,183
- Liabilities
- $39,430
Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.
Leadership & pay
2 people listed
People named in this filing
- CHANG DUK LIM (Director)
- YOUNG HOON OH (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. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To preach missions, nurture, worship, servant, Jesus, and to be a resource in the community. To make disciples of Jesus Christ for the transformation of the world.
What it reported doing in 2022
MISSIONARY (Domestic and Foreign)
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 82% of its reported program spending out as grants.
The verdict
REVIEW - The strongest available result is that the filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.
Rating breakdown
- Financial Efficiency: 30
- Transparency & Controls: 51
- Accountability: 6
- Sustainability: 34
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 34.8%; rating input score 35
- Program expense ratio: 30.8%; rating input score 31
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 80%; rating input score 80; 1st percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 0%; rating input score 0; 19th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
- Governance controls: 1 of 7 controls in place; rating input score 14
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Fail
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -12.9%; rating input score 21; 21st percentile among comparable filings
- Total-asset coverage ratio: 1.07; rating input score 41; 41st percentile among comparable filings
- Liabilities to assets ratio: 0.1; rating input score 29; 29th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 70; 70th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 34.8% of revenue deployed · 30.8% of spending went to programs
- Governance: 0 of 2 board members independent · 1 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $119K in reported program spending
- Leadership: top reported pay $0 · 2 people listed
- Consistency: 15 of 17 current checks pass · 2 findings to review
- Schedules: 3 filed schedules · includes grants
- Contacts: How to reach this organization
- 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 35/100.
- High — Accountability: Independent voting board scored 0/100.
- Moderate — Financial Efficiency: Program expense ratio scored 31/100.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- High — Accountability: Governance controls: 5 of 6 not reported.
- High — Sustainability: Operating margin scored 21/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Transparency & Controls: Foreign grants require schedule f did not reconcile in the filed values.
- Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
- High — Sustainability: Liabilities to assets ratio scored 29/100.