Friends of Grace Seniors Inc Dba Korean Community Center

Nonprofit profile at a glance

EIN
223711536
IRS 990 coverage
2014–2025
Forms available
Form 990 2025
Location
Tenafly, NJ, USA
Phone
2125411200
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Senior Centers

Official website

Reported finances

Revenue
$90,620
Expenses
$138,131
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • KYUNGMUN NAM (CEO)
  • MYOUNGMI KIM (President & CEO)

Highest reported compensation

  • KYUNGMUN NAM (CEO): $6,385 total reported compensation
  • JUNGHYE AHN (Dir Health&Soc): $5,321 total reported compensation
  • SEUNGHEE KANG (Dir Oper&Comm): $5,214 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote healthy and independent living for all ages and to integrate the people with Korean Heritage into the greater community through culture and education, outreach, health and social services, and civic advocacy.

What it reported doing in 2025

Provided senior care service through care management program, information, assistance, and benefit screening. Provided preventive health services including community health disparity prevention program, aging and disability resource centers care management program, health screening, health education, and immunization services. Advertised programs in the web and newspaper to induce public to join the programs. Performed art contest to create opportunities for the children, middle and high school students of KCC family members to receive recognition, encourage personal growth and confidence, offer professional development, meet and network with young professionals, etc.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 82
  • Sustainability: 14
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.8%; rating input score 82
  • Fundraising efficiency: $3.74 raised per $1 spent on fundraising; rating input score 32; 32nd percentile among comparable filings

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; 64th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -52.4%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 3; 3rd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 18.3%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: -8.3% per year; rating input score 0; 33rd percentile among comparable filings
  • Asset growth: -5.1% per year; rating input score 0; 20th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 81.8% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $113K in reported program spending
  • Leadership: top reported pay $6K · 10 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2025
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 32/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 3/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.