Kaesong Foundation

Nonprofit profile at a glance

EIN
850795572
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Raleigh, NC, USA
Phone
9199283894
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Christianity
Affiliation
Christianity

Reported finances

Revenue
$49,787
Expenses
$47,034
Assets
$518,249
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • MARK LEE (PRESIDENT)
  • SUNGSOOK LEE (VICE PRESIDENT)

People named in this filing

  • MARK LEE (PRESIDENT)
  • SUNGSOOK LEE (VICE PRESIDENT)
  • DIANA LEE (TREASURER)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Spread god's love, promises and grace by delivering humanitarian aid and relief to the poor.

What it reported doing in 2024

The nonprofit made donations to various churches and provided small group meals for one church. The nonprofit is researching into funding christian mission trips that provide education, subsistence, and supplies for undeveloped communities.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 91% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 79
  • Accountability: 30
  • Sustainability: 63
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.9%; rating input score 84
  • Program expense ratio: 58.6%; rating input score 59
  • Fundraising efficiency: $23.39 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 64%; rating input score 64; 47th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 5.5%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 11.02; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 7.5% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: -47.3% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: 9.3% per year; rating input score 100; 78th percentile among comparable filings

Details

  • Where the money goes: 83.9% of revenue deployed · 58.6% of spending went to programs
  • Governance: 0 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $28K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.