Korea Music Foundation Inc
Nonprofit profile at a glance
- EIN
- 133255396
- IRS 990-EZ coverage
- 2024–2024
- Forms available
- Form 990 2023, Form 990-EZ 2024, Form 990-N 2022
- Location
- Nyack, NY, USA
- Phone
- 2017045800
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Arts, Culture, and Humanities
Reported finances
- Revenue
- $153,747
- Expenses
- $140,666
- Assets
- $65,842
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
Executive titles in this filing
- KYUNG HEE KIM (PRESIDENT)
People named in this filing
- KYUNG HEE KIM (PRESIDENT)
- TAEJA KIM (EXECUTIVE BO)
- SUNGHEE CHO (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-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To stimulate public interest in good music, to offer an opportunity to those interested in music to perform musical compositions of merit
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- 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: 92
- Transparency & Controls: 91
- Sustainability: 44
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 89.3%; rating input score 89
- Program expense ratio: 97.6%; rating input score 98
Transparency & Controls
- Consistency checks: 88.9%; rating input score 89; 1st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 8.5%; rating input score 55; 55th percentile among comparable filings
- Total-asset coverage ratio: 0.47; rating input score 36; 36th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 6.2% per year; rating input score 100; 53rd percentile among comparable filings
- Asset growth: 0.1% per year; rating input score 100; 28th percentile among comparable filings
Details
- Where the money goes: 89.3% of revenue deployed · 97.6% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $137K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 3 filed schedules
- 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.
- Review — Sustainability: Operating margin scored 55/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 36/100.