Korean American Association of Indiana Inc

Nonprofit profile at a glance

EIN
832643174
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Indianapolis, IN, USA
Phone
3173456958
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Ethnic, Immigrant Centers

Reported finances

Revenue
$105,351
Expenses
$97,120
Assets
$108,428
Liabilities
$1,000

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

Leadership & pay

16 people listed

Executive titles in this filing

  • Hai soo Woo (President)
  • Sung J Kim (Vice President)

People named in this filing

  • BJ Sung (Director)
  • Samuel K Huh (Director)
  • Lewis Lee (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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To promote fellowship and ties between Korean-Americans contributing to the development of Korean American society.

What it reported doing in 2024

K-Golf program: Golf outing event for fundraising to build Indiana Korean Center. - 5/5/2024 Pebblebrook Golf Club - Golf outing and fundraising for Korean-American Association Building

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 99% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 85
  • Accountability: 82
  • Sustainability: 53
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.6%; rating input score 71
  • Program expense ratio: 76.6%; rating input score 77
  • Fundraising efficiency: $7.27 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th 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; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: 7.8%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 1.12; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 13.4% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: -1.1% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: 3.9% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 70.6% of revenue deployed · 76.6% of spending went to programs
  • Governance: 16 of 16 board members independent · 4 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $74K in reported program spending
  • Leadership: top reported pay $0 · 16 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2019 to 2024
  • 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: Fundraising efficiency scored 31/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 56/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.