Korean American Family Services Inc
Nonprofit profile at a glance
- EIN
- 953899329
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Los Angeles, CA, USA
- Phone
- 2133896755
- Rating
- 90
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Ethnic, Immigrant Centers
Reported finances
- Revenue
- $9,104,479
- Expenses
- $7,972,985
- Assets
- $9,209,617
- Liabilities
- $1,230,042
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- KATHERINE YEOM (EXECUTIVE DIRECTOR)
Highest reported compensation
- KATHERINE YEOM (EXECUTIVE DIRECTOR): $137,946 total reported compensation
- JENNIFER OH (DEPUTY DIRECTOR): $114,330 total reported compensation
- AMY YI (FINANCE MANAGER): $77,559 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To support and strengthen korean american families and individuals in the greater los angeles area through counseling, education, and other social services. Since its inception in 1983, kfam has provided assistance to tens of thousands of korean americans particularly women, children, immigrants, and low-income families. Kfam specializes in providing linguistically and culturally appropriate services through its bilingual and bicultural staff.
What it reported doing in 2024
Asian adoption and foster family initiative - as the nation's first and only asian pacific islander-focused foster family agency, kafs provides recruitment, training and support for api foster parents to provide culturally nurturing and safe temporary homes to foster children. Services are provided in english, korean, chinese, tagalog and vietnamese. Program services include prevention and intervention programs, adoption, parenting workshops, supervised visitations with birth parents and other family support services. During the fiscal year, 15 children were placed in affi foster families and served 4,000 clients through its community program.
Operating model
- Revenue model
- Grant-funded. 80% of the money available for current operations came from government grants.
- 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 total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 92
- Accountability: 95
- Sustainability: 57
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 83.8%; rating input score 84
- Program expense ratio: 94.9%; rating input score 95
- Fundraising efficiency: $315.57 raised per $1 spent on fundraising; rating input score 94; 94th 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; 63rd percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 12.4%; rating input score 67; 67th percentile among comparable filings
- Total-asset coverage ratio: 1.16; rating input score 42; 42nd percentile among comparable filings
- Liabilities to assets ratio: 0.13; rating input score 53; 53rd percentile among comparable filings
- Officer compensation ratio: 4.1%; rating input score 60; 60th percentile among comparable filings
Growth
- Program expense growth: 3.8% per year; rating input score 100; 32nd percentile among comparable filings
- Revenue growth: 6.7% per year; rating input score 100; 53rd percentile among comparable filings
- Asset growth: 20.8% per year; rating input score 100; 85th percentile among comparable filings
Details
- Where the money goes: 83.8% of revenue deployed · 94.9% of spending went to programs
- Governance: 15 of 15 board members independent · 8 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $7.6M in reported program spending
- Leadership: top reported pay $138K · 18 people listed
- Consistency: 34 of 34 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 11 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 3 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 42/100.
- Review — Sustainability: Liabilities to assets ratio scored 53/100.