Korean American Medical Association of USA Inc

Nonprofit profile at a glance

EIN
823304552
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Englewood Cliffs, NJ, USA
Phone
2015671434
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$479,999
Expenses
$379,074
Assets
$199,138
Liabilities
$469

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

Leadership & pay

7 people listed

Executive titles in this filing

  • JOHN H WON (PRESIDENT)

People named in this filing

  • BRICE CHOI (DIRECTOR)
  • MICHELLE KIM (DIRECTOR)
  • CHESTER KOH (CHAIRMAN)

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

The purposes for which the corporation is formed are to provide both domestic and foreign support to doctors, medical students, and other healthcare providers deserving of assistance. More specifically, the purposes of the corporation shall include the following: (i) providing funding and support to disadvantaged students seeking an edcuation in the medical field; (ii) scholarships and fellowships to medical students and doctors and providing training through various exchange programs; (iii) distributing medical equipment, materials, and supplies to healthcare providers in need of assistance; (iv) supporting other organizations that provide the foregoing services consistent with the corporations purposes; and (v) to do any other act or thing necessary or incidental to or connected with the foregoing purposes or in advancement thereof, but not for the pecuniary profit or financial gain of its members, if any, directors, officers, except as permitted by law.

What it reported doing in 2024

To provide domestic and foreign support to medical associations, doctors, medical students, and healthcare providers deserving of assistance.

Operating model

Revenue model
Donor-supported. 98% 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

SUPPORTED - 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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 57
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.3%; rating input score 73
  • Program expense ratio: 92.3%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

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

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 21%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 0.53; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 6.7% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: -0.4% per year; rating input score 0; 22nd percentile among comparable filings
  • Asset growth: 9.2% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 73.3% of revenue deployed · 92.3% of spending went to programs
  • Governance: 7 of 7 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $350K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 5 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.