Korean American Medical Foundation Inc
Nonprofit profile at a glance
- EIN
- 262851129
- IRS 990-EZ coverage
- 2014–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2013
- Location
- Englewood Cliffs, NJ, USA
- Phone
- 2015671434
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $5,978
- Expenses
- $93,615
- Assets
- $38,665
Source: IRS Form 990-EZ. 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
- CHESTER KOH (CHAIRMAN)
- MICHELLE KIM (DIRECTOR)
- JOHN H WON (PRESIDENT)
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
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 under Maryland 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. 83% 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 program spending has declined or grown slowly.
Rating breakdown
- Financial Efficiency: 99
- Transparency & Controls: 82
- Sustainability: 15
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 96.6%; rating input score 97
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -1,466%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 0.41; rating input score 26; 26th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: -4% per year; rating input score 0; 38th percentile among comparable filings
- Revenue growth: -13.5% per year; rating input score 0; 20th percentile among comparable filings
- Asset growth: 13.8% per year; rating input score 100; 79th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 96.6% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 2 filed program accomplishments · $90K in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 2 filed schedules
- Filing history: 10 filing years from 2014 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 — Sustainability: Operating margin scored 1/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 26/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.