Korean Community Center Inc

Nonprofit profile at a glance

EIN
742072217
IRS 990 coverage
2011–2012
Forms available
Form 990 2012, Form 990-N 2008
Location
Houston, TX, USA
Rating confidence
Limited
Sector
Single Organization Support

Reported finances

Revenue
$99,476
Expenses
$106,486
Assets
$717,507
Liabilities
$3,468

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

16 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To enrich and bring together the korean and neighboring communities through educational, social service, heritage and cultural programs.

What it reported doing in 2012

The korean cultural center(moonhwaone) of houston was established in september 2011. The main purpose is to prepare a central stage for sharing happiness and joy to immigrant life by providing a variety of things to do and things to learn to koreans in houston. Now we provide various cultural classes for the opportunity to learn specialized knowledge.

Operating model

Revenue model
Earned-program. 85% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 91
  • Accountability: 69
  • Sustainability: 46
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 12th 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; 65th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • 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%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 6.74; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 3.4%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: -1.4% per year; rating input score 0; 46th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 16 of 16 board members independent · 2 of 8 filing controls reported
  • Programs: 5 filed program accomplishments · $96K in reported program spending
  • Leadership: top reported pay $4K · 16 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 2 filing years from 2011 to 2012
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.