Korean Culture & Art of Maryland Inc

Nonprofit profile at a glance

EIN
823170141
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Ellicott City, MD, USA
Phone
4438670464
Rating
32
Verdict
REVIEW
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$82,685
Expenses
$85,639
Assets
$-2,954
Liabilities
$0

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

Leadership & pay

1 person listed

People named in this filing

  • MYUN-KI KIM (OFFICER)

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 organization is formed are as follows to study korean culture & art to share with american public, and let them participate cultural activities in community and school.

What it reported doing in 2024

Performence korean culture & art to american society

Operating model

Revenue model
Donor-supported. 62% 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

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 19
  • Transparency & Controls: 72
  • Accountability: 6
  • Sustainability: 31
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 19.5%; rating input score 19
  • Program expense ratio: 18.8%; rating input score 19
  • Fundraising efficiency: $2.14 raised per $1 spent on fundraising; rating input score 23; 23rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 80%; rating input score 80; 2nd 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: Limited
  • 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: -3.6%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: -0.03; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 19.5% of revenue deployed · 18.8% of spending went to programs
  • Governance: 1 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $16K in reported program spending
  • Leadership: top reported pay $0 · 1 people listed
  • Consistency: 16 of 18 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules
  • 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 — Financial Efficiency: Mission deployment rate scored 19/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Financial Efficiency: Program expense ratio scored 19/100.
  • High — Financial Efficiency: Fundraising efficiency scored 23/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Moderate — Transparency & Controls: Independent members within voting members did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule G fundraiser detail did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 51/100.