Korean Evangelical Methodist Church of Minnesota

Nonprofit profile at a glance

EIN
922464738
IRS 990 coverage
2023–2023
Forms available
Form 990 2023
Location
Wayzata, MN, USA
Phone
9522140007
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Christianity
Affiliation
Christianity

Reported finances

Revenue
$68,815
Expenses
$64,815
Assets
$2,045,000
Liabilities
$40,000

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

5 people listed

Highest reported compensation

  • Won Geun Lee (Rev.): $20,000 total reported compensation
  • Eric Shin (Rev.): $8,750 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

We are a Methodist church that seeks to proclaim the Gospel of the Lord Jesus Christ, establish and maintain religious worship, educate believers in a manner consistent with the requirements of Holy Scripture and maintain missionary activities in the United States and around the world. The primary activities of our Church will be holding worship services regularly on Sundays as well as specialized services on Wednesday evenings, Friday evenings, and Saturday mornings. To actively take the Church to our neighbors close and far away, we will conduct missionary work on a regular basis. We have conducted outreach programs for the assisted living homes, homeless encampments in the inner city, and Native Americans in South Dakota. We will continue these primary functions of a living Church.

What it reported doing in 2023

Our main Korean language worship service for adults and English language worship service for adults will allow all members to fully engage with our Church.

Operating model

Revenue model
Donor-supported. 100% 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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 71
  • Sustainability: 59
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.2%; rating input score 94
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 77.8%; rating input score 78; 24th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.8%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 31.55; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 44.4%; rating input score 8; 8th percentile among comparable filings

Growth

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

Details

  • Where the money goes: 94.2% of revenue deployed · 100% of spending went to programs
  • Governance: 7 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $65K in reported program spending
  • Leadership: top reported pay $20K · 5 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 8/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.