Korean Heritage Scholarship Foundation

Nonprofit profile at a glance

EIN
954459495
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Los Angeles, CA, USA
Phone
2133804646
Rating
56
Verdict
MIXED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$58,110
Expenses
$39,007
Assets
$1,211,367
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • Hyung Jin Park (President)

People named in this filing

  • Hyung Jin Park (President)
  • Anna Cho (Secretary)
  • Choon Taik Lim (Treasurer)

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

Scholarship Paid

Operating model

Revenue model
Investment-supported. 97% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 93
  • Accountability: 0
  • Sustainability: 78
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53.4%; rating input score 53
  • Program expense ratio: 76.9%; rating input score 77
  • 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: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 9th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 32.9%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 31.06; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -4.2% per year; rating input score 0; 40th percentile among comparable filings
  • Revenue growth: 8.8% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: -0.7% per year; rating input score 0; 36th percentile among comparable filings

Details

  • Where the money goes: 53.4% of revenue deployed · 76.9% of spending went to programs
  • Governance: 0 of 3 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $30K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules · includes grants
  • Filing history: 9 filing years from 2015 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.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.