Korean Institute of Minnesota
Nonprofit profile at a glance
- EIN
- 411338929
- IRS 990-EZ coverage
- 2021–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2021
- Location
- Golden Valley, MN, USA
- Phone
- 2158884672
- Rating
- 85
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Cultural, Ethnic Awareness
Reported finances
- Revenue
- $75,133
- Expenses
- $65,995
- Assets
- $164,481
- Liabilities
- $40,765
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
People named in this filing
- Andres Gelabert (Board Chair)
- Kari Scanlon (Itermin Treasurer)
- Jennifer Arndt-Johns (Scribe & Director)
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
To provide knowledge, pride and understanding of Korea's culture and people; To teach Korean language with the basis that being multilingual is desirable in our global society; To provide a resource center for people with links to Korea, their families, friends, educators and the community at large.
What it reported doing in 2024
In 2025, the Korean Institute of Minnesota (KIM) completed its 50th year of providing community-based Korean language and cultural education to hundreds of students. In addition, the organization continued its ongoing working collaboration with the Korean Adoptees Ministry, Korean Quarterly and other community-based organizations. In May of 2025, KIM facilitated a cultural competency training for the staff at the Minnesota Children's Hospital. One of the large-scale efforts underway with the organization is getting the organizational history organized and archived in preparation for a 50th Anniversary celebration. It is intended that the organization's history will be archived at the University of Minnesota's Immigration History Research Center.
Operating model
- Revenue model
- Earned-program. 75% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 85% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Reported officer compensation is a large share of total spending, which may reflect staffing concentration and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 100
- Sustainability: 53
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 69.9%; rating input score 70
- Program expense ratio: 79.6%; rating input score 80
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 12.2%; rating input score 65; 65th percentile among comparable filings
- Total-asset coverage ratio: 2.49; rating input score 70; 70th percentile among comparable filings
- Liabilities to assets ratio: 0.25; rating input score 13; 13th percentile among comparable filings
- Officer compensation ratio: 34.9%; rating input score 5; 5th percentile among comparable filings
Growth
- Program expense growth: 16.9% per year; rating input score 100; 80th percentile among comparable filings
- Revenue growth: 15.8% per year; rating input score 100; 87th percentile among comparable filings
- Asset growth: 9.4% per year; rating input score 100; 71st percentile among comparable filings
Details
- Where the money goes: 69.9% of revenue deployed · 79.6% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 1 filed program accomplishment · $53K in reported program spending
- Leadership: top reported pay $0 · 7 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 3 filed schedules
- Filing history: 4 filing years from 2021 to 2024
- 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.
- High — Sustainability: Officer compensation ratio scored 5/100.
- High — Sustainability: Liabilities to assets ratio scored 13/100.