Korean Language Foundation Inc
Nonprofit profile at a glance
- EIN
- 261446135
- IRS 990-EZ coverage
- 2010–2024
- Forms available
- Form 990 2017, Form 990-EZ 2024
- Location
- New York, NY, USA
- Rating
- 88
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $121,340
- Expenses
- $112,144
- Assets
- $126,542
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- SUN GUN LEE (PRESIDENT)
People named in this filing
- YUNG DUK KIM (CHAIRMAN OF)
- SUN GUN LEE (PRESIDENT)
- TAE MYUNG HONG (VICE PRESIDE)
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
Promoting the adoption of korean language as an official foreign language in the public schools and educational advancement of korean culture and language for the students in nation wide.
What it reported doing in 2024
Korea visit program: offers opportunities to visit korea for principals in public middle and high school where the schools are currently having korean language classes or planning to have one in the school to gain an understanding and an experience about ancient and kodern korean historym culture, social, economic development of the korean society, and korean education system.
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
STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 80
- Transparency & Controls: 100
- Sustainability: 51
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 77.9%; rating input score 78
- Program expense ratio: 84.3%; rating input score 84
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: 7.6%; rating input score 53; 53rd percentile among comparable filings
- Total-asset coverage ratio: 1.13; rating input score 63; 63rd percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings
Growth
- Program expense growth: 5.5% per year; rating input score 100; 49th percentile among comparable filings
- Revenue growth: 4.3% per year; rating input score 100; 44th percentile among comparable filings
- Asset growth: 10.5% per year; rating input score 100; 63rd percentile among comparable filings
Details
- Where the money goes: 77.9% of revenue deployed · 84.3% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 4 filed program accomplishments · $95K in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 3 filed schedules
- Filing history: 13 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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 — Sustainability: Operating margin scored 53/100.