Korean Methodist Church of Detroit

Nonprofit profile at a glance

EIN
931523283
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Troy, MI, USA
Phone
2488792240
Rating
27
Verdict
REVIEW
Rating confidence
Moderate
Affiliation
Christianity

Reported finances

Revenue
$2,594,829
Expenses
$2,351,379
Assets
$6,743,521
Liabilities
$1,643,615

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

Leadership & pay

7 people listed

Highest reported compensation

  • Eungyong Kim (Senior Pastor): $76,520 total reported compensation
  • sung Soo Ryu (Associate Pastor): $70,233 total reported compensation
  • Tae Hong Kwon (Associate Pastor): $62,135 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Purpose is organizing operating and maintaining the church as a place of worship and for the mutual and spiritual benefit of its membership.

What it reported doing in 2024

Sunday School for youth and children - Largest program by the Church measured by expenses is the Churchs Sunday school program for children and youth. Weekly program management as well as special events such as summer retreats Vacation Bible Schools and Sunday School Teacher training comprise the expenses. Revenue is related to registration fee charged for various programs such as the summer retreats and Vacation Bible School.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

REVIEW - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 71
  • Accountability: 16
  • Sustainability: 56
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.4%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 2.87; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 17.9%; rating input score 14; 14th percentile among comparable filings

Growth

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

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 45 board members independent · 3 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $2.4M in reported program spending
  • Leadership: top reported pay $77K · 7 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 36 of 41 current checks pass · 5 findings to review
  • Schedules: 4 filed schedules · includes executive pay
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • 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 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 5 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 14/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX CompCurrentOfficersDirectors column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX Interest column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX OtherSalariesAndWages column sum did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.