Koreanamericanstoryorg Inc

Nonprofit profile at a glance

EIN
272032949
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017, Form 990-N 2012
Location
Scarsdale, NY, USA
Phone
9146238847
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Cultural, Ethnic Awareness

Official website

Reported finances

Revenue
$727,132
Expenses
$492,334
Assets
$740,693
Liabilities
$14,891

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

Leadership & pay

12 people listed

Executive titles in this filing

  • HJ LEE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • HJ LEE (EXECUTIVE DIRECTOR): $93,076 total reported compensation

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

Overview

Mission

Koreanamericanstoryorg inc. Seeks to capture, create, preserve and share the stories of the korean american experience by supporting and promoting storytelling in all forms that explore and reflect the ever evolving korean american story. Koreanamericanstoryorg inc. Seeks to be an inclusive hub that bridges the gap between communities and helps to instill cultural awareness and pride among the korean american community.

What it reported doing in 2024

Historical preservation and education. The organization seeks to capture, create, preserve and share the korean american experience by collecting and sharing stories from korean americans from all walks of life. These stories are presented in film, media and print to both preserve the korean american experince and educate future generations.

Operating model

Revenue model
Cannot be determined from the filing. The filing does not provide enough consistent revenue detail to tell how this nonprofit funds its work.
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 total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 86
  • Accountability: 84
  • Sustainability: 66
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 56.5%; rating input score 56
  • Program expense ratio: 83.4%; rating input score 83
  • Fundraising efficiency: $31.85 raised per $1 spent on fundraising; rating input score 70; 70th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 32.3%; rating input score 86; 86th percentile among comparable filings
  • Total-asset coverage ratio: 1.5; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 62; 62nd percentile among comparable filings
  • Officer compensation ratio: 18.9%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 19% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 21.1% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 23.3% per year; rating input score 100; 85th percentile among comparable filings

Details

  • Where the money goes: 56.5% of revenue deployed · 83.4% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $411K in reported program spending
  • Leadership: top reported pay $93K · 12 people listed
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 56/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.