Love Korean Church

Nonprofit profile at a glance

EIN
953945808
IRS 990 coverage
2014–2014
Forms available
Form 990 2014
Location
Los Angeles, CA, USA
Rating
32
Verdict
REVIEW
Rating confidence
Moderate
Sector
Christianity
Affiliation
Christianity

Reported finances

Revenue
$289,636
Expenses
$268,485
Assets
$652,051
Liabilities
$524,052

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • Jae Sik Ha (Sr pastor and CEO)

Highest reported compensation

  • Seung Wook Lee (Pastor): $30,000 total reported compensation
  • Jae Sik Ha (Sr pastor and CEO): $26,400 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To glorify God and share gospel

What it reported doing in 2014

To glorify God and share gospel.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
No current program activity. The filing reports no program spending for the current year.

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: 90
  • Accountability: 10
  • Sustainability: 51
  • 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: Limited
  • 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; 6th percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.3%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 2.43; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.8; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 21%; rating input score 19; 19th 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 4 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $30K · 2 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 3 filed schedules
  • Contacts: How to reach this organization
  • Money network: 2 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.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.