Memphis Korean Association

Nonprofit profile at a glance

EIN
621511835
IRS 990-EZ coverage
2010–2010
Forms available
Form 990-EZ 2010
Location
Memphis, TN, USA
Rating
64
Verdict
SUPPORTED
Rating confidence
Limited
Sector
Cultural, Ethnic Awareness

Reported finances

Revenue
$29,050
Expenses
$33,659
Assets
$2,442

Source: IRS Form 990-EZ. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

2 people listed

Source: IRS Form 990-EZ. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support korean-american community

What it reported doing in 2010

Annual new year celebration for all koreanamericans in memphisshelby county area recognized outstanding koreanamericans for their dedicated services

Operating model

Revenue model
Membership-supported. 100% of the money available for current operations came from membership dues.
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 - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 82
  • Sustainability: 14
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.2%; rating input score 65
  • Program expense ratio: 56.3%; rating input score 56

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 50th percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -15.9%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 0.07; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

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

Details

  • Where the money goes: 65.2% of revenue deployed · 56.3% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 2 filed program accomplishments · $19K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 6 of 6 current checks pass
  • Schedules: 1 filed schedules
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Financial Efficiency: Program expense ratio scored 56/100.
  • High — Sustainability: Operating margin scored 25/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.