Moogoong Terrace Inc

Nonprofit profile at a glance

EIN
363085027
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Chicago, IL, USA
Phone
7735835501
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$1,138,812
Expenses
$950,217
Assets
$2,020,358
Liabilities
$2,555,722

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • ARNOLD CHOI (PRESIDENT)
  • DANAE KOVAC (EXECUTIVE DIRECTOR)

People named in this filing

  • ARNOLD CHOI (PRESIDENT)
  • KENT CHAEGU LEE (SECRETARY/TREASURER)
  • DR JOSEPH KIM (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Operate and manage a 75 unit apartment building that provides hud-subsidized housing to elderly and handicapped individuals.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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 - Most voting board members are independent and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of available resources goes toward mission work.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 60
  • Accountability: 100
  • Sustainability: 60
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59%; rating input score 59
  • Program expense ratio: 70.8%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: Pass

Sustainability

  • Operating margin: 16.6%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 2.13; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 1.26; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: -6.9% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: 1.2% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: -0% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 59% of revenue deployed · 70.8% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $673K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.