New Korea Foundation International
Nonprofit profile at a glance
- EIN
- 883166362
- IRS 990 coverage
- 2023–2024
- Forms available
- Form 990 2024
- Location
- Robbinsdale, MN, USA
- Phone
- 7637323640
- Rating
- 69
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- International Development
- Affiliation
- Christianity
Reported finances
- Revenue
- $202,881
- Expenses
- $200,895
- Assets
- $5,044
- Liabilities
- $3,058
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- Kenneth Bae (CEO, President)
Highest reported compensation
- Kelly Sadler (CAO, Office Administrator): $6,459 total reported compensation
- Kenneth Bae (CEO, President): $3,733 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
We actively provide Christian led compassionate care, education, and resource networking to help restore and rebuild the lives of North Korean refugees today, preparing them to be the hands of change in the future.
What it reported doing in 2024
Our Winter Discipleship Camp is comprised of three interconnected programs: 1) Winter Faith Retreat, 2) Winter English Intensive School, 3) Winter Leader and Discipleship training. Through these three programs we are able to provide fast-tracked English language education, community building, and foster leadership and discipleship skills in the North Korean defectors we serve. For our attendees, these programs offer them vital language skills needed for college level learning, connect hearts and minds together, and in many cases introduce them to Christianity for the first time.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 75
- Transparency & Controls: 74
- Accountability: 77
- Sustainability: 26
- Growth: 0
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 84.3%; rating input score 84
- Program expense ratio: 85.1%; rating input score 85
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: 1 of 8 controls in place; rating input score 12
- Claims monitoring procedures: Pass
- Requires narrative reports: Fail
- Conducts field audits: Fail
- May suspend future funding: Fail
- Requires financial reports: Fail
- Conducts site visits: Fail
- Requires grant agreements: Fail
- May require repayment: Fail
- Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
- 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: 4 of 9 controls in place; rating input score 44
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 1%; rating input score 42; 42nd percentile among comparable filings
- Total-asset coverage ratio: 0.03; rating input score 3; 3rd percentile among comparable filings
- Liabilities to assets ratio: 0.61; rating input score 9; 9th percentile among comparable filings
- Officer compensation ratio: 5.1%; rating input score 33; 33rd percentile among comparable filings
Growth
- Program expense growth: -41.7% per year; rating input score 0; 2nd percentile among comparable filings
- Revenue growth: -60% per year; rating input score 0; 1st percentile among comparable filings
- Asset growth: -194.7% per year; rating input score 0; 0th percentile among comparable filings
Details
- Where the money goes: 84.3% of revenue deployed · 85.1% of spending went to programs
- Governance: 5 of 5 board members independent · 4 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $171K in reported program spending
- Leadership: top reported pay $6K · 5 people listed
- Consistency: 20 of 21 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes major donors and foreign activity
- Filing history: 2 filing years from 2023 to 2024
- 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 — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
- Moderate — Accountability: Governance controls: 4 of 8 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Total-asset coverage ratio scored 3/100.
- Moderate — Sustainability: Operating margin scored 42/100.
- High — Growth: Asset growth scored 0/100.
- Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.
- High — Sustainability: Liabilities to assets ratio scored 9/100.
- Moderate — Sustainability: Officer compensation ratio scored 33/100.