Okta New Jersey Inc

Nonprofit profile at a glance

EIN
854267224
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Fort Lee, NJ, USA
Phone
2019477770
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$191,998
Expenses
$186,054
Assets
$23,516
Liabilities
$2,000

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

Leadership & pay

3 people listed

People named in this filing

  • SUNYUNG HWANG (CHAIRMAN)
  • VIVIAN LEE (VICE PRESIDE)
  • MATTHEW H SON (FORMER CHAIR)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Mission of the organization is to help support the interests and benefits of members in harmony with the growth of the community, coordinate and liaise business inquires and demands from companies in korea in desire of setting up a foothold or exploring market in the us and lead and nurture young business leaders to be able to grow and flourish over the long run.

What it reported doing in 2024

Educate and help young business leaders to learn how to grow and implement new business ideas throughout various events and seminars.

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
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 most voting board members are independent. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.8%; rating input score 65
  • Program expense ratio: 66.8%; rating input score 67
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.1%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 30.7% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 38.5% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 19.8% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 64.8% of revenue deployed · 66.8% of spending went to programs
  • Governance: 3 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $124K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.