Seoul Nat'l Univ College of Medicine Alumni Assoc Inc

Nonprofit profile at a glance

EIN
237305290
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Haymarket, VA, USA
Phone
5163655500
Rating
53
Verdict
MIXED
Rating confidence
Moderate
Sector
Alumni Associations

Reported finances

Revenue
$286,966
Expenses
$290,671
Assets
$752,918
Liabilities
$0

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

Leadership & pay

3 people listed

Executive titles in this filing

  • MYONG HO NAM (PRESIDENT)

People named in this filing

  • GWY SUK SEO (TREASURER)
  • MYONG HO NAM (PRESIDENT)
  • SUNG HWAN KIM (FINANCE COMMITTEE 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

Medical reseach/development and charity activities

What it reported doing in 2024

Scholarship grant program to needy students and organization

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 52% for direct work, and 48% for grants.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 46
  • Transparency & Controls: 87
  • Accountability: 6
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 53%; rating input score 53
  • Program expense ratio: 48.7%; rating input score 49
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th 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: -1.3%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 2.59; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 2.5% per year; rating input score 100; 42nd percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 2.2% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 53% of revenue deployed · 48.7% of spending went to programs
  • Governance: 0 of 60 board members independent · 1 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $142K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 49/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.