World Korean Federation Chicago Corp Nfp

Nonprofit profile at a glance

EIN: 923110717
IRS 990-EZ coverage: 2023–2024
Forms available: Form 990-EZ 2024, Form 990-N 2023
Location: Glenview, IL, USA
Phone: 8477381696
Rating: 51
Verdict: MIXED
Rating confidence: Moderate
Sector: Fund Raising and Fund Distribution
Affiliation: Religious (unspecified)

Reported finances

Revenue: $48,123
Expenses: $49,374
Assets: $16,611
Liabilities: $0

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

Leadership & pay

3 people listed

Executive titles in this filing

Chong Hee Der (President)

People named in this filing

Chong Hee Der (President)
Myeong Hwa Lee (Secretary)
Benjamin Park (Treasurer)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization's primary exempt purpose is to promote religious education, faith-based outreach, and community support.

Operating model

Revenue model: Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model: Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

Financial Efficiency: 14
Transparency & Controls: 100
Sustainability: 40
Growth: 40

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 13.7%; rating input score 14
Program expense ratio: 13.4%; rating input score 13

Transparency & Controls

Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
Major donor itemization: Yes; rating input score 100

Sustainability

Operating margin: -2.6%; rating input score 40; 40th percentile among comparable filings
Total-asset coverage ratio: 0.34; rating input score 23; 23rd percentile among comparable filings
Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

Program expense growth: 200% per year; rating input score 100; 100th percentile among comparable filings
Revenue growth: -59.9% per year; rating input score 0; 5th percentile among comparable filings
Asset growth: -7.3% per year; rating input score 0; 20th percentile among comparable filings

Details

Where the money goes: 13.7% of revenue deployed · 13.4% of spending went to programs
Governance: Filed governance answers
Accomplishments: 1 filed program accomplishment · $7K in reported program spending
Leadership: top reported pay $0 · 3 people listed
Consistency: 8 of 9 current checks pass · 1 finding to review
Schedules: 3 filed schedules
Filing history: 2 filing years from 2023 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.

High — Financial Efficiency: Mission deployment rate scored 14/100.
High — Financial Efficiency: Program expense ratio scored 13/100.
Moderate — Transparency & Controls: Part III transfer expenses within program total did not reconcile in the filed values.
High — Growth: Revenue growth scored 0/100.
Moderate — Sustainability: Operating margin scored 40/100.
High — Sustainability: Total-asset coverage ratio scored 23/100.
High — Growth: Asset growth scored 0/100.
Review — Sustainability: Officer compensation ratio scored 56/100.