Korean-American Youth Foundation Inc
- Assets
- $191.2k
- Revenue
- $112.0k
- Investments
- $0.0
- Employees
- 3
- Location
- Flushing, NY
- Founding
- 08/2001
- Data as of
- 12/2021
- EIN
- 11-3186054
Organization Overview
Korean-American Youth Foundation Inc is located in Flushing, NY. The organization was established in 2001. According to its NTEE Classification (O54) the organization is classified as: Youth Development - Citizenship, under the broad grouping of Youth Development and related organizations. As of 12/2021, Korean-American Youth Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean-American Youth Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Korean-American Youth Foundation Inc generated $112.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (11.4%) each year. All expenses for the organization totaled $89.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (13.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTING AND EMPOWERING UNDERSERVED YOUTHS OF IMMIGRANT FAMILIES. TO PROMOTE THE WELFARE OF THE YOUTH GROUP IN KOREAN-AMERICAN COMMUNITY LOCATED IN THE METROPOLITAN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTING AND EMPOWERING UNDERSERVED YOUTHS OF IMMIGRANT FAMILIES. TO PROMOTE THE WELFARE OF THE YOUTH GROUP IN KOREAN-AMERICAN COMMUNITY LOCATED IN THE METROPOLITAN AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kwangsoo Kim Chairman | Officer | $0 | |
Hee Suk Kim President | Trustee | $0 | |
Robert Johghoon Vice Chairma | Trustee | $0 | |
Phillip Hong Director | Trustee | $0 | |
Sejin Lim Director | Trustee | $0 | |
Chris Lee Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $52,164 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $52,164 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $59,707 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $111,974 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,833 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,026 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,669 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $367 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,352 |
| All other expenses | $0 |
| Total functional expenses | $89,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $191,169 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $191,169 |
| Accounts payable and accrued expenses | $1,793 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $32,689 |
| Total liabilities | $34,482 |
| Net assets without donor restrictions | $156,687 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $191,169 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Korean-American Youth Foundation Inc has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Generation Citizen Inc New York, NY | $3,046,738 | $4,064,100 |
Wya Foundation Inc New York, NY | $40,333 | $752,868 |
Think Equal Usa Inc New York, NY | $805,811 | $673,880 |
Ypo Inc Glastonbury, CT | $662,155 | $373,925 |
Social Impact Center Haverford, PA | $48,509 | $271,662 |
All About Character Inc Meadville, PA | $4,121 | $121,949 |
Sow Good Now Newtown Square, PA | $152,956 | $148,851 |
Freedoms Foundation At Valley Forge Valley Forge, PA | $1,988,243 | $401,452 |
Korean-American Youth Foundation Inc Flushing, NY | $191,169 | $111,974 |
Association For Learning And Mentoring Services Inc Spring Valley, NY | $9,549 | $0 |
The Academy For Human Rights Inc Hamburg, NY | $48,060 | $0 |
Pals For The Future A Nj Nonprofit Corporation Moorestown, NJ | $247,761 | $0 |