Korean-American Senior Mutual Association Inc
- Assets
- $1.8m
- Revenue
- $4.2m
- Investments
- $0.0
- Employees
- 5
- Location
- Flushing, NY
- Founding
- 07/1998
- Data as of
- 04/2020
- EIN
- 11-3323060
Organization Overview
Korean-American Senior Mutual Association Inc is located in Flushing, NY. The organization was established in 1998. According to its NTEE Classification (P81) the organization is classified as: Senior Centers, under the broad grouping of Human Services and related organizations. As of 04/2020, Korean-American Senior Mutual Association Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean-American Senior Mutual Association 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 04/2020, Korean-American Senior Mutual Association Inc generated $4.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $4.2m during the year ending 04/2020. While expenses have increased by 5.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BURIAL BENIFITS AND ASSISTANCE AND COMMUNITY SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BURIAL BENEFITS PROGRAM PAID PART OF FUNERAL EXPENSES FOR THE DECEASED. 253 FAMILIES RECEIVED BENEFITS.
SOCIAL AND LEGAL SERVICE PROGRAM. SCHLORSHIP PAYMENTS $7,000 TO 7 HIGH SCHOOL STUDENTS. SUPPOT PAYMENT OF MONTHLY CONDOLATORY MONEY AMOUNT OF $59,645 BY KASMA FUND TO THE HIGHEST AGE OF 107 PERSONS DURING ONE YEAR. RICE SHARING OF PRIME COST WORTH $20,400 OF 1,700 PACKS TO 800 SENIORS, NEEDY PERSONS AND 30 CHARITABLE ORGANIZATIONS. FREE LEGAL CONSULTING SERVICES OF 58 PERSONS.
BURIAL BENEFITS PROGRAM PAID PART OF FUNERAL EXPENSES FOR THE DECEASED. 253 FAMILIES RECEIVED BENEFITS.
SOCIAL AND LEGAL SERVICE PROGRAM. SCHLORSHIP PAYMENTS $7,000 TO 7 HIGH SCHOOL STUDENTS. SUPPOT PAYMENT OF MONTHLY CONDOLATORY MONEY AMOUNT OF $59,645 BY KASMA FUND TO THE HIGHEST AGE OF 107 PERSONS DURING ONE YEAR. RICE SHARING OF PRIME COST WORTH $20,400 OF 1,700 PACKS TO 800 SENIORS, NEEDY PERSONS AND 30 CHARITABLE ORGANIZATIONS. FREE LEGAL CONSULTING SERVICES OF 58 PERSONS.
BURIAL BENEFITS PROGRAM PAID PART OF FUNERAL EXPENSES FOR THE DECEASED. 253 FAMILIES RECEIVED BENEFITS.
SOCIAL AND LEGAL SERVICE PROGRAM. SCHLORSHIP PAYMENTS $7,000 TO 7 HIGH SCHOOL STUDENTS. SUPPOT PAYMENT OF MONTHLY CONDOLATORY MONEY AMOUNT OF $59,645 BY KASMA FUND TO THE HIGHEST AGE OF 107 PERSONS DURING ONE YEAR. RICE SHARING OF PRIME COST WORTH $20,400 OF 1,700 PACKS TO 800 SENIORS, NEEDY PERSONS AND 30 CHARITABLE ORGANIZATIONS. FREE LEGAL CONSULTING SERVICES OF 58 PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yun P Na Chairman | Trustee | 5 | $0 |
Sung Sul Park Vice Chairman | Trustee | 5 | $0 |
Kwang S Bae President | Trustee | 40 | $0 |
Kun Kyoo Jin Vice Chairman | Trustee | 5 | $0 |
Jae Hun Hwang Vice Chairman | Trustee | 5 | $0 |
Sung W Kim Vice President | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,221,680 |
| Investment income | $4,394 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,226,074 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $155,270 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,225 |
| Payroll taxes | $12,178 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,000 |
| Fees for services: Accounting | $1,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $39,028 |
| Office expenses | $78,789 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,403 |
| Travel | $5,190 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,205 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,255 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,192,138 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,354 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,001,280 |
| 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 | $450 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,826,883 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $10,318 |
| 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 | $0 |
| Total liabilities | $10,318 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,816,565 |
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|---|---|---|
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