Korean American Association Of Greater New York Inc
- Assets
- $1.0m
- Revenue
- $873.6k
- Investments
- $0.0
- Employees
- 6
- Location
- New York, NY
- Founding
- 03/1983
- Data as of
- 04/2022
- EIN
- 23-7329822
Organization Overview
Korean American Association Of Greater New York Inc is located in New York, NY. The organization was established in 1983. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. As of 04/2022, Korean American Association Of Greater New York Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean American Association Of Greater New York 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 04/2022, Korean American Association Of Greater New York Inc generated $873.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $950.9k during the year ending 04/2022. While expenses have increased by 11.0% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
HELPING SOUTH KOREAN IMMIGRANTS TO SETTLE DOWN IN THE GREATER NEW YORK AREA AS KOREAN-AMERICAN CITIZENS AND PROMOTE ACTIVITIES FOR UNITY AND HEALTHY SOCIAL RELATIONSHIPS.
Describe the Organization's Program Activity:
HELPING SOUTH KOREAN IMMIGRANTS TO SETTLE DOWN IN THE GREATER NEW YORK AREA AS KOREAN-AMERICAN CITIZENS AND PROMOTE ACTIVITIES FOR UNITY AND HEALTHY SOCIAL RELATIONSHIPS. KOREAN INDEPENDENCE DAY PARADE OTHER PARADES COVID-19 RELIEF FUND COVID-19 SHARING LOVE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Cho Vice Preside | Officer | $0 | |
Mina Kim Vice Preside | Officer | $0 | |
Kay Kim Executive Vi | Officer | $0 | |
Jimmy Lee Vice Preside | Officer | $0 | |
Charles Yoon President | Officer | 15 | $0 |
Kapson Um Vice Preside | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $698,713 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $698,713 |
| Total Program Service Revenue | $91,466 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $49,991 |
| 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 | $873,620 |
| 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 | $58,026 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,896 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,352 |
| Fees for services: Accounting | $12,967 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,187 |
| Office expenses | $19,277 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $999 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,576 |
| Interest | $1,989 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,485 |
| Insurance | $6,544 |
| All other expenses | $271,194 |
| Total functional expenses | $950,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $403,194 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $41,572 |
| 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 | $5,122 |
| Net Land, buildings, and equipment | $586,863 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,410 |
| Other assets | $3,000 |
| Total assets | $1,049,161 |
| Accounts payable and accrued expenses | $4,401 |
| 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 | $236,043 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $85,734 |
| Total liabilities | $326,178 |
| Net assets without donor restrictions | $722,983 |
| 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 | $1,049,161 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Korean American Association Of Greater New York Inc has recieved totaling $188,333.
| Awarding Organization | Amount |
|---|---|
Nae Il Foundation Ltd PURPOSE: SPONSORSHIP OF KAAGNY GALA ($100K) AND STOP ASIAN HATE CAMPAIGN ($10K) | | $110,000 |
Fairfield Countys Community Foundation Inc Norwalk, CT PURPOSE: FOR GENERAL SUPPORT. | $50,000 |
Y T Hwang Family Foundation Inc Cresskill, NJ PURPOSE: CHARITABLE | $20,000 |
Rlb Private Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $8,333 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Croatian Fraternal Union Of America Pittsburgh, PA | $510,702,838 | $49,525,633 |
Chinese American Planning Council Inc New York, NY | $44,040,107 | $50,081,014 |
Asociacion Puertorriquenos En Marcha Inc Philadelphia, PA | $27,252,719 | $29,564,021 |
Brooklyn Chinese-American Association Inc Brooklyn, NY | $16,442,074 | $13,631,534 |
Nationalities Service Center Of Philadelphia Philadelphia, PA | $6,008,905 | $13,342,474 |
Junta De Accion Puertorriquena Inc Puerto Rican Action Board Inc New Brunswick, NJ | $2,505,820 | $11,202,004 |
Lch Health And Community Services Kennett Square, PA | $6,724,367 | $8,909,074 |
Mid-Island Y Jewish Community Center Inc Plainview, NY | $9,808,281 | $10,961,733 |
Puerto Rican Org For Community Educational & Economic Development Elizabeth, NJ | $11,237,037 | $9,797,068 |
Rian Immigrant Center Inc Boston, MA | $3,539,791 | $6,977,812 |
Chinese Christian Herald Crusades Inc Flushing, NY | $34,224,401 | $8,882,723 |
Korean Community Services Of Metropolitan New York Inc Bayside, NY | $13,398,422 | $7,508,888 |