Korean Community Senior Housing Corp Of Maryland

Organization Overview

Korean Community Senior Housing Corp Of Maryland, operating under the name University Gardens I, is located in Silver Spring, MD. The organization was established in 1987. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, University Gardens I employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Gardens I 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, University Gardens I generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 2.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE ADEQUATE AND AFFORDABLE HOUSING TO MEET THE PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS OF ELDERLY AND HANDICAPPED INDIVIDUALS

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDING ADEQUATE HOUSING FOR THE ELDERLY AND PERSONS WITH MOBILITY, HEARING AND VISUAL IMPAIRMENTS BY OFFERING 64 RENTAL UNITS TO ELIGIBLE INDIVIDUALS.


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Board, Officers & Key Employees

Name (title)Compensation
Phillip S Cho
Treasurer
$0
Elizabeth Sanghee Kim
President
$0
Peter W Rim
Secretary
$0
Roger Pyon
Director
$0
Harold Pyon
Director
$0
Jina Kim
Director
$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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$1,009,010
Investment income $72
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $27,153
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 $1,037,155

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