Quick charity verification for Andrew Jay Hoon Kim Memorial Foundation (EIN: 20603109)
Verdict: Andrew Jay Hoon Kim Memorial Foundation appears trustworthy
75/100Mission Score
$602KRevenue
$2.6MAssets
2Red Flags
3Strengths
Red Flags
Expenses exceeded revenue in 2022 and 2023, indicating operating deficits.
Lack of detailed expense breakdown (program vs. admin/fundraising) in provided data makes full efficiency assessment difficult.
Strengths
Consistent asset growth over the past decade, reaching $2,455,007 in 2023.
Zero officer compensation reported across all filings, indicating low executive overhead.
Consistent filing of IRS Form 990s over 14 periods, demonstrating transparency and compliance.
Spending Breakdown
How Andrew Jay Hoon Kim Memorial Foundation allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Andrew Jay Hoon Kim Memorial Foundation
Is Andrew Jay Hoon Kim Memorial Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Andrew Jay Hoon Kim Memorial Foundation (EIN: 20603109) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
Is Andrew Jay Hoon Kim Memorial Foundation a good charity to donate to?
Andrew Jay Hoon Kim Memorial Foundation has a Mission Score of 75/100. Revenue: $602K. Assets: $2.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Andrew Jay Hoon Kim Memorial Foundation?
The Employer Identification Number (EIN) for Andrew Jay Hoon Kim Memorial Foundation is 20603109. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Andrew Jay Hoon Kim Memorial Foundation spend its money?
Andrew Jay Hoon Kim Memorial Foundation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Andrew Jay Hoon Kim Memorial Foundation's tax-exempt status?
You can verify Andrew Jay Hoon Kim Memorial Foundation's tax-exempt status using EIN 20603109 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Andrew Jay Hoon Kim Memorial Foundation demonstrates a generally stable financial position with growing assets over the past several years, reaching $2,455,007 in 2023. However, its spending efficiency shows some variability. In 2023, the organization spent more than it brought in, with expenses of $266,749 against revenues of $197,830, indicating a deficit for that year. This trend of expenses exceeding revenue was also observed in 2022. Conversely, in earlier years like 2021 and 2020, revenues significantly outpaced expenses, allowing for asset growth.
The foundation's transparency appears strong regarding executive compensation, as officer compensation has consistently been reported as 0% across all available filings. This suggests that the organization's leadership is either volunteer-based or compensated through other means not categorized as officer compensation, which is a positive indicator for donor trust. The consistent filing of IRS Form 990s over 14 periods also points to a commitment to regulatory compliance and public disclosure.
While the asset growth is positive, the recent trend of operating at a deficit in 2022 and 2023 warrants attention. A detailed breakdown of program versus administrative and fundraising expenses is needed to fully assess spending efficiency, as the provided data only gives total expenses. However, the lack of officer compensation and consistent filing history are strong points for transparency.