Long history of IRS 990 filings (6 filings), indicating strong transparency.
Generally effective expense management, often keeping expenses below revenue.
Spending Breakdown
How Korean Library Foundation allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
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 Korean Library Foundation
Is Korean Library Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Korean Library Foundation (EIN: 203213697) appears trustworthy. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
Is Korean Library Foundation a good charity to donate to?
Korean Library Foundation has a Mission Score of 92/100. Revenue: $70K. Assets: $394K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Korean Library Foundation?
The Employer Identification Number (EIN) for Korean Library Foundation is 203213697. 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 Korean Library Foundation spend its money?
Korean Library Foundation allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Korean Library Foundation's tax-exempt status?
You can verify Korean Library Foundation's tax-exempt status using EIN 203213697 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 Korean Library Foundation demonstrates consistent financial health with growing assets over the past several years, increasing from $164,649 in 2011 to $382,889 in 2024. While revenue has fluctuated, peaking at $82,197 in 2021 and most recently at $49,311 in 2024, the organization has generally managed its expenses effectively, often keeping them below revenue. For instance, in 2023, revenue was $64,064 against expenses of $47,238, indicating a surplus. However, the most recent filing (2024) shows expenses ($60,345) exceeding revenue ($49,311), resulting in a deficit for that period.
The organization exhibits strong spending efficiency, particularly given its stated officer compensation of 0% across all reported periods, suggesting that leadership is either volunteer-based or compensated through other means not reported as officer compensation. This contributes to a higher proportion of funds potentially being directed towards programs. The consistent reporting of minimal liabilities ($0-$1) also indicates sound financial management and a low-risk profile. The foundation's transparency is high, with a clear history of IRS 990 filings available over more than a decade, providing a comprehensive view of its financial operations.
Overall, the Korean Library Foundation appears to be a well-managed organization with a solid asset base and a commitment to its mission, as evidenced by its operational efficiency and transparent financial reporting. The recent deficit in 2024 warrants monitoring, but the long-term trend of asset growth and low overhead is positive.