AI Transparency Report
The National Korean American Service And Education Consortium Inc (NAKASEC) demonstrates strong financial growth and appears to be in a healthy financial position. Over the past five years, the organization has seen its revenue increase significantly, from $2,432,676 in 2019 to $7,259,795 in 2023, and its assets have grown from $1,787,972 to $6,820,254 in the same period. This indicates effective fundraising and asset management. The organization consistently spends less than its revenue, as seen in 2023 where expenses were $4,049,216 against $7,259,795 in revenue, contributing to its growing asset base.
NAKASEC's financial health is further supported by its low liabilities relative to assets. For instance, in 2023, liabilities were $580,422 compared to assets of $6,820,254, suggesting good financial stability and limited reliance on debt. The consistent reporting of 0% officer compensation across all available filings is a notable aspect of its transparency and commitment to directing funds towards its mission rather than executive salaries. This practice, while unusual, suggests a volunteer-driven leadership or compensation structured in a way that isn't reported as officer compensation on the 990, which would warrant further investigation for complete transparency.