Korean American Community Foundation Inc
Korean American Community Foundation shows strong asset growth and zero officer compensation despite a 2023 deficit.
EIN: 161643114 · New York, NY · NTEE: T31 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $9.5M |
| Total Expenses | $3.4M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $5 |
| Net Assets | $3.6M |
| Transparency Score | 90/100 |
Is Korean American Community Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Korean American Community Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Korean American Community Foundation Inc
Korean American Community Foundation Inc (EIN: 161643114) is a nonprofit organization based in New York, NY, classified under NTEE code T31. The organization reported total revenue of $9.5M and total assets of $10.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Korean American Community Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Korean American Community Foundation Inc is a mid-size nonprofit that has been operating for 23 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $3.4M |
| Surplus / Deficit | $-654,881 |
| Total Assets | $5.8M |
| Total Liabilities | $2.2M |
| Net Assets | $3.6M |
| Operating Margin | -24.0% |
| Debt-to-Asset Ratio | 37.6% |
| Months of Reserves | 20.7 months |
Financial Health Grade: B
In 2023, Korean American Community Foundation Inc reported a deficit of $655K with expenses exceeding revenue, holds 20.7 months of operating reserves (strong position), has a debt-to-asset ratio of 37.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Korean American Community Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -29.9% | +8.8% | +0.5% |
| 2022 | +10.0% | +22.9% | +19.6% |
| 2021 | +58.9% | +47.4% | +69.6% |
| 2020 | +20.4% | -8.5% | +25.7% |
| 2019 | -9.4% | +24.4% | +12.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Korean American Community Foundation Inc with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Korean American Community Foundation Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $655K, with expenses exceeding revenue.
- Debt-to-asset ratio: 37.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This is a highly positive indicator of the organization's commitment to directing resources to its programs and mission, especially for an organization with assets exceeding $5 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Korean American Community Foundation Inc's IRS 990 filings:
- Expenses exceeded revenue in 2023 ($3,378,452 expenses vs. $2,723,571 revenue), resulting in a deficit for that period.
Strengths
The following positive indicators were identified for Korean American Community Foundation Inc:
- Consistent growth in assets, from $1,215,225 in 2014 to $5,839,524 in 2023.
- Zero officer compensation reported across all 13 filings, indicating high efficiency and dedication to mission.
- Generally strong revenue generation, with most years showing revenue exceeding expenses.
- Low liabilities relative to assets, suggesting financial stability.
Frequently Asked Questions about Korean American Community Foundation Inc
Is Korean American Community Foundation Inc a legitimate charity?
Korean American Community Foundation Inc (EIN: 161643114) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $9.5M. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Korean American Community Foundation Inc spend its money?
Korean American Community Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Korean American Community Foundation Inc tax-deductible?
Korean American Community Foundation Inc is registered as a tax-exempt nonprofit (EIN: 161643114). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Korean American Community Foundation Inc CEO make?
Korean American Community Foundation Inc's highest-compensated officer earns $5 annually. The organization reported $9.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Korean American Community Foundation Inc's spending goes to programs?
Korean American Community Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Korean American Community Foundation Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Korean American Community Foundation Inc is above average for NTEE category T31 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Korean American Community Foundation Inc located?
Korean American Community Foundation Inc is headquartered in New York, New York and files with the IRS under EIN 161643114. It is classified under NTEE code T31.
How many years of IRS 990 filings does Korean American Community Foundation Inc have?
Korean American Community Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $9.5M in total revenue.
Is Korean American Community Foundation Inc a good charity?
Based on the available data, KACF appears to be a good charity. It demonstrates strong financial growth, low liabilities, and a remarkable commitment to its mission by reporting 0% officer compensation across all filings. While there was a deficit in 2023, the overall trend is positive.
How has KACF's financial health changed over the last decade?
KACF has shown significant financial growth over the last decade. Its assets increased from $1,215,225 in 2014 to $5,839,524 in 2023, and revenue has generally trended upwards, indicating a strong and expanding financial base.
What is the organization's approach to executive compensation?
The organization reports 0% officer compensation in all available IRS 990 filings, meaning no officers received salaries or other compensation directly from the organization. This is an exceptional level of commitment to directing funds towards its mission.
Filing History
IRS 990 filing history for Korean American Community Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Korean American Community Foundation Inc's revenue has grown by 135.4%, moving from $1.2M to $2.7M. Total assets increased by 334.6% over the same period, from $1.3M to $5.8M. Total functional expenses rose by 244.1%, from $982K to $3.4M. In its most recent filing year (2023), Korean American Community Foundation Inc reported a deficit of $655K, with expenses exceeding revenue. The organization holds $2.2M in liabilities against $5.8M in assets (debt-to-asset ratio: 37.6%), resulting in net assets of $3.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $3.4M | $5.8M | $2.2M | — | — |
| 2022 | $3.9M | $3.1M | $5.8M | $1.5M | — | View 990 |
| 2021 | $3.5M | $2.5M | $4.9M | $1.3M | — | View 990 |
| 2020 | $2.2M | $1.7M | $2.9M | $347K | — | View 990 |
| 2019 | $1.8M | $1.9M | $2.3M | $271K | — | View 990 |
| 2018 | $2.0M | $1.5M | $2.0M | $250K | — | View 990 |
| 2017 | $1.7M | $1.4M | $1.5M | $242K | — | — |
| 2016 | $1.4M | $1.6M | $1.2M | $249K | — | View 990 |
| 2015 | $1.7M | $1.6M | $1.4M | $256K | — | View 990 |
| 2014 | $1.5M | $1.5M | $1.2M | $369K | — | View 990 |
| 2013 | $1.2M | $1.2M | $1.2M | $201K | — | View 990 |
| 2012 | $1.2M | $1.4M | $1.3M | $435K | — | View 990 |
| 2011 | $1.2M | $982K | $1.3M | $249K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $3.4M, and assets of $5.8M (revenue -29.9% year-over-year).
- 2022: Revenue of $3.9M, expenses of $3.1M, and assets of $5.8M (revenue +10.0% year-over-year).
- 2021: Revenue of $3.5M, expenses of $2.5M, and assets of $4.9M (revenue +58.9% year-over-year).
- 2020: Revenue of $2.2M, expenses of $1.7M, and assets of $2.9M (revenue +20.4% year-over-year).
- 2019: Revenue of $1.8M, expenses of $1.9M, and assets of $2.3M (revenue -9.4% year-over-year).
- 2018: Revenue of $2.0M, expenses of $1.5M, and assets of $2.0M (revenue +18.6% year-over-year).
- 2017: Revenue of $1.7M, expenses of $1.4M, and assets of $1.5M (revenue +21.7% year-over-year).
- 2016: Revenue of $1.4M, expenses of $1.6M, and assets of $1.2M (revenue -17.7% year-over-year).
- 2015: Revenue of $1.7M, expenses of $1.6M, and assets of $1.4M (revenue +14.8% year-over-year).
- 2014: Revenue of $1.5M, expenses of $1.5M, and assets of $1.2M (revenue +20.2% year-over-year).
- 2013: Revenue of $1.2M, expenses of $1.2M, and assets of $1.2M (revenue +0.6% year-over-year).
- 2012: Revenue of $1.2M, expenses of $1.4M, and assets of $1.3M (revenue +6.8% year-over-year).
- 2011: Revenue of $1.2M, expenses of $982K, and assets of $1.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Korean American Community Foundation Inc:
Data Sources and Methodology
This transparency report for Korean American Community Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.