Korean American Senior Mutual Association Inc

Korean American Senior Mutual Association Inc shows consistent revenue and asset growth but reports no officer compensation.

EIN: 113323060 · Flushing, NY · NTEE: P81Z · Updated: 2026-03-28

$4.2MRevenue

$1.8MAssets

70/100Mission Score (Good)

P81Z

About Korean American Senior Mutual Association Inc

Korean American Senior Mutual Association Inc (EIN: 113323060) is a nonprofit organization based in Flushing, NY, classified under NTEE code P81Z. The organization reported total revenue of $4.2M and total assets of $1.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Korean American Senior Mutual Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Korean American Senior Mutual Association Inc demonstrates consistent financial operations, with revenues closely matching expenses over the past nine years. In the latest filing (202004), the organization reported revenue of $4,226,074 against expenses of $4,192,138, indicating a slight surplus. Assets have shown steady growth, increasing from $1,480,289 in 2012 to $1,826,883 in 2020, while liabilities remain very low, suggesting good financial stability and minimal debt burden. The organization's NTEE code P81Z (Senior Citizens' Support Services) aligns with its mission to serve the Korean American senior community.

However, a significant area for improvement in transparency is the lack of reported officer compensation across all nine filings. While this could indicate a volunteer-led executive team, it's unusual for an organization with over $4 million in annual revenue to report zero compensation for all officers, directors, trustees, and key employees. This absence of data makes it difficult to fully assess the organization's operational efficiency and how resources are allocated at the leadership level. Further details on program spending versus administrative and fundraising costs would also enhance the understanding of its spending efficiency.

Overall, the organization appears financially stable with consistent revenue streams and asset growth. The primary concern from a transparency perspective is the complete absence of reported executive compensation, which could raise questions about governance practices and the true cost of operations. Clarification on this aspect would significantly improve its transparency rating.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Korean American Senior Mutual Association Inc with a Mission Score of 70 out of 100 (Good). 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 Senior Mutual Association 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.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all nine available filings, which is highly unusual for an entity with over $4 million in annual revenue. This lack of reported compensation makes it impossible to assess executive pay relative to organizational size and could indicate a reliance on volunteer leadership or a lack of transparency in reporting.

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 Senior Mutual Association Inc's IRS 990 filings:

Consistent 0% officer compensation reported despite significant revenue
Lack of detailed breakdown for program, administrative, and fundraising expenses in provided data

Strengths

The following positive indicators were identified for Korean American Senior Mutual Association Inc:

Consistent revenue growth over the past nine years
Steady increase in assets, indicating financial stability
Very low liabilities relative to assets and revenue
Expenses closely track revenue, suggesting efficient financial management

Frequently Asked Questions about Korean American Senior Mutual Association Inc

Is Korean American Senior Mutual Association Inc a good charity?

The organization demonstrates financial stability with consistent revenue and asset growth. Its liabilities are very low, indicating good financial health. However, the complete absence of reported officer compensation across all filings is a significant transparency concern that prevents a full assessment of its operational efficiency and governance.

Why is officer compensation reported as 0%?

The IRS 990 filings consistently show 0% for officer, director, trustee, and key employee compensation. This could mean that all leadership positions are filled by unpaid volunteers, or there might be an issue with how compensation is reported. Without further information from the organization, the reason remains unclear and impacts transparency.

How has the organization's financial health changed over time?

The organization has shown steady financial growth. Revenue increased from $2,662,377 in 2012 to $4,226,074 in 2020, and assets grew from $1,480,289 to $1,826,883 over the same period. Expenses have generally tracked revenue, indicating consistent operational activity and a stable financial position.

Filing History

IRS 990 filing history for Korean American Senior Mutual Association Inc showing financial trends over 9 years of public records:

Over 9 years of IRS 990 filings (2012–2020), Korean American Senior Mutual Association Inc's revenue has grown by 58.7%, moving from $2.7M to $4.2M. Total assets increased by 23.4% over the same period, from $1.5M to $1.8M. Total functional expenses rose by 66.1%, from $2.5M to $4.2M. In its most recent filing year (2020), Korean American Senior Mutual Association Inc reported a surplus of $34K, with revenue exceeding expenses. The organization holds $10K in liabilities against $1.8M in assets (debt-to-asset ratio: 0.6%), resulting in net assets of $1.8M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2020	$4.2M	$4.2M	$1.8M	$10K	—	View 990
2019	$3.8M	$3.8M	$1.8M	$18K	—	View 990
2018	$3.7M	$3.7M	$1.8M	$8K	—	—
2017	$2.9M	$2.8M	$1.8M	$11K	—	View 990
2016	$3.1M	$3.1M	$1.7M	$21K	—	View 990
2015	$2.9M	$2.9M	$1.7M	$4K	—	View 990
2014	$2.7M	$2.6M	$1.6M	$17K	—	View 990
2013	$2.1M	$2.1M	$1.5M	$18K	—	View 990
2012	$2.7M	$2.5M	$1.5M	$17K	—	View 990

Year-by-Year Financial Summary

2020: Revenue of $4.2M, expenses of $4.2M, and assets of $1.8M (revenue +12.0% year-over-year).
2019: Revenue of $3.8M, expenses of $3.8M, and assets of $1.8M (revenue +2.3% year-over-year).
2018: Revenue of $3.7M, expenses of $3.7M, and assets of $1.8M (revenue +28.0% year-over-year).
2017: Revenue of $2.9M, expenses of $2.8M, and assets of $1.8M (revenue -8.3% year-over-year).
2016: Revenue of $3.1M, expenses of $3.1M, and assets of $1.7M (revenue +7.9% year-over-year).
2015: Revenue of $2.9M, expenses of $2.9M, and assets of $1.7M (revenue +7.0% year-over-year).
2014: Revenue of $2.7M, expenses of $2.6M, and assets of $1.6M (revenue +27.5% year-over-year).
2013: Revenue of $2.1M, expenses of $2.1M, and assets of $1.5M (revenue -19.8% year-over-year).
2012: Revenue of $2.7M, expenses of $2.5M, and assets of $1.5M.

Data Sources and Methodology

This transparency report for Korean American Senior Mutual Association 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.