Korean Library Foundation

Korean Library Foundation maintains strong assets and zero officer compensation despite recent revenue dip.

EIN: 203213697 · Honolulu, HI · NTEE: B127 · Updated: 2026-03-28

$70KRevenue

$394KAssets

92/100Mission Score (Excellent)

B127

About Korean Library Foundation

Korean Library Foundation (EIN: 203213697) is a nonprofit organization based in Honolulu, HI, classified under NTEE code B127. The organization reported total revenue of $70K and total assets of $394K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Korean Library Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

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.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Korean Library Foundation with a Mission Score of 92 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: 90%
fundraising: 0%

According to IRS 990 filings, Korean Library Foundation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through non-officer channels, which is highly efficient for an organization of its size with latest revenue of $69,555.

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 Library Foundation's IRS 990 filings:

Expenses exceeded revenue in the most recent filing (2024), indicating a deficit for that period ($60,345 expenses vs. $49,311 revenue).

Strengths

The following positive indicators were identified for Korean Library Foundation:

Consistent asset growth over more than a decade, from $164,649 in 2011 to $382,889 in 2024.
0% officer compensation reported across all filings, indicating high efficiency and dedication.
Minimal liabilities ($0-$1) consistently reported, demonstrating strong financial management.
Long history of IRS 990 filings (6 filings), indicating strong transparency.
Generally effective expense management, often keeping expenses below revenue.

Frequently Asked Questions about Korean Library Foundation

Is the Korean Library Foundation financially stable?

Yes, the foundation appears financially stable, with assets consistently growing from $164,649 in 2011 to $382,889 in 2024, and minimal liabilities reported ($0-$1).

How does the organization manage its expenses?

The organization generally manages its expenses well, often keeping them below revenue, as seen in 2023 ($47,238 expenses vs. $64,064 revenue). However, the 2024 filing shows expenses ($60,345) exceeding revenue ($49,311).

What is the trend in the organization's revenue?

Revenue has fluctuated, with a high of $82,197 in 2021 and a recent low of $49,311 in 2024, but the overall trend shows consistent fundraising activity.

Does the Korean Library Foundation pay its officers?

No, the IRS 990 filings consistently report 0% officer compensation across all periods, suggesting a volunteer-led or very lean administrative structure.

What is the organization's asset growth over time?

The organization has shown significant asset growth, more than doubling from $164,649 in 2011 to $382,889 in 2024, indicating effective financial stewardship.

Filing History

IRS 990 filing history for Korean Library Foundation showing financial trends over 6 years of public records:

Over 6 years of IRS 990 filings (2011–2024), Korean Library Foundation's revenue has grown by 47.2%, moving from $33K to $49K. Total assets increased by 132.5% over the same period, from $165K to $383K. Total functional expenses rose by 111%, from $29K to $60K. In its most recent filing year (2024), Korean Library Foundation reported a deficit of $11K, with expenses exceeding revenue. The organization holds $1 in liabilities against $383K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $383K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$49K	$60K	$383K	$1	—	—
2023	$64K	$47K	$394K	$1	—	View 990
2022	$68K	$37K	$377K	$1	—	View 990
2021	$82K	$56K	$346K	$1	—	—
2020	$67K	$49K	$319K	$1	—	View 990
2011	$33K	$29K	$165K	$0	—	—

Year-by-Year Financial Summary

2024: Revenue of $49K, expenses of $60K, and assets of $383K (revenue -23.0% year-over-year).
2023: Revenue of $64K, expenses of $47K, and assets of $394K (revenue -5.5% year-over-year).
2022: Revenue of $68K, expenses of $37K, and assets of $377K (revenue -17.6% year-over-year).
2021: Revenue of $82K, expenses of $56K, and assets of $346K (revenue +23.0% year-over-year).
2020: Revenue of $67K, expenses of $49K, and assets of $319K (revenue +99.5% year-over-year).
2011: Revenue of $33K, expenses of $29K, and assets of $165K.

Data Sources and Methodology

This transparency report for Korean Library Foundation 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.