Nan Chul Shin Foundation
Nan Chul Shin Foundation faces severe financial decline with consistent large net losses and rapidly depleting assets.
EIN: 203306898 · Honolulu, HI · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1K |
| Total Expenses | $23K |
| Net Assets | $33K |
| Transparency Score | 10/100 |
Is Nan Chul Shin Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Nan Chul Shin Foundation
Nan Chul Shin Foundation (EIN: 203306898) is a nonprofit organization based in Honolulu, HI, classified under NTEE code T22. The organization reported total revenue of $1K and total assets of $34K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Nan Chul Shin Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Nan Chul Shin Foundation is a micro nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -32.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2K |
| Total Expenses | $23K |
| Surplus / Deficit | $-21,580 |
| Total Assets | $36K |
| Total Liabilities | $3K |
| Net Assets | $33K |
| Operating Margin | -1261.3% |
| Debt-to-Asset Ratio | 8.0% |
| Months of Reserves | 18.4 months |
Financial Health Grade: B
In 2023, Nan Chul Shin Foundation reported a deficit of $22K with expenses exceeding revenue, holds 18.4 months of operating reserves (strong position), has a debt-to-asset ratio of 8.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Nan Chul Shin Foundation's revenue has declined at a compound annual growth rate (CAGR) of -32.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +33.4% | -84.0% | -37.7% |
| 2022 | +5245.8% | +99.0% | -71.6% |
| 2021 | -98.1% | -94.2% | -26.6% |
| 2020 | -99.9% | +482.7% | -82.1% |
| 2019 | +423.4% | -39.3% | +88.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Nan Chul Shin Foundation with a Mission Score of 10 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Nan Chul Shin Foundation allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $22K, with expenses exceeding revenue.
- Debt-to-asset ratio: 8.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers or key employees are receiving salaries from the organization. This is a positive aspect of financial transparency and efficiency, especially given the organization's severe financial challenges.
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 Nan Chul Shin Foundation's IRS 990 filings:
- Consistent and massive net losses (e.g., $21,580 in 2023, $144,174 in 2022, $1,259,712 in 2020).
- Dramatic decline in assets from $1,725,620 in 2012 to $35,628 in 2023.
- Revenue generation is extremely low in recent years compared to historical periods and current expenses.
- Lack of detailed expense breakdown makes it impossible to assess program efficiency.
Strengths
The following positive indicators were identified for Nan Chul Shin Foundation:
- No officer compensation reported across all filings, indicating no executive salaries.
Frequently Asked Questions about Nan Chul Shin Foundation
Is Nan Chul Shin Foundation a legitimate charity?
Nan Chul Shin Foundation (EIN: 203306898) is a registered tax-exempt nonprofit based in Hawaii. Our AI analysis gives it a Mission Score of 10/100. It has 10 years of IRS 990 filings on record. Total revenue: $1K. 4 red flags identified. 1 strength noted. Financial health grade: B.
How does Nan Chul Shin Foundation spend its money?
Nan Chul Shin Foundation reported $1K in total revenue in IRS 990 filings. 10 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Nan Chul Shin Foundation tax-deductible?
Nan Chul Shin Foundation is registered as a tax-exempt nonprofit (EIN: 203306898). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Nan Chul Shin Foundation compare to similar nonprofits?
With a transparency score of 10/100 (Very Poor), Nan Chul Shin Foundation is below average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Nan Chul Shin Foundation located?
Nan Chul Shin Foundation is headquartered in Honolulu, Hawaii and files with the IRS under EIN 203306898. It is classified under NTEE code T22.
How many years of IRS 990 filings does Nan Chul Shin Foundation have?
Nan Chul Shin Foundation has 10 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 $1K in total revenue.
How does the Nan Chul Shin Foundation sustain operations with such large and consistent net losses?
The consistent and significant net losses, such as $21,580 in 2023 and $144,174 in 2022, suggest that the organization is either drawing heavily from its asset base, which has declined from over $1.7 million in 2012 to $35,628 in 2023, or relying on other undisclosed funding mechanisms to cover expenses.
What are the primary drivers of the high expenses relative to revenue?
Without a detailed breakdown of expenses (e.g., program, administrative, fundraising) in the provided data, it is impossible to pinpoint the exact drivers. However, the magnitude of expenses, such as $1,260,949 in 2020 against only $1,237 in revenue, indicates substantial outflows that are not being covered by income.
What is the long-term viability of the Nan Chul Shin Foundation given its financial trajectory?
The long-term viability appears highly questionable. With assets dwindling from over $1.7 million to $35,628 in a decade and consistent large net losses, the foundation is on an unsustainable path unless there is a significant and immediate change in its revenue generation or expense management.
Filing History
IRS 990 filing history for Nan Chul Shin Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Nan Chul Shin Foundation's revenue has declined by 99.1%, moving from $201K to $2K. Total assets decreased by 97.1% over the same period, from $1.2M to $36K. Total functional expenses fell by 92.7%, from $319K to $23K. In its most recent filing year (2023), Nan Chul Shin Foundation reported a deficit of $22K, with expenses exceeding revenue. The organization holds $3K in liabilities against $36K in assets (debt-to-asset ratio: 8.0%), resulting in net assets of $33K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2K | $23K | $36K | $3K | — | — |
| 2022 | $1K | $145K | $57K | $3K | — | View 990 |
| 2021 | $24 | $73K | $201K | $3K | — | View 990 |
| 2020 | $1K | $1.3M | $274K | $3K | — | — |
| 2019 | $948K | $216K | $1.5M | $3K | — | View 990 |
| 2015 | $181K | $357K | $813K | $240 | — | View 990 |
| 2014 | $38K | $213K | $988K | $240 | — | View 990 |
| 2013 | $793K | $1.4M | $1.2M | $6K | — | View 990 |
| 2012 | $925K | $442K | $1.7M | $240 | — | View 990 |
| 2011 | $201K | $319K | $1.2M | $1K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2K, expenses of $23K, and assets of $36K (revenue +33.4% year-over-year).
- 2022: Revenue of $1K, expenses of $145K, and assets of $57K (revenue +5245.8% year-over-year).
- 2021: Revenue of $24, expenses of $73K, and assets of $201K (revenue -98.1% year-over-year).
- 2020: Revenue of $1K, expenses of $1.3M, and assets of $274K (revenue -99.9% year-over-year).
- 2019: Revenue of $948K, expenses of $216K, and assets of $1.5M (revenue +423.4% year-over-year).
- 2015: Revenue of $181K, expenses of $357K, and assets of $813K (revenue +376.5% year-over-year).
- 2014: Revenue of $38K, expenses of $213K, and assets of $988K (revenue -95.2% year-over-year).
- 2013: Revenue of $793K, expenses of $1.4M, and assets of $1.2M (revenue -14.2% year-over-year).
- 2012: Revenue of $925K, expenses of $442K, and assets of $1.7M (revenue +361.2% year-over-year).
- 2011: Revenue of $201K, expenses of $319K, and assets of $1.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Nan Chul Shin Foundation:
Data Sources and Methodology
This transparency report for Nan Chul Shin 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.