National Korean American Service And Education Consortium Inc
NAKASEC shows significant revenue and asset growth with no reported officer compensation.
EIN: 113303986 · Chicago, IL · NTEE: R30 · Updated: 2026-03-28
Is National Korean American Service And Education Consortium Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
National Korean American Service And Education Consortium Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About National Korean American Service And Education Consortium Inc
National Korean American Service And Education Consortium Inc (EIN: 113303986) is a nonprofit organization based in Chicago, IL, classified under NTEE code R30. The organization reported total revenue of $8.1M and total assets of $9.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of National Korean American Service And Education Consortium Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates National Korean American Service And Education Consortium Inc with a Mission Score of 85 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, National Korean American Service And Education Consortium 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 available filings, which is highly unusual for an organization of its size with latest revenue of $8,089,568. This suggests either a fully volunteer-led executive team or that executive compensation is reported under other expense categories, which could obscure a complete picture of leadership costs.
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 National Korean American Service And Education Consortium Inc's IRS 990 filings:
- Consistent 0% reported officer compensation for an organization of this size, which may obscure actual leadership costs.
- Lack of detailed breakdown on program spending within the summary data, making it difficult to assess specific impact areas.
Strengths
The following positive indicators were identified for National Korean American Service And Education Consortium Inc:
- Significant and consistent revenue growth, from $2,432,676 in 2019 to $7,259,795 in 2023, indicating strong fundraising capabilities.
- Healthy asset growth, from $1,787,972 in 2019 to $6,820,254 in 2023, demonstrating financial stability.
- Expenses consistently lower than revenue, contributing to a strong financial reserve.
- Low liabilities relative to assets, indicating a stable financial position and limited debt.
- Strong program spending ratio, suggesting a high percentage of funds are directed towards its mission.
Frequently Asked Questions about National Korean American Service And Education Consortium Inc
Is National Korean American Service And Education Consortium Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, National Korean American Service And Education Consortium Inc (EIN: 113303986) some concerns. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.
How does National Korean American Service And Education Consortium Inc spend its money?
National Korean American Service And Education Consortium Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to National Korean American Service And Education Consortium Inc tax-deductible?
National Korean American Service And Education Consortium Inc is registered as a tax-exempt nonprofit (EIN: 113303986). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does NAKASEC manage to operate with 0% reported officer compensation, given its substantial revenue and asset base?
The consistent reporting of 0% officer compensation is highly unusual for an organization of NAKASEC's size. This could indicate that executive leadership is entirely volunteer-based, or that compensation for key management personnel is categorized differently within the IRS 990, such as under 'salaries and wages' for non-officer staff, which would require deeper scrutiny of their detailed financial statements to understand fully.
What is the specific breakdown of NAKASEC's program service accomplishments and their impact?
While the financial data shows strong program spending, the IRS 990 summary does not detail the specific programs or their impact. Further information would need to be obtained from their annual reports or website to understand the scope and effectiveness of their services in the Korean American community.
What is the reason for the significant increase in revenue and assets between 2022 and 2023?
NAKASEC experienced a substantial increase in revenue from $3,468,479 in 2022 to $7,259,795 in 2023, and assets grew from $2,814,724 to $6,820,254. This rapid growth could be attributed to successful grant applications, major fundraising campaigns, or an expansion of services, which would be detailed in their full financial statements or annual reports.
Filing History
IRS 990 filing history for National Korean American Service And Education Consortium Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), National Korean American Service And Education Consortium Inc's revenue has grown by 1010.6%, moving from $654K to $7.3M. Total assets increased by 679% over the same period, from $876K to $6.8M. Total functional expenses rose by 522.8%, from $650K to $4.0M. In its most recent filing year (2023), National Korean American Service And Education Consortium Inc reported a surplus of $3.2M, with revenue exceeding expenses. The organization holds $580K in liabilities against $6.8M in assets (debt-to-asset ratio: 8.5%), resulting in net assets of $6.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $7.3M | $4.0M | $6.8M | $580K | — | View 990 |
| 2022 | $3.5M | $3.1M | $2.8M | $231K | — | View 990 |
| 2021 | $3.0M | $2.6M | $2.5M | $324K | — | View 990 |
| 2020 | $2.8M | $2.8M | $2.0M | $282K | — | View 990 |
| 2019 | $2.4M | $2.8M | $1.8M | $59K | — | View 990 |
| 2018 | $3.1M | $2.7M | $1.3M | $219K | — | View 990 |
| 2017 | $2.7M | $2.6M | $872K | $233K | — | View 990 |
| 2016 | $1.0M | $1.1M | $870K | $303K | — | View 990 |
| 2015 | $772K | $728K | $658K | $81K | — | — |
| 2014 | $630K | $590K | $656K | $124K | — | — |
| 2013 | $576K | $560K | $850K | $357K | — | — |
| 2012 | $566K | $627K | $729K | $253K | — | View 990 |
| 2011 | $654K | $650K | $876K | $339K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.3M, expenses of $4.0M, and assets of $6.8M (revenue +109.3% year-over-year).
- 2022: Revenue of $3.5M, expenses of $3.1M, and assets of $2.8M (revenue +13.9% year-over-year).
- 2021: Revenue of $3.0M, expenses of $2.6M, and assets of $2.5M (revenue +8.9% year-over-year).
- 2020: Revenue of $2.8M, expenses of $2.8M, and assets of $2.0M (revenue +14.9% year-over-year).
- 2019: Revenue of $2.4M, expenses of $2.8M, and assets of $1.8M (revenue -22.2% year-over-year).
- 2018: Revenue of $3.1M, expenses of $2.7M, and assets of $1.3M (revenue +17.6% year-over-year).
- 2017: Revenue of $2.7M, expenses of $2.6M, and assets of $872K (revenue +154.6% year-over-year).
- 2016: Revenue of $1.0M, expenses of $1.1M, and assets of $870K (revenue +35.2% year-over-year).
- 2015: Revenue of $772K, expenses of $728K, and assets of $658K (revenue +22.6% year-over-year).
- 2014: Revenue of $630K, expenses of $590K, and assets of $656K (revenue +9.3% year-over-year).
- 2013: Revenue of $576K, expenses of $560K, and assets of $850K (revenue +1.8% year-over-year).
- 2012: Revenue of $566K, expenses of $627K, and assets of $729K (revenue -13.4% year-over-year).
- 2011: Revenue of $654K, expenses of $650K, and assets of $876K.
Data Sources and Methodology
This transparency report for National Korean American Service And Education Consortium 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.