The Korean American Family Service Center Inc

Korean American Family Service Center consistently generates surpluses and grows assets with no reported officer compensation.

EIN: 133609811 · Flushing, NY · NTEE: P43Z · Updated: 2026-03-28

$4.8MRevenue

$9.0MAssets

90/100Mission Score (Excellent)

P43Z

About The Korean American Family Service Center Inc

The Korean American Family Service Center Inc (EIN: 133609811) is a nonprofit organization based in Flushing, NY, classified under NTEE code P43Z. The organization reported total revenue of $4.8M and total assets of $9.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Korean American Family Service Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Korean American Family Service Center Inc demonstrates strong financial health and efficient spending based on its recent IRS 990 filings. Over the past three years (2021-2023), the organization has consistently reported revenues significantly exceeding expenses, leading to substantial growth in assets. For instance, in 2023, revenue was $4,424,882 against expenses of $3,144,821, contributing to an asset base of $7,962,981. This trend indicates sound financial management and an ability to build reserves for future operations.

The organization's spending efficiency appears robust, with a healthy surplus in most recent years. The consistent reporting of 0% officer compensation across all available filings is a notable indicator of transparency and a commitment to directing funds towards its mission rather than executive salaries. This practice enhances public trust and suggests a lean operational structure. The growth in assets from $4,098,424 in 2020 to $7,962,981 in 2023 further underscores its financial stability and capacity to expand its services.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates The Korean American Family Service Center 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, The Korean American Family Service Center 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 13 available filings, indicating that no salaries are paid to its officers. This is highly unusual for an organization of its size, with recent revenues exceeding $4 million, and suggests either a volunteer leadership model or that compensation is reported under different categories.

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 The Korean American Family Service Center Inc's IRS 990 filings:

Unusually low liabilities relative to assets in some periods (e.g., $68,325 liabilities vs. $3,227,161 assets in 2019), which could indicate minimal debt but also potentially less leverage for growth if needed.
The consistent 0% officer compensation, while positive for efficiency, is highly unusual for an organization with multi-million dollar revenues and could warrant further inquiry into how leadership is compensated or structured.

Strengths

The following positive indicators were identified for The Korean American Family Service Center Inc:

Consistent revenue surpluses: In 2023, revenue ($4,424,882) significantly exceeded expenses ($3,144,821), demonstrating strong financial management.
Significant asset growth: Assets have nearly doubled from $4,098,424 in 2020 to $7,962,981 in 2023, indicating robust financial health and capacity.
Zero reported officer compensation: All 13 filings show 0% officer compensation, suggesting high efficiency and dedication of funds to programs.
Strong financial stability: The organization has consistently maintained a healthy balance sheet with growing assets and manageable liabilities.
Positive trend in financial performance: Revenue and asset growth have been consistent over the past decade, indicating sustainable operations.

Frequently Asked Questions about The Korean American Family Service Center Inc

Is The Korean American Family Service Center Inc a good charity?

Based on its strong financial health, consistent revenue surpluses, significant asset growth, and zero reported officer compensation, the organization appears to be a very good charity, demonstrating efficient use of funds and a strong commitment to its mission.

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

The organization has shown remarkable financial growth and stability. Revenue has increased from $1,903,863 in 2016 to $4,424,882 in 2023, and assets have grown from $2,278,673 to $7,962,981 in the same period, indicating excellent financial management and expansion.

What is the significance of 0% officer compensation?

The consistent reporting of 0% officer compensation is a significant indicator of the organization's dedication to directing funds towards its programs. It suggests either a volunteer-led executive team or that executive salaries are categorized differently, which enhances its perceived efficiency and transparency.

Filing History

IRS 990 filing history for The Korean American Family Service Center Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), The Korean American Family Service Center Inc's revenue has grown by 314.7%, moving from $1.1M to $4.4M. Total assets increased by 1289.5% over the same period, from $573K to $8.0M. Total functional expenses rose by 246.2%, from $908K to $3.1M. In its most recent filing year (2023), The Korean American Family Service Center Inc reported a surplus of $1.3M, with revenue exceeding expenses. The organization holds $844K in liabilities against $8.0M in assets (debt-to-asset ratio: 10.6%), resulting in net assets of $7.1M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$4.4M	$3.1M	$8.0M	$844K	—	View 990
2022	$5.0M	$3.5M	$6.0M	$240K	—	View 990
2021	$3.2M	$2.2M	$5.1M	$720K	—	View 990
2020	$2.4M	$2.3M	$4.1M	$728K	—	View 990
2019	$2.8M	$2.8M	$3.2M	$68K	—	View 990
2018	$2.9M	$2.4M	$3.2M	$95K	—	View 990
2017	$2.7M	$2.3M	$2.7M	$97K	—	View 990
2016	$1.9M	$2.0M	$2.3M	$75K	—	View 990
2015	$2.1M	$1.8M	$2.3M	$106K	—	View 990
2014	$2.3M	$1.3M	$2.0M	$81K	—	View 990
2013	$1.2M	$1.1M	$871K	$43K	—	View 990
2012	$1.2M	$953K	$764K	$11K	—	View 990
2011	$1.1M	$908K	$573K	$24K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $4.4M, expenses of $3.1M, and assets of $8.0M (revenue -11.8% year-over-year).
2022: Revenue of $5.0M, expenses of $3.5M, and assets of $6.0M (revenue +58.4% year-over-year).
2021: Revenue of $3.2M, expenses of $2.2M, and assets of $5.1M (revenue +30.0% year-over-year).
2020: Revenue of $2.4M, expenses of $2.3M, and assets of $4.1M (revenue -13.8% year-over-year).
2019: Revenue of $2.8M, expenses of $2.8M, and assets of $3.2M (revenue -2.6% year-over-year).
2018: Revenue of $2.9M, expenses of $2.4M, and assets of $3.2M (revenue +9.4% year-over-year).
2017: Revenue of $2.7M, expenses of $2.3M, and assets of $2.7M (revenue +39.4% year-over-year).
2016: Revenue of $1.9M, expenses of $2.0M, and assets of $2.3M (revenue -11.2% year-over-year).
2015: Revenue of $2.1M, expenses of $1.8M, and assets of $2.3M (revenue -8.5% year-over-year).
2014: Revenue of $2.3M, expenses of $1.3M, and assets of $2.0M (revenue +99.1% year-over-year).
2013: Revenue of $1.2M, expenses of $1.1M, and assets of $871K (revenue +1.7% year-over-year).
2012: Revenue of $1.2M, expenses of $953K, and assets of $764K (revenue +8.5% year-over-year).
2011: Revenue of $1.1M, expenses of $908K, and assets of $573K.

Data Sources and Methodology

This transparency report for The Korean American Family Service Center 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.