The Korean American Family Service Center Inc

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The Korean American Family Service Center Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals

The Korean American Family Service Center Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around The Korean American Family Service Center Inc in one place.

Is The Korean American Family Service Center Inc Legit?

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Request a concise report for The Korean American Family Service Center Inc with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.

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The Korean American Family Service Center Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

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.

Organization Overview

The Korean American Family Service Center Inc is a mid-size nonprofit that has been operating for 34 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 12.6%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, The Korean American Family Service Center Inc reported a surplus of $1.3M with revenue exceeding expenses, holds 30.4 months of operating reserves (strong position), has a debt-to-asset ratio of 10.6% (very low leverage).

Financial Trends

Over 13 years of filings (2011–2023), The Korean American Family Service Center Inc's revenue has grown at a compound annual growth rate (CAGR) of 12.6%.

IRS Tax-Exempt Classification

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 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.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

• The organization reported a surplus of $1.3M, with revenue exceeding expenses.
• Debt-to-asset ratio: 10.6%.

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

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-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.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for The Korean American Family Service Center Inc:

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.