Nonprofit · EIN 81-3970919
NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC
Tax-exempt · PALISADES PK, NJ 07650
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,359,561 | $1,411,792 | -$52,231 | $994,936 | $51,615 | $943,321 |
| December 31, 2023 | 990 | $1,549,125 | $1,473,445 | $75,680 | $998,345 | $2,793 | $995,552 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,359,561
- Membership dues
- $102,138
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $1,072,548
- Other salaries and wages
- $65,789
- Salaries, compensation and benefits (total)
- $72,507
- Professional fundraising fees
- $0
- Legal fees
- $3,100
- Accounting fees
- $32,300
- Occupancy
- $26,751
- Program services (functional)
- $1,378,392
- Management and general (functional)
- $33,400
Balance sheet and other
- Total assets, start of year
- $998,345
- Total assets, end of year
- $994,936
- Total liabilities, end of year
- $51,615
- Net assets, end of year
- $943,321
- Net assets without donor restrictions
- $338,648
- Net assets with donor restrictions
- $604,673
- Gross receipts
- $1,359,561
- Employees
- 6
- Year formed
- 2016
- State of legal domicile
- NJ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SUNG OONG YIM | VP/DIRECTOR Officer | – | $0 |
| MU RIM LEE | DIRECTOR Trustee or director | – | $0 |
| BONG TEAK KIM | DIRECTOR Trustee or director | – | $0 |
| JONG TAK CHOE | DIRECTOR Trustee or director | – | $0 |
| KAP SUN BANG | DIRECTOR Trustee or director | – | $0 |
| THOMAS KANG | DIRECTOR Trustee or director | – | $0 |
| SANG KI KIM | DIRECTOR Trustee or director | – | $0 |
| SHIN WOOK KANG | DIRECTOR Trustee or director | – | $0 |
| HONG KYU YOON | PRESIDENT / Trustee or director, Officer | – | $0 |
| LISA LEE PARK | DIRECTOR Trustee or director | – | $0 |
| JOONG HYUP LEE | DIRECTOR Trustee or director | – | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KEUN H SUH | PRESIDENT/ D Trustee or director, Officer | – | $0 |
| DOO NAM KIM | DIRECTOR Trustee or director | – | $0 |
| SUNG OONG YIM | VP/DIRECTOR Trustee or director, Officer | – | $0 |
| KYUNG H KIM | DIRECTOR Trustee or director | – | $0 |
| BONG TEAK KIM | DIRECTOR Trustee or director | – | $0 |
| KEE HO KIM | DIRECTOR Trustee or director | – | $0 |
| KAP SUN BANG | DIRECTOR Trustee or director | – | $0 |
| THOMAS KANG | DIRECTOR Trustee or director | – | $0 |
| SANG KI KIM | DIRECTOR Trustee or director | – | $0 |
| SHIN WOOK KANG | DIRECTOR Trustee or director | – | $0 |
| HONG KYU YOON | DIRECTOR Trustee or director | – | $0 |
| LISA LEE PARK | DIRECTOR Trustee or director | – | $0 |
| PAUL C CHANG | DIRECTOR Trustee or director | – | $0 |
| JOONG HYUP LEE | DIRECTOR Trustee or director | – | $0 |
Address and contacts
- Address (IRS master file)
- 438 BROAD AVE STE 3, PALISADES PK, NJ 07650-3090
- In care of
- % HONG KYU YOON
- Principal officer (990 for 2024)
- HONG KYU YOON, 140 PARKVIEW DR, TEANECK, NJ 07666
- Signed the 990
- HONG KYU YOON, PRESIDENT / DIRECTOR
- Phone
- (201) 945-2411
- Return prepared by
- KL CPA & ASSOCIATES LLC
Mission
OUR MISSION IS TO HELP ONDIVIDUALS WHO HAVE SUFFERED FINANCIAL DIFFICULTIES. SPECIFICALLY, IN FULFILLMENT OF OUR CHARITABLE PURPOSES, WE PROVIDE FINANCIAL SUPPORT TO THE FAMILY MEMBERS OF AN INDIVIDUAL WHO HAS PASSED AWAY; PROVIDE FUNDING FOR FUNERAL SERVICE FOR INDIVIDUALS WHO WERE IMPOVERISHED AND LIVING WITHOUT FAMILY AT THE TIME OF THEIR DEATH; PROMOTE CHARITABLE ACTIVITIES BETWEEN OUR MEMBERSHIP AND THE COMMUNITY.
Program accomplishments
- ENCOURAGED OUR MEMBERS TO REMAIN ACTIVELY INVOLVED IN THE COMMUNITY, OFTEN FOCUSING ON ACTIVITIES THAT BENEFIT SENIORS; PROVIDED FINANCIAL ASSISTANCE TO MEMBERS'FAMILIES IN ECONOMIC DISTRESS AT THE TIME OF THE MEMBER'S OR FAMILY MEMBER'S DEATH.Expenses $1,378,392 · grants $1,072,548
- ENCOURAGED OUR MEMBERS TO REMAIN ACTIVELY INVOLVED IN THE COMMUNITY, OFTEN FOCUSING ON ACTIVITIES THAT BENEFIT SENIORS; PROVIDED FINANCIAL ASSISTANCE TO MEMBERS'FAMILIES IN ECONOMIC DISTRESS AT THE TIME OF THE MEMBER'S OR FAMILY MEMBER'S DEATH.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 81-3970919
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2017
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Human services (P20)
- Assets (IRS master file)
- $994,936
- Income (IRS master file)
- $1,359,561
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,359,561 | $1,411,792 | $994,936 | XML |
| 990 | December 2023 | $1,549,125 | $1,473,445 | $998,345 | XML |
| 990 | December 2022 | $1,734,246 | $1,606,704 | $1,060,503 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 81-3970919).
Questions about NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC
- What is the EIN of NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC?
- The employer identification number (EIN) of NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC is 81-3970919.
- Is NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2017.
- Are donations to NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 names HONG KYU YOON.
- Who are the officers and directors of NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 lists 11 people; 0 received compensation from the organization.
- How much revenue does NEW JERSEY KOREAN AMERICAN MUTUAL AID ASSOCIATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,359,561, expenses of $1,411,792 and total assets of $994,936 at year end.
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