Nonprofit · EIN 83-2513160
KOREAN AMERICAN FOUNDATION
Tax-exempt · LOS ANGELES, CA 90010
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2024 | 990 | $1,049,886 | $451,584 | $598,302 | $4,375,160 | $3,482 | $4,371,678 |
| September 30, 2023 | 990 | $1,172,842 | $550,142 | $622,700 | $2,737,739 | $73,520 | $2,664,219 |
Financial details: 990 for the year ended September 30, 2024
Revenue
- Contributions, gifts and grants
- $916,878
- Program service revenue
- $0
- Investment income
- $132,975
- Other revenue
- $33
Expenses
- Grants and similar amounts paid
- $330,492
- Other salaries and wages
- $13,767
- Salaries, compensation and benefits (total)
- $15,366
- Professional fundraising fees
- $0
- Program services (functional)
- $330,492
- Management and general (functional)
- $121,092
Balance sheet and other
- Total assets, start of year
- $2,737,739
- Total assets, end of year
- $4,375,160
- Total liabilities, end of year
- $3,482
- Net assets, end of year
- $4,371,678
- Net assets without donor restrictions
- $2,064,181
- Net assets with donor restrictions
- $2,307,497
- Gross unrelated business income
- $133,008
- Gross receipts
- $1,049,886
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2018
- State of legal domicile
- CA
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 September 30, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JOHN LIM | SECRETARY Trustee or director, Officer | 0 | $0 |
| KEVIN KANG | CHIEF EXECUTIVE OFFICER/CHAIRMAN Trustee or director, Officer | 0 | $0 |
| DAVID LEE | BOARD MEMBER Trustee or director | 0 | $0 |
| ROBIN KIM | BOARD MEMBER Trustee or director | 0 | $0 |
| THOMAS HAN | BOARD MEMBER Trustee or director | 0 | $0 |
| JERRY KANG | BOARD MEMBER Trustee or director | 0 | $0 |
| ALBERT JANG | CHIEF FINANCIAL OFFICER/TREASURER Trustee or director, Officer | 0 | $0 |
| KAE H KO | BOARD MEMBER/ INTERIM EXECUTIVE DIRECTOR Trustee or director | 0 | $0 |
| JOANNE KIM | BOARD MEMBER Trustee or director | 0 | $0 |
| TERRI MOSQUEDA | BOARD MEMBER Trustee or director | 0 | $0 |
990 for the year ended September 30, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KAE H JO | INTERIM EXECUTIVE DIRECTOR Trustee or director | 1 | $50,000 |
| TERESA MOSQUEDA | BOARD MEMBER Trustee or director | 0 | $0 |
| DAVID LEE | BOARD MEMBER Trustee or director | 0 | $0 |
| ROBIN KIM | BOARD MEMBER Trustee or director | 0 | $0 |
| THOMAS HAN | BOARD MEMBER Trustee or director | 0 | $0 |
| JERRY KANG | BOARD MEMBER Trustee or director | 0 | $0 |
| ALBERT JANG | BOARD MEMBER Trustee or director | 0 | $0 |
| JOHN LIM | SECRETARY Officer | 0 | $0 |
| WILLIAM CHOI | GENERAL COUNSEL Officer | 0 | $0 |
| KEVIN KANG | CHIEF EXECUTIVE OFFICER Officer | 0 | $0 |
| JOANNE KIM | CHIEF FINANCIAL OFFICER Officer | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 3600 WILSHIRE BLVD, LOS ANGELES, CA 90010-2603
- Principal officer (990 for 2023)
- KEVIN KANG, 3600 WILSHIRE BLVD 722, LOS ANGELES, CA 90010
- Signed the 990
- KAE HONG KO, INTERIM EXECUTIVE DIRECTOR
- Phone
- (213) 792-2301
- Return prepared by
- CKP LLP
California records
California keeps its own records of charities and corporations. Search them by EIN 83-2513160 or by the name KOREAN AMERICAN FOUNDATION.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
None
Program accomplishments
- KAF fulfills its mission and vision by raising and stewarding funds in order to strategically give back to the community through the administration of grants to nonprofits whose work address the most pressing needs of our community.
- KAF provides fundholder services, assisting with gift administration and providing expertise based on the donor's philanthropic interests.
- Activity Classification: Charitable GrantGrantee Name: PAVA WorldGrantee Address: 3470 Wilshire Blvd. #612, Los Angeles, CA 90010Grantee Relationship: NoneProperty Description: CashDate of Gift: 10/13/2023Expenses $5,000 · grants $5,000
- Activity Classification: Charitable GrantGrantee Name: Turbo Charitable FoundationGrantee Address: 12 Upper Blackwater Canyon Rd. Rolling Hills, CA 90274Grantee Relationship: NoneProperty Description: CashDate of Gift: 11/04/2023Expenses $5,000 · grants $5,000
- Activity Classification: Charitable GrantGrantee Name: Korean American Special Education CenterGrantee Address: 1233 S. Western Ave. Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 11/20/2023Expenses $100,000 · grants $100,000
- Activity Classification: Charitable GrantGrantee Name: Koreatown Youth and Community CenterGrantee Address: 3727 W. 6th St., Suite 300, Los Angeles, CA 90020Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/01/2023Expenses $10,000 · grants $10,000
- Activity Classification: Charitable GrantGrantee Name: Korea Town Senior and Community CenterGrantee Address: 965 Normandie Ave STE 200, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/01/2023Expenses $50,000 · grants $50,000
- Activity Classification: Charitable GrantGrantee Name: Korea Town Senior and Community CenterGrantee Address: 965 Normandie Ave STE 200, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/01/2023Expenses $10,000 · grants $10,000
- Activity Classification: Charitable GrantGrantee Name: Korea Town Senior and Community CenterGrantee Address: 965 Normandie Ave STE 200, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 09/18/2024Expenses $10,492 · grants $10,492
- Activity Classification: Charitable GrantGrantee Name: Seesaw Communities IncGrantee Address: 5681 Beach Blvd #100 Buena Park, CA 90621Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023Expenses $5,000 · grants $5,000
- Activity Classification: Charitable GrantGrantee Name: Vision Care Service WestGrantee Address: P. O. Box 743219 Los Angeles, CA 90004Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023Expenses $5,000 · grants $5,000
- Activity Classification: Charitable GrantGrantee Name: Korean American Story IncGrantee Address: 4 Cherry Lane, Scarsdale, NY 10583Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023Expenses $20,000 · grants $20,000
- Activity Classification: Charitable GrantGrantee Name: Anderson Munger Family YMCAGrantee Address: 4301 W 3rd St, Los Angeles, CA 90020Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023Expenses $20,000 · grants $20,000
- Activity Classification: Charitable GrantGrantee Name: Korean American CoalitionGrantee Address: 3727 West 6th Street Suite 305, Los Angeles, CA 90020Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023Expenses $20,000 · grants $20,000
- Activity Classification: Charitable GrantGrantee Name: Korean American Family ServicesGrantee Address: 3727 W 6th Street Suite 320, Los Angeles, CA 90020Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023Expenses $20,000 · grants $20,000
- Activity Classification: Charitable GrantGrantee Name: Faith and Community EmpowermentGrantee Address: 3435 Wilshire Boulevard, Suite 350, Los Angeles, CA 90010Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023Expenses $5,000 · grants $5,000
- Activity Classification: Charitable GrantGrantee Name: Zion Mountain FoundationGrantee Address: 685 N. 13th Ave. STE 1 Upland, CA 91786Grantee Relationship: NoneProperty Description: CashDate of Gift: 03/15/2024Expenses $20,000 · grants $20,000
- Activity Classification: Charitable GrantGrantee Name:Korean American Chamber of CommerceGrantee Address: 3435 Wilshire Blvd # 2450, Los Angeles, CA 90010Grantee Relationship: NoneProperty Description: CashDate of Gift: 03/15/2024Expenses $5,000 · grants $5,000
- Activity Classification: Charitable GrantGrantee Name: Koreatown Senior & Community CenterGrantee Address: 981 S. Western Ave, Suite 100, Los Angeles, CA 90006Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/01/2023Expenses $10,000 · grants $10,000
- Activity Classification: Charitable GrantGrantee Name: Koreatown Youth and Community CenterGrantee Address: 3727 W. 6th St., Suite 300, Los Angeles, CA 90020Grantee Relationship: NoneProperty Description: CashDate of Gift: 12/19/2023Expenses $10,000 · grants $10,000
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 September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | Not on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 83-2513160
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2019
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T31)
- Assets (IRS master file)
- $4,375,160
- Income (IRS master file)
- $1,049,886
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2024 | $1,049,886 | $451,584 | $4,375,160 | XML |
| 990 | September 2023 | $1,172,842 | $550,142 | $2,737,739 | XML |
| 990 | September 2022 | $2,358,281 | $571,745 | $2,042,303 | IRS |
| 990-EZ | September 2021 | – | – | – | IRS |
| 990-EZ | September 2020 | – | – | – | IRS |
| 990-EZ | September 2019 | – | – | – | 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 83-2513160).
Questions about KOREAN AMERICAN FOUNDATION
- What is the EIN of KOREAN AMERICAN FOUNDATION?
- The employer identification number (EIN) of KOREAN AMERICAN FOUNDATION is 83-2513160.
- Is KOREAN AMERICAN FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2019.
- Are donations to KOREAN AMERICAN FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does KOREAN AMERICAN FOUNDATION 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 KOREAN AMERICAN FOUNDATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did KOREAN AMERICAN FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2024.
- Who is the principal officer of KOREAN AMERICAN FOUNDATION?
- The 990 for the year ended September 30, 2024 names KEVIN KANG.
- Who are the officers and directors of KOREAN AMERICAN FOUNDATION?
- The 990 for the year ended September 30, 2024 lists 10 people; 0 received compensation from the organization.
- How much revenue does KOREAN AMERICAN FOUNDATION have?
- On its 990 for the year ended September 30, 2024 it reported revenue of $1,049,886, expenses of $451,584 and total assets of $4,375,160 at year end.
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