Nonprofit · EIN 93-2255227
KOREAN AMERICAN CULTURE AND ARTS INC
Tax-exempt · NEW YORK, NY 10004
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $274,528 | $236,338 | $38,190 | $6,332 | $5,000 | $1,332 |
| December 31, 2023 | 990 | $40,957 | $77,815 | -$36,858 | $8,142 | $45,000 | -$36,858 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $274,528
- of which government grants
- $14,294
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $355
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $6,572
- Occupancy
- $149,962
- Travel
- $52,020
- Depreciation
- $338
- Program services (functional)
- $223,411
- Management and general (functional)
- $5,184
- Fundraising (functional)
- $7,743
Balance sheet and other
- Total assets, start of year
- $8,142
- Total assets, end of year
- $6,332
- Total liabilities, end of year
- $5,000
- Net assets, end of year
- $1,332
- Net assets without donor restrictions
- $1,332
- Gross receipts
- $274,528
- Employees
- 0
- Year formed
- 2023
- State of legal domicile
- NY
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 |
|---|---|---|---|
| JONG HOON BAE | PRESIDENT/DI Trustee or director, Officer | – | $0 |
| KWANG KI KIM | DIRECTOR Trustee or director | – | $0 |
| WILLIAM Y KIM | TREASURER/DI Trustee or director, Officer | – | $0 |
| DANA Y LEE | DIRECTOR Trustee or director | – | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JONG HOON BAE | PRESIDENT/DI Trustee or director, Officer | – | $0 |
| KWANG KI KIM | DIRECTOR Trustee or director | – | $0 |
| WILLIAM Y KIM | TREASURER/DI Trustee or director, Officer | – | $0 |
| DANA Y LEE | DIRECTOR Trustee or director | – | $0 |
Address and contacts
- Address (IRS master file)
- 11 BROADWAY STE 560, NEW YORK, NY 10004-1447
- Principal officer (990 for 2024)
- WILLIAM Y KIM, 38 W 32ND ST STE 1100, NEW YORK, NY 10001
- Signed the 990
- WILLIAM Y KIM, TREASURER/DIRECTOR
- Phone
- (212) 594-9034
- Return prepared by
- LK CPAS LLC
Mission
TO EXPAND CULTURAL EXCHANGE THROUGH EXHIBITIONS, PERFORMANCES, FASHION SHOWS,CULINARY EVENTS, DISTRIBUTION OF PUBLICATIONS, AND OTHER ARTISTIC ENDEAVORS BETWEEN KOREA AND THE UNITED STATES
Program accomplishments
- CONCERTS INTRODUCING THE CULTURES OF BOTH COUNTRIES WERE HELD IN NEW YORK, USA, AND TORONTO, CANADA, FOR CULTURAL EXCHANGE BETWEEN THE UNITED STATES AND SOUTH KOREA.Expenses $223,056
- CHURCH DONATIONExpenses $355 · grants $355
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
- 93-2255227
- 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
- 2023
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A99)
- Assets (IRS master file)
- $6,332
- Income (IRS master file)
- $274,528
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $274,528 | $236,338 | $6,332 | XML |
| 990 | December 2023 | $40,957 | $77,815 | $8,142 | XML |
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 93-2255227).
Questions about KOREAN AMERICAN CULTURE AND ARTS INC
- What is the EIN of KOREAN AMERICAN CULTURE AND ARTS INC?
- The employer identification number (EIN) of KOREAN AMERICAN CULTURE AND ARTS INC is 93-2255227.
- Is KOREAN AMERICAN CULTURE AND ARTS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to KOREAN AMERICAN CULTURE AND ARTS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does KOREAN AMERICAN CULTURE AND ARTS 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 KOREAN AMERICAN CULTURE AND ARTS 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 KOREAN AMERICAN CULTURE AND ARTS 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 KOREAN AMERICAN CULTURE AND ARTS INC?
- The 990 for the year ended December 31, 2024 names WILLIAM Y KIM.
- Who are the officers and directors of KOREAN AMERICAN CULTURE AND ARTS INC?
- The 990 for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
- How much revenue does KOREAN AMERICAN CULTURE AND ARTS INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $274,528, expenses of $236,338 and total assets of $6,332 at year end.
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