Overview
What is Korean-American Community Foundation Inc?
The Korean-American Community Foundation, Inc. (KACF) is a nonprofit organization situated in New York City, specifically at 135 East 64th Street, 2nd Floor. Their mission is to empower and transform communities through philanthropy, volunteerism, and inter-community bridge building. By providing grants and capacity building assistance, KACF supports organizations addressing pressing needs within the Korean American community and beyond. KACF serves as a platform for individuals to amplify their giving's impact and foster connections across generations and communities, with a total staff of 8 dedicated individuals.
Official website here: www.kacfny.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
The Korean-American Community Foundation Inc. has received an impressive 97% score from Charity Navigator, indicating a high level of accountability and financial health. This four-star rating is derived entirely from the organization's performance in financial management, showcasing their effective oversight and transparency in operations.
Strengths of the foundation include complete independence among board members, with all 15 members being independent. This independent governance, coupled with strict financial oversight measures, such as an active Audit and Oversight Committee, contributes to its strong accountability profile. The organization allocates an impressive 77.72% of its expenses directly to programs, demonstrating a commitment to mission-driven activities over administrative costs.
While the financial metrics are robust, it's worth noting that some key personnel earn substantial salaries, which may raise questions for some donors regarding compensation relative to nonprofit standards. Nonetheless, the foundation maintains a solid liability-to-assets ratio and a healthy working capital ratio, signifying sound financial practices. Overall, the Korean-American Community Foundation Inc. appears well-managed and dedicated to its community-focused initiatives.
This AI summary has been generated from information found on Charity Navigator.
Is Korean-American Community Foundation Inc legitimate?
Korean-American Community Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Korean-American Community Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $452,103
Professional Fundraising Fees: $0
Other Salaries and Wages: $288,583
For more financial information, click here
Official website here: www.kacfny.org
What is the mission statement of Korean-American Community Foundation Inc?
The Korean-American Community Foundation (KACF) aims to provide assistance and grants to organizations addressing pressing needs within the Korean American community and beyond. By doing so, the foundation offers a platform for supporters to amplify their philanthropic impact and foster connections across generations and communities. KACF's mission is accomplished through philanthropy, volunteerism, and inter-community bridge-building, which are achieved through grantmaking promoting self-sufficiency, raising awareness of needs and issues, and fostering a culture of giving.
Official website here: www.kacfny.org
Who is the CEO of Korean-American Community Foundation Inc?
Kyung Yoon is the President of Korean-American Community Foundation Inc.
Official website here: www.kacfny.org
What is the revenue of Korean-American Community Foundation Inc?
Korean-American Community Foundation Inc's revenue in 2022 was $3,884,951.
Official website here: www.kacfny.org
Who are the executives of Korean-American Community Foundation Inc and what are their salaries?
The average compensation at Korean-American Community Foundation Inc during 2022 was $92,586. There are 8 employees and 66 volunteers at Korean-American Community Foundation Inc.
Here are 17 key members and their salaries:
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- Other: $5,875
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Official website here: www.kacfny.org
Where can I find the form 990 for Korean-American Community Foundation Inc?
Korean-American Community Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.kacfny.org
Learn more at the official website: www.kacfny.org
Mission Statement of Korean-American Community Foundation Inc
The Korean-American Community Foundation, Inc. (KACF) is a non-profit organization committed to making a transformative impact on communities through philanthropy, volunteerism, and inter-community bridge-building. Its mission is twofold: firstly, KACF provides grants and capacity-building assistance to organizations working to address the most pressing needs within the Korean-American community and beyond. By doing so, KACF empowers these organizations to become more self-sufficient and better equipped to serve their communities.
Secondly, KACF serves as a platform for its supporters, offering them an opportunity to amplify the impact of their giving and foster connections across generations and communities. By bridging these gaps, KACF plays a crucial role in promoting a culture of giving and raising awareness about the needs and issues within the Korean-American community. In essence, the Korean-American Community Foundation, Inc. is dedicated to enhancing the well-being of its community through philanthropic efforts, capacity building, and inter-community collaboration.
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Impact
October, 2024
Korean-American Community Foundation Inc (KACF) significantly impacts the Korean American community and beyond by providing essential grants and capacity-building assistance to organizations addressing critical needs. By empowering these organizations, KACF aids in promoting self-sufficiency among underserved and under-resourced populations.
Through its grantmaking activities, KACF raises awareness of pressing issues and fosters a culture of giving, encouraging community members to partake in philanthropy and volunteerism. This not only addresses immediate challenges faced by the community but also builds long-lasting bridges across generations and different communities. The foundation plays a vital role in transforming and uplifting the community by supporting initiatives that create more equitable opportunities and resources for all. The collective efforts of KACF magnify the impact of giving, making a tangible difference in the lives of many.
This information is meant to be a general summary of Korean-American Community Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$24,855
- Program Service Revenue: $50,270
- Gross Receipts: $4,694,009
Assets and Liabilities:
- Total Assets: $5,808,291
- Total Liabilities: $1,503,929
- Net Assets: $4,304,362
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
$50,270
Organization Details
Founding Year
2002
Phone
(646) 878-9427Principal Officer
Kyung Yoon
Main Address
135 EAST 64TH STREET 2ND FLOOR, NEW YORK, NY, 10065
Website
www.kacfny.orgNTEE Category
Code: T31 - Philanthropy
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