Overview
What is The Korean American Association Of Greater New York Inc?
The Korean American Association of Greater New York Inc. is a nonprofit organization situated in New York City, specifically at 149 WEST 24TH STREET 6TH FLOOR. Their primary mission is to assist South Korean immigrants in integrating into the Greater New York area, ultimately becoming Korean-American citizens. They strive to foster unity and strengthen social relationships within the community. Additionally, they participate in various parades, including the Korean Independence Day Parade, and have responded to the COVID-19 pandemic by establishing a relief fund and organizing a 'Sharing Love' initiative. The organization employs a team of three individuals, dedicated to serving their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars, 73%
The Korean American Association of Greater New York Inc has received a two-star rating from Charity Navigator, indicating a need for improvement in certain operational areas. While the organization has a decent score of 73%, it highlights opportunities for enhancement in both accountability and financial performance.
Strengths of the organization include a fully independent board consisting of 14 members, which suggests strong governance practices. The organization also demonstrates effective management of its financial resources, as evidenced by a program expense ratio of 76.70%, indicating that a significant portion of its budget is allocated to programs rather than administrative costs. Additionally, there are no material diversions of assets, signaling fiscal responsibility.
However, while the strengths are notable, the overall two-star rating reflects ongoing challenges that the organization may face in maximizing its impact and transparency. Continuous efforts to improve its performance metrics could further enhance its reputation and effectiveness in serving its community.
This AI summary has been generated from information found on Charity Navigator.
Is The Korean American Association Of Greater New York Inc legitimate?
The Korean American Association Of Greater New York Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Korean American Association Of Greater New York 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $22,261
For more financial information, click here
What is the mission statement of The Korean American Association Of Greater New York Inc?
The Korean American Association of Greater New York Inc. is dedicated to assisting South Korean immigrants in settling in the Greater New York area and transitioning into Korean-American citizenship. Their mission includes promoting activities that foster unity and encourage healthy social relationships among the community members. This organization aims to support South Korean immigrants in their adjustment process, thereby enhancing the overall community cohesion. Additionally, they participate in events such as Korean Independence Day parades and other cultural celebrations to promote cultural exchange and unity. During the COVID-19 pandemic, the association has also established relief funds and initiatives to support those in need within the community.
Who is the CEO of The Korean American Association Of Greater New York Inc?
Charles Yoon is the President of The Korean American Association Of Greater New York Inc.
What is the revenue of The Korean American Association Of Greater New York Inc?
The Korean American Association Of Greater New York Inc's revenue in 2023 was $469,352.
Who are the executives of The Korean American Association Of Greater New York Inc and what are their salaries?
The average compensation at The Korean American Association Of Greater New York Inc during 2023 was $7,420. There are 3 employees at The Korean American Association Of Greater New York Inc.
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Where can I find the form 990 for The Korean American Association Of Greater New York Inc?
The Korean American Association Of Greater New York Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of The Korean American Association Of Greater New York Inc
The Korean American Association of Greater New York Inc is dedicated to assisting South Korean immigrants in settling down and integrating into the greater New York area, ultimately transforming into Korean-American citizens. Beyond this, the organization seeks to foster unity and healthy social relationships among this community. This mission is achieved through promoting various activities that encourage interaction and cohesion among Korean immigrants.
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Impact
July, 2024
The Korean American Association Of Greater New York Inc has a significant impact on the community by assisting South Korean immigrants in settling down in the Greater New York area as Korean-American citizens. They also work to promote activities that foster unity and healthy social relationships within the Korean-American community. Additionally, the organization participates in events such as the Korean Independence Day Parade and other parades, as well as providing support through initiatives like the COVID-19 relief fund and the COVID-19 sharing love program. Their work not only helps immigrants integrate into society but also strengthens the bonds within the Korean-American community, contributing to a more cohesive and supportive environment for all involved.
This information is meant to be a general summary of The Korean American Association Of Greater New York 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 2023.
- Program Service Revenue: $7,802
- Gross Receipts: $1,076,888
Assets and Liabilities:
- Total Assets: $760,569
- Total Liabilities: $242,185
- Net Assets: $518,384
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM 1
Revenue
$7,802
Organization Details
Founding Year
1972
Phone
(212) 255-6969Principal Officer
Charles Yoon
Main Address
149 WEST 24TH STREET 6TH FLOOR, NEW YORK, NY, 10001
NTEE Category
Code: P84 - Human services
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