Overview
What is Korean Institute Of Southern California?
The Korean Institute of Southern California (KISC) is a nonprofit organization established in 1972, initially named "Moogunghwa Hakwon." Its primary purpose is to educate the second-generation Korean-American population, with the hope that they will emerge as future leaders. The institute fulfills its mission by providing educational services, focusing on teaching the Korean language and culture. This endeavor aims to preserve and promote Korean heritage among its students, ultimately strengthening the Korean-American community.
Official website here: www.lakisc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 69%)
The Korean Institute of Southern California has received a Two-Star rating from Charity Navigator, indicating a need for improvement in its overall financial management and accountability practices. While the organization demonstrates strengths in certain areas, such as having 100% independent board members and a strong program expense ratio of 85.25%, it falls short in transparency and governance policies which are essential for public trust.
The organization has been rated favorably for its lack of material diversions of assets and a favorable liabilities to assets ratio of 39.00%. However, the absence of essential policies including conflict of interest, whistleblower, and document retention raises concerns regarding its governance practices. Additionally, the lack of financial statements and the tax form on its website further detracts from its accountability.
Overall, while the Korean Institute of Southern California shows commitment through independent governance and effective program spending, significant gaps in financial transparency and policy documentation present challenges that the organization must address to enhance its rating and public confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Korean Institute Of Southern California legitimate?
Korean Institute Of Southern California is a legitimate nonprofit organization registered as a 501(c)(3) entity. Korean Institute Of Southern California 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: $404,020
For more financial information, click here
Official website here: www.lakisc.org
What is the mission statement of Korean Institute Of Southern California?
The Korean Institute of Southern California (KISC) is dedicated to providing educational services, focusing primarily on teaching the Korean language and culture. Established in 1972, this institution aims to nurture the second generation of Korean Americans, with the hope that they will emerge as future leaders. Through its educational programs, KISC seeks to foster a deeper understanding and appreciation of Korean culture, thereby promoting cultural exchange and preservation. The institute's mission is to equip individuals with the linguistic and cultural skills needed to contribute positively to their communities and the wider society.
Official website here: www.lakisc.org
Who is the CEO of Korean Institute Of Southern California?
Hyoung Man Park is the Predient of Korean Institute Of Southern California.
Official website here: www.lakisc.org
What is the revenue of Korean Institute Of Southern California?
Korean Institute Of Southern California's revenue in 2021 was $885,752.
Official website here: www.lakisc.org
Who are the executives of Korean Institute Of Southern California and what are their salaries?
Here are 4 key members and their salaries:
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- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
Official website here: www.lakisc.org
Where can I find the form 990 for Korean Institute Of Southern California?
Korean Institute Of Southern California's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.lakisc.org
Learn more at the official website: www.lakisc.org
Mission Statement of Korean Institute Of Southern California
The Korean Institute of Southern California, initially known as "Moogunghwa Hakwon," was established in 1972 with a mission to provide educational services. This mission primarily revolves around teaching the Korean language and culture. The organization's goal is to educate the second generation of Korean Americans, nurturing them to become future leaders within their community. By focusing on both language and cultural education, the Korean Institute of Southern California aims to preserve and promote Korean heritage, fostering a sense of identity and connection among its students.
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Impact
July, 2024
The Korean Institute of Southern California has had a significant impact on the community by providing educational services focused on teaching Korean language and culture. Since its establishment in 1972 as "Moogunghwa Hakwon," the institute has played a crucial role in educating 2nd generation Korean Americans with the goal of shaping them into future leaders. Through their mission to teach Korean language and culture, the institute contributes to the preservation and promotion of Korean heritage in Los Angeles, California. Their dedication to education is evident in their commitment to empowering individuals with knowledge and understanding of Korean traditions and language, thereby fostering a stronger sense of identity and connection to their cultural roots.
This information is meant to be a general summary of Korean Institute Of Southern California. 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 2021.
- Program Service Revenue: $582,898
- Gross Receipts: $885,752
Assets and Liabilities:
- Total Assets: $2,075,100
- Total Liabilities: $809,383
- Net Assets: $1,265,717
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITION AND PROGRAM
Revenue
$582,898
Organization Details
Founding Year
1979
Principal Officer
Hyoung Man Park
Main Address
4900 WILSHIRE BLVD, Los Angeles, CA, 90010
Website
www.lakisc.orgNTEE Category
Code: B200 - Education
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