Korean American Garment Industry Association

Charity Navigator Rating: 1 Star (50%)

The Korean American Garment Industry Association has received a one-star rating from Charity Navigator, indicating significant concerns regarding its financial practices and accountability. The organization has a 50% score, which reflects weaknesses primarily in its financial health, particularly a problematic liabilities to assets ratio of 203.33%, suggesting a concerning level of debt relative to its assets.

Despite these financial challenges, the organization shows strengths in governance, with a fully independent board and effective documentation of board meeting minutes. The program expense ratio stands at 63.53%, which indicates that a substantial portion of its budget is allocated towards its programs rather than administrative costs. However, the overall financial status raises red flags for potential donors and stakeholders.

In summary, while the Korean American Garment Industry Association demonstrates solid governance practices, the financial risks indicated by its high liabilities to assets ratio are significant, warranting caution for those considering support or engagement with the organization.

This AI summary has been generated from information found on Charity Navigator.

Korean American Garment Industry Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Korean American Garment Industry Association 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: $12,500

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