Sarang Korean School: Nonprofit Profile, Financials & Form 990 (EIN 46-3074333)

Revenue by fiscal year
FY2020	$89K
FY2021	$158K
FY2022	$225K
FY2023	$251K
FY2024	$263K

Expenses by fiscal year
FY2020	$120K
FY2021	$149K
FY2022	$233K
FY2023	$270K
FY2024	$275K

Net assets by fiscal year
FY2020	$103K
FY2021	$110K
FY2022	$106K
FY2023	$87K
FY2024	$75K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $275K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation

Kyu Ho

Lim

$0Pt VII · Sec A

Sackill

Choi

$0Pt VII · Sec A

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Teaches foreign language, culture, and history to minorities to share Jesus' gospel.

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Provided by the organization

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1 program · $275K · in their own filed words · FY2024

01

To share jesus gospel through teaching foreigh language, culture and history to minor

$275Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$263K

Ln 12

Gifts and grantsLn 1h$263K

Money outPt IX

$275K

Ln 25

Programscol B$275K

Owns and owesPt X

$75K

net assets · Ln 32

Cash and savingsLn 1–2$68K

Total assetsLn 16$86K

LiabilitiesLn 26$10K

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a3

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$263K

Total revenueLn 12$263K

Assets in detailPt X, end of year

CashLn 1$68K

Cash and savings togetherLn 1–2$68K

Total assetsLn 16$86K

LiabilitiesLn 26$10K

Net assetsLn 32$75K

OperationsPt I, VI

EmployeesI 526

VolunteersI 610

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$89K	$68K
Total assetsLn 16	$92K	$86K
LiabilitiesLn 26	$4K	$10K
Net assetsLn 32	$87K	$75K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$159K	$159K	$0	$0
Payroll taxesLn 10	$15K	$15K	$0	$0
InsuranceLn 23	$8K	$8K	$0	$0
Other expenses (24a–d)Ln 24	$92K	$92K	$0	$0
All other expensesLn 24e	$300	$300	$0	$0
Total functional expensesLn 25	$275K	$275K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$263K	$275K	−$12K	$75K	990 PDF
FY2023	$251K	$270K	−$19K	$87K	990 PDF
FY2022	$225K	$233K	−$8K	$106K	990 PDF
FY2021	$158K	$149K	$9K	$110K	990 PDF
FY2020	$89K	$120K	−$31K	$103K	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2024 990 (6 parts)

Part I · Summary $262,795 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $251,250$262,795

I-9 Program service revenue$0

I-10 Investment income$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $251,250$262,795

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $173,716$173,974

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $96,355$100,699

I-18 Total expensesPrior year $270,071$274,673

I-19 Revenue less expensesPrior year −$18,821−$11,878

Part VI · Governance 0 of 3 board members independent, 1 to look at

VI-1a Voting members of the governing body3

VI-1b Independent voting members0

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $262,795 across 4 lines filed

VIII-1b Membership dues$239,795

VIII-1f All other contributions, gifts and grants$23,000

VIII-1h Total contributions, gifts and grants$262,795

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$262,795

Part IX · Statement of functional expenses $274,673 across 5 lines filed

IX-7 Other salaries and wagesPrograms $158,882 · Management $0 · Fundraising $0$158,882

IX-10 Payroll taxesPrograms $15,092 · Management $0 · Fundraising $0$15,092

IX-23 InsurancePrograms $8,036 · Management $0 · Fundraising $0$8,036

IX-24 Other expenses (24a–d)Programs $92,363 · Management $0 · Fundraising $0$92,363

IX-24e All other expensesPrograms $300 · Management $0 · Fundraising $0$300

IX-25 Total functional expensesPrograms $274,673 · Management $0 · Fundraising $0$274,673

Part X · Balance sheet $85,952 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $89,417$68,482

X-4 Accounts receivableStart of year $2,240$17,470

X-16 Total assetsStart of year $91,657$85,952

X-17 Accounts payable and accrued expensesStart of year $4,320$10,493

X-26 Total liabilitiesStart of year $4,320$10,493

X-27 Net assets without donor restrictionsStart of year $87,337$75,459

X-32 Total net assets or fund balancesStart of year $87,337$75,459

X-33 Total liabilities and net assetsStart of year $91,657$85,952

Part XI · Reconciliation of net assets $75,459 net assets at year end

XI-1 Total revenue$262,795

XI-2 Total expenses$274,673

XI-3 Revenue less expenses−$11,878

XI-4 Net assets at start of year$87,337

XI-10 Net assets at end of year$75,459

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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