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Kernel University FY2021 filing

Tax-deductible

Fullerton, CA501(c)(3)Colleges & Universities EIN 95-4580540Revenue $656K in FY2021

On file with the IRSkernel.edu905 S Euclid St Ste 213, 92832-2810 · Fullerton, CATax-exempt since Jul 1996School — 170(b)(1)(A)(ii)

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Provide postsecondary higher education to a number of students.

501(c)(3) charity; gifts are tax-deductible.
60¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $3K a year · under 1% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$301K
30% of total assets
Looks good: liabilities are 30% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$656K
Spent
$603K
To programs
60%
Net assets
$718K
By yearFY2021–FY2025
Revenue
$656K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$656K
FY2023$950K
FY2024$940K
FY2025$947K
Expenses
$603K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$603K
FY2023$951K
FY2024$1.0M
FY2025$913K
Net assets
$718K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$718K
FY2023$540K
FY2024$468K
FY2025$722K

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1996.

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

Where the money goes

60 cents of each dollar spent went to programs.

Program services 60% · $359K Management & general 40% · $244K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Nancy Karroum
Board Member
$0Pt VII · Sec A
Wha Young Kim
Board Chair
$0Pt VII · Sec A
Hee Gwang Pae
Board Member
$0Pt VII · Sec A
Eun Gu Shin
Board Member
$0Pt VII · Sec A
Matthew Woo
President
$0Pt VII · Sec A
See Kernel University executive salaries →

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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

Offers college education to students.

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Provided by the organization

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1 program · $358K · in their own filed words · FY2020
01

Provided postsecondary higher education to a number of students.

$358Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$656K
Ln 12
Fees for servicesLn 2g$594K
Other incomeLn 4–11$52K
Gifts and grantsLn 1h$10K
Money outPt IX
$603K
Ln 25
Programscol B$359K
Managementcol C$244K
Owns and owesPt X
$718K
net assets · Ln 32
Cash and savingsLn 1–2$380K
Total assetsLn 16$1.0M
LiabilitiesLn 26$301K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Fees for servicesLn 2g$594K
Other incomeLn 4–11$52K
Total revenueLn 12$656K
Assets in detailPt X, end of year
CashLn 1$380K
Cash and savings togetherLn 1–2$380K
Land, buildings, equipmentLn 10c$247K
Other assetsLn 15$7K
Total assetsLn 16$1.0M
LiabilitiesLn 26$301K
Net assetsLn 32$718K
OperationsPt I, VI
EmployeesI 514
VolunteersI 65
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$383K$380K
Land, buildings, equipmentLn 10c$250K$247K
Total assetsLn 16$910K$1.0M
LiabilitiesLn 26$245K$301K
Net assetsLn 32$665K$718K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$242K$110K$132K
Pension plan contributionsLn 8$4K$4K
Payroll taxesLn 10$23K$16K$6K
Accounting feesLn 11c$9K$9K
Other fees for servicesLn 11g$27K$26K$1K
Office expensesLn 13$7K$7K
Information technologyLn 14$249$249
OccupancyLn 16$91K$64K$27K
Depreciation, depletion and amortizationLn 22$31K$31K
InsuranceLn 23$19K$19K
Other expenses (24a–d)Ln 24$135K$112K$24K
All other expensesLn 24e$14K$14K
Total functional expensesLn 25$603K$359K$244K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $947K$913K$34K$722K 990 PDF
FY2024 $940K$1.0M−$73K$468K 990 PDF
FY2023 $950K$951K−$1K$540K 990 PDF
FY2022 Not on file
FY2021 Viewing $656K$603K$53K$718K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $655,722 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $91,000$10,000
I-9 Program service revenuePrior year $635,145$593,670
I-10 Investment income$0
I-11 Other revenue$52,052
I-12 Total revenuePrior year $726,145$655,722
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $255,401$268,961
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $375,115$333,825
I-18 Total expensesPrior year $630,516$602,786
I-19 Revenue less expensesPrior year $95,629$52,936
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $655,722 across 5 lines filed
VIII-1f All other contributions, gifts and grants$10,000
VIII-1h Total contributions, gifts and grants$10,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $593,670$593,670
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $52,052$52,052
VIII-12 Total revenueRelated to mission $593,670 · Excluded from tax $52,052$655,722
Part IX · Statement of functional expenses $602,786 across 12 lines filed
IX-7 Other salaries and wagesPrograms $109,980 · Management $131,962$241,942
IX-8 Pension plan contributionsManagement $4,391$4,391
IX-10 Payroll taxesPrograms $16,212 · Management $6,416$22,628
IX-11c Accounting feesManagement $8,600$8,600
IX-11g Other fees for servicesPrograms $26,168 · Management $1,155$27,323
IX-13 Office expensesManagement $6,848$6,848
IX-14 Information technologyManagement $249$249
IX-16 OccupancyPrograms $63,593 · Management $27,253$90,846
IX-22 Depreciation, depletion and amortizationPrograms $31,000$31,000
IX-23 InsuranceManagement $19,193$19,193
IX-24 Other expenses (24a–d)Programs $111,798 · Management $23,609$135,407
IX-24e All other expensesManagement $14,359$14,359
IX-25 Total functional expensesPrograms $358,751 · Management $244,035 · Fundraising $0$602,786
Part X · Balance sheet $1,019,026 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $382,588$380,233
X-4 Accounts receivableStart of year $260,124$376,000
X-9 Prepaid expenses and deferred chargesStart of year $9,615$8,729
X-10c Land, buildings and equipment, netStart of year $250,441$246,664
X-15 Other assetsStart of year $7,400$7,400
X-16 Total assetsStart of year $910,168$1,019,026
X-17 Accounts payable and accrued expensesStart of year $8,667$5,016
X-19 Deferred revenueStart of year $41,650$98,350
X-25 Other liabilitiesStart of year $195,169$198,040
X-26 Total liabilitiesStart of year $245,486$301,406
X-27 Net assets without donor restrictionsStart of year $664,682$717,620
X-32 Total net assets or fund balancesStart of year $664,682$717,620
X-33 Total liabilities and net assetsStart of year $910,168$1,019,026
Part XI · Reconciliation of net assets $717,620 net assets at year end
XI-1 Total revenue$655,722
XI-2 Total expenses$602,786
XI-3 Revenue less expenses$52,936
XI-4 Net assets at start of year$664,682
XI-9 Other changes in net assets$2
XI-10 Net assets at end of year$717,620

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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