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Korean Perfoming Arts Institute Of Chicago

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Arts, Culture and Humanities / Cultural, Ethnic Awareness (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$484k (2024)

Expenses
$467k (2024)

Total Assets
$201k (2024)

Total Liabilities
$181k (2024)

Source: Form 990 tax filings from 2015 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$483,721
Expenses
$467,369
Net Income
$16,352
Net Assets
$20,013
Notable Sources of Revenue Percent of Total Revenue
Contributions $246,837
51.0%
Program Services $236,884
49.0%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $150,375
32.2%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $201,013
Total Liabilities $181,000
Net Assets $20,013
Compensation
Key Employees and Officers Compensation Related Other
Deokhwan Kim (Education Director) $36,375 $0 $0
Chansoo Lee (Education Director) $24,000 $0 $0
Suwan Choi (Education Director) $22,000 $0 $0
Hyunchae Kim (Education Director) $22,000 $0 $0
Hojin Choi (Education Director) $20,000 $0 $0
Yun Sil Jang (Education Director) $16,000 $0 $0
Cheongra Ha (Education Director) $10,000 $0 $0
Jane Park (President) $0 $0 $0
Young Seok Lee (Secretary) $0 $0 $0
Jae Ha (Treasurer) $0 $0 $0
Elizabeth Yi (Director) $0 $0 $0
Jinhwa Suh (Director) $0 $0 $0
Ki Seok Kim (Director) $0 $0 $0
Ji Yeon Yuh (Director) $0 $0 $0
Byoung Sug Kim (Education Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$476,278
Expenses
$474,589
Net Income
$1,689
Net Assets
$3,661
Notable Sources of Revenue Percent of Total Revenue
Contributions $144,780
30.4%
Program Services $331,498
69.6%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $206,800
43.6%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $184,661
Total Liabilities $181,000
Net Assets $3,661
Compensation
Key Employees and Officers Compensation Related Other
Chansoo Lee (Education Director) $30,000 $0 $0
Woosung Jung (Education Director) $30,000 $0 $0
Hojin Choi (Education Director) $30,000 $0 $0
Suwan Choi (Education Director) $28,800 $0 $0
Yun Sil Jang (Education Director) $24,000 $0 $0
Deokhwan Kim (Education Director) $24,000 $0 $0
Sungjae Lee (Education Director) $20,000 $0 $0
Hyunchae Kim (Education Director) $20,000 $0 $0
Byoung Sug Kim (President) $0 $0 $0
Ji Yeon Yuh (Secretary) $0 $0 $0
Eun Kyung Ko (Treasurer) $0 $0 $0
Joshua Kim (Director) $0 $0 $0
Jinhwa Suh (Director) $0 $0 $0
Jane Park (Director) $0 $0 $0
Jae Ha (Director) $0 $0 $0
Young Seok Lee (Director) $0 $0 $0
Naomi Frydman (Director) $0 $0 $0
Kristina Yi (Director) $0 $0 $0

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Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$391,689
Expenses
$391,671
Net Income
$18
Net Assets
$1,973
Notable Sources of Revenue Percent of Total Revenue
Contributions $162,078
41.4%
Program Services $229,611
58.6%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $186,800
47.7%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $179,873
Total Liabilities $177,900
Net Assets $1,973
Compensation
Key Employees and Officers Compensation Related Other
Chansoo Lee (Education Director) $36,000 $0 $0
Woosung Jung (Education Director) $36,000 $0 $0
Hojin Choi (Education Director) $36,000 $0 $0
Suwan Choi (Education Director) $29,400 $0 $0
Deokhwan Kim (Education Director) $24,400 $0 $0
Yun Sil Jang (Education Director) $21,000 $0 $0
Sungjae Lee (Education Director) $4,000 $0 $0
Byoung Sug Kim (President) $0 $0 $0
Ji Yeon Yuh (Secretary) $0 $0 $0
Eun Kyung Ko (Treasurer) $0 $0 $0
Joshua Kim (Director) $0 $0 $0
Jinhwa Suh (Director) $0 $0 $0
Jane Park (Director) $0 $0 $0
Jae Ha (Director) $0 $0 $0
Young Seok Lee (Director) $0 $0 $0
Naomi Frydman (Director) $0 $0 $0
Kristina Yi (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$345,155
Expenses
$308,861
Net Income
$36,294
Net Assets
$78,956
Notable Sources of Revenue Percent of Total Revenue
Contributions $192,958
55.9%
Program Services $152,197
44.1%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $149,500
48.4%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $218,356
Total Liabilities $139,400
Net Assets $78,956
Compensation
Key Employees and Officers Compensation Related Other
Chansoo Lee (Education Director) $33,600 $0 $0
Woosung Jung (Education Director) $33,600 $0 $0
Hojin Choi (Education Director) $28,000 $0 $0
Suwan Choi (Education Director) $23,700 $0 $0
Deokhwan Kim (Education Director) $16,800 $0 $0
Byoung Sug Kim (President) $13,800 $0 $0
Ji Yeon Yuh (Secretary) $0 $0 $0
Eun Kyung Ko (Treasurer) $0 $0 $0
Joshua Kim (Director) $0 $0 $0
Jinhwa Suh (Director) $0 $0 $0
Yun Sil Jang (Education Director) $0 $0 $0
Jane Park (Director) $0 $0 $0
Jae Ha (Director) $0 $0 $0
Young Seok Lee (Director) $0 $0 $0
Naomi Frydman (Director) $0 $0 $0
Kristina Yi (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$224,367
Expenses
$192,209
Net Income
$32,158
Net Assets
$42,660
Notable Sources of Revenue Percent of Total Revenue
Contributions $100,798
44.9%
Program Services $118,392
52.8%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $5,177
2.3%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $51,850
27.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $182,060
Total Liabilities $139,400
Net Assets $42,660
Compensation
Key Employees and Officers Compensation Related Other
Chansoo Lee (Education Director) $16,200 $0 $0
Woosung Jung (Education Director) $14,200 $0 $0
Byoung Sug Kim (President) $11,200 $0 $0
Hojin Choi (Education Director) $6,250 $0 $0
Yun Sil Jang (Education Director) $4,000 $0 $0
Ji Yeon Yuh (Secretary) $0 $0 $0
Eunf Kyung Ko (Treasurer) $0 $0 $0
Kyong Mee Choi (Director) $0 $0 $0
Jinhwa Suh (Director) $0 $0 $0
Suwan Choi (Education Director) $0 $0 $0
Kyung Nam Ko (Director) $0 $0 $0
Jane Park (Director) $0 $0 $0
Young E Kim (Director) $0 $0 $0
Young Seok Lee (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$300,765
Expenses
$307,395
Net Income
-$6,630
Net Assets
$10,502
Notable Sources of Revenue Percent of Total Revenue
Contributions $78,410
26.1%
Program Services $222,355
73.9%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $65,000
21.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $10,502
Total Liabilities $0
Net Assets $10,502

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$237,180
Expenses
$218,295
Net Income
$18,885
Net Assets
$17,132
Notable Sources of Revenue Percent of Total Revenue
Contributions $73,040
30.8%
Program Services $164,140
69.2%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $17,132
Total Liabilities $0
Net Assets $17,132

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from 990-EZ
Revenue
$181,117
Expenses
$187,704
Net Income
-$6,587
Net Assets
-$1,753
Notable Sources of Revenue Percent of Total Revenue
Contributions $37,180
20.5%
Program Services $142,217
78.5%
Investment Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Assets/Debt
Total Assets $597
Total Liabilities $2,350
Net Assets -$1,753

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from 990-EZ
Revenue
$139,472
Expenses
$135,281
Net Income
$4,191
Net Assets
$4,834
Notable Sources of Revenue Percent of Total Revenue
Contributions $13,820
9.9%
Program Services $123,192
88.3%
Investment Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Assets/Debt
Total Assets $14,834
Total Liabilities $10,000
Net Assets $4,834

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from 990-EZ
Revenue
$98,499
Expenses
$99,050
Net Income
-$551
Net Assets
$643
Notable Sources of Revenue Percent of Total Revenue
Contributions $12,557
12.7%
Program Services $83,482
84.8%
Investment Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Assets/Debt
Total Assets $643
Total Liabilities $0
Net Assets $643

Document Links

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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