KOREAN CULTURE CENTER OF AUSTIN INC: Form 990, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
KOREAN CULTURE CENTER OF AUSTIN INC (EIN 46-2663855)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-10-07
IRS object ID
201532809349300788
Schema version
2014v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2015-10-07T20:56:01-07:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Jae Jin Yang CPA PCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line113740 Research Blvd Ste K1AddressLine1Txt
CityAustinCityNm
State AbbreviationTXStateAbbreviationCd
ZIP78750ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2014-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN462663855EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1KOREAN CULTURE CENTER OF AUSTIN INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlKOREBusinessNameControlTxt
Phone5129176141PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line111813 N LAMAR BLVDAddressLine1Txt
CityAUSTINCityNm
State AbbreviationTXStateAbbreviationCd
ZIP78753ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonYONG LARK PARKPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone5129176141PhoneNum
Signature2015-05-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJAE JIN YANGPreparerPersonNm
Phone5123421055PhoneNum
Preparation2015-10-07PreparationDt
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-02-25 16:41:14ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Address ChangeYes (X)AddressChangeInd
Principal OfficerYONG LARK PARKPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line110713 BAY LAUREL TRAILAddressLine1Txt
CityAUSTINCityNm
State AbbreviationTXStateAbbreviationCd
ZIP78750ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$131,962GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressN/AWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2013FormationYr
Legal Domicile StateTXLegalDomicileStateCd
Activity Or MissionPromoting social, cultural, educational and financial cooperation and understanding within the Korean-American community and with other communitites in the Greater Austin.ActivityOrMissionDesc
Voting Members Governing Body4VotingMembersGoverningBodyCnt
Voting Members Independent4VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers200TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$319,956PYContributionsGrantsAmt
CY Contributions Grants$131,893CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$42PYInvestmentIncomeAmt
CY Investment Income$69CYInvestmentIncomeAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$319,998PYTotalRevenueAmt
CY Total Revenue$131,962CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$8,369PYOtherExpensesAmt
CY Other Expenses$8,240CYOtherExpensesAmt
PY Total Expenses$8,369PYTotalExpensesAmt
CY Total Expenses$8,240CYTotalExpensesAmt
PY Revenues Less Expenses$311,629PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$123,722CYRevenuesLessExpensesAmt
Total Assets BOY$413,540TotalAssetsBOYAmt
Total Assets EOY$531,300TotalAssetsEOYAmt
Total Liabilities BOY$101,911TotalLiabilitiesBOYAmt
Total Liabilities EOY$95,949TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$311,629NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$435,351NetAssetsOrFundBalancesEOYAmt
MissionPromoting social, cultural, educational and financial cooperation and understandingMissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
DescPROMOTION: PROMOTING SOCIAL, CULTURAL, EDUCATIONALAND FINANCIAL COOPERATION AND UNDERSTANDING WITHIN THE KOREAN-AMERICAN COMMUNITY AND WITH OTHER COMMUNITIES IN THE GREATER AUSTIN AREA.Desc

Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp

FieldValueIRS element (for citing)
Expense$6,744ExpenseAmt
DescSPACE: 1. PROVIDING A SPACE AND FORUM FOR REGULAR MEETINGS AND GATHERINGS WHERE KOREAN-AMERICAN INDIVIDUALS AND ORGANIZATION IN THE GREATER AUSTIN COMMUNITY AND OTHER INTERESTED INDIVIDUALS CAN VOICE CONCERNS AND IDEAS, ESTABLISH GOALS, AND PLAN TO MEET THOSE GOALS. 2. PROVIDING A SPACE AND HOSTING EVENTS AND PROGRAMS FOR THE KOREAN-AMERICAN ELDERLY RESIDING IN THE GREATER AUSTIN AREA. 3. PROVIDING A SPACE AND HOSTING EVENTS AND PROGRAMS DESIGNED TO PROMOTE UNDERSTANDING OF KOREAN HERITAGE, CULTDesc
FieldValueIRS element (for citing)
Total Program Service Expenses$6,744TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Temp Or Permanent EndowmentsfalseTempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With Officer EntfalseBusinessRlnWithOfficerEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Transaction With Control EntfalseTransactionWithControlEntInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredfalseScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members4GoverningBodyVotingMembersCnt
Independent Voting Member4IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyfalseConflictOfInterestPolicyInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonCHUN JA KANGPersonNm
Phone5125895057PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line115526 CADOZ DRAddressLine1Txt
CityAUSTINCityNm
State AbbreviationTXStateAbbreviationCd
ZIP78728ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (5 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
YONG LARK PARK
PRESIDENT8.00Yes (X)Yes (X)$0$0$0
CHUN JA KANG
SECRETARY8.00Yes (X)Yes (X)$0$0$0
SANG GI BAE
DIRECTOR8.00Yes (X)$0$0$0
IL YOUNG CHON
DIRECTOR8.00Yes (X)$0$0$0
JIWON SUH
DIRECTOR8.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
Fundraising$61,893FundraisingAmt
Related Organizations$70,000RelatedOrganizationsAmt
Total Contributions$131,893TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$69TotalRevenueColumnAmt
Exclusion$69ExclusionAmt
FieldValueIRS element (for citing)
Contri Rpt Fundraising Event$61,893ContriRptFundraisingEventAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$131,962TotalRevenueColumnAmt
Exclusion$69ExclusionAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$500TotalAmt
Program Services$0ProgramServicesAmt
Management And General$500ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$820TotalAmt
Program Services$0ProgramServicesAmt
Management And General$820ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$176TotalAmt
Program Services$0ProgramServicesAmt
Management And General$176ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$394TotalAmt
Program Services$394ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Interest InterestGrp

FieldValueIRS element (for citing)
Total$5,364TotalAmt
Program Services$5,364ProgramServicesAmt
Management And General$0ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Other Expenses OtherExpensesGrp (2 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
UTILITIES$836$836$0$0
MAINTENANCE$150$150$0$0

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$8,240TotalAmt
Program Services$6,744ProgramServicesAmt
Management And General$1,496ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$94,033BOYAmt
EOY$104,703EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$426,597LandBldgEquipCostOrOtherBssAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$319,507BOYAmt
EOY$426,597EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$413,540BOYAmt
EOY$531,300EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$3,070BOYAmt

Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp

FieldValueIRS element (for citing)
BOY$98,841BOYAmt
EOY$95,949EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$101,911BOYAmt
EOY$95,949EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$311,629BOYAmt
EOY$435,351EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$311,629BOYAmt
EOY$435,351EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$413,540BOYAmt
EOY$531,300EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$123,722ReconcilationRevenueExpnssAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind
Public Support Total170$0PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Total$0TotalAmt
FieldValueIRS element (for citing)
Public Support CY1700PublicSupportCY170Pct

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$319,957CurrentTaxYearMinus1YearAmt
Current Tax Year$131,893CurrentTaxYearAmt
Total$451,850TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$319,957CurrentTaxYearMinus1YearAmt
Current Tax Year$131,893CurrentTaxYearAmt
Total$451,850TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$451,850PublicSupportTotal509Amt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Total$451,850TotalAmt
FieldValueIRS element (for citing)
First5 Years509Yes (X)First5Years509Ind
Public Support CY5090PublicSupportCY509Pct
Investment Income CY0InvestmentIncomeCYPct

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$65,471OtherCostOrOtherBasisAmt
Book Value$65,471BookValueAmt

Buildings BuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$254,036OtherCostOrOtherBasisAmt
Book Value$254,036BookValueAmt

Leasehold Improvements LeaseholdImprovementsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$107,090OtherCostOrOtherBasisAmt
Book Value$107,090BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$426,597TotalBookValueLandBuildingsAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Pt VI, Line 7aTHE GOVERNING BOARD RESERVES THE RIGHT TO APPOINT AND RECRUIT OTHER BOARD MEMBERS AS STATED IN OUR BOARD BYLAWS.
Pt VI, Line 11bTHE OFFICERS OF THE ORGANIZATION HAVE REVIEWED THE FORM 990 FOR ANY KNOW ERRORS TO ENSURE THE ORGANIZATION'S INTEGRITY
Pt VI, Line 19WE PROVIDE ANNUAL REPORTS ON LOCAL NEWSPAPERS

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