Nonprofit · EIN 88-3166362
NEW KOREA FOUNDATION INTERNATIONAL
Tax-exempt · ROBBINSDALE, MN 55422
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $202,881 | $200,895 | $1,986 | $5,044 | $3,058 | $1,986 |
| December 31, 2023 | 990 | $376,598 | $376,598 | $0 | $374,625 | $374,625 | $0 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $202,881
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $171,000
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $13,851
- Salaries, compensation and benefits (total)
- $16,909
- Professional fundraising fees
- $0
- Program services (functional)
- $171,000
- Management and general (functional)
- $29,895
Balance sheet and other
- Total assets, start of year
- $227,825
- Total assets, end of year
- $5,044
- Total liabilities, end of year
- $3,058
- Net assets, end of year
- $1,986
- Net assets without donor restrictions
- $1,986
- Gross receipts
- $202,881
- Employees
- 3
- Volunteers
- 1
- Year formed
- 2022
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Kelly Sadler | CAO, Office Administrator Key employee | 45 | $6,459 |
| Kenneth Bae | CEO, President Key employee | 40 | $3,733 |
| Young Kim | Director of Missions Trustee or director | 5 | $0 |
| Ben Kim | Director of Technology Trustee or director | 15 | $0 |
| Heather Castro | CFO Trustee or director | 12 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Richard Nelson | CMO Officer, Key employee | 20 | $12,000 |
| Kenneth Bae | CEO, President Officer, Key employee | 40 | $9,000 |
| Kelly Sadler | CAO, Office Administrator Officer, Key employee | 40 | $9,000 |
| Young Kim | Director of Missions Trustee or director, Officer | 5 | $0 |
| Ben Kim | Director of Technology Trustee or director, Officer | 10 | $0 |
| Heather Castro | CFO Officer | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 3817 SCOTT AVE N, ROBBINSDALE, MN 55422-2022
- Principal officer (990 for 2024)
- Kenneth Bae, 4048 Lakeland Ave N, 22171, Minneapolis, MN 55422
- Signed the 990
- Kelly Sadler, Office Manager
- Phone
- (763) 732-3640
- Website
- http://newkoreafi.org
Mission
We actively provide Christian led compassionate care, education, and resource networking to help restore and rebuild the lives of North Korean refugees today, preparing them to be the hands of change in the future.
Program accomplishments
- Our Shalom House Network has provided mental health care, access to medical care, a safe place to bather, do laundry, and rest, as well as a place to receive nutritious meals. Additionally, we have been able to provide educational scholarships to the children of refugee women, provide Christmas gifts to their families, and on occasion provide relocation assistance, This network is located in neighboring countries to North Korea and offer vital rehabilitation and restoration services to those we serve.Expenses $92,000
- New Korea English Reunification Camp (NKERC) is an annual camp held in South Korea. We focus on fast-tracking core English language skills for North Korean defectors and first generation South Koreans of North Korean descent, as well as South Korean students. Through our global camp centered volunteer staff, coursework, extra-curricular activities, and opportunities for evangelism, we are able to make a powerful impact in the lives of those we serve.Expenses $44,000
- Our Winter Discipleship Camp is comprised of three interconnected programs: 1) Winter Faith Retreat, 2) Winter English Intensive School, 3) Winter Leader and Discipleship training. Through these three programs we are able to provide fast-tracked English language education, community building, and foster leadership and discipleship skills in the North Korean defectors we serve. For our attendees, these programs offer them vital language skills needed for college level learning, connect hearts and minds together, and in many cases introduce them to Christianity for the first time.Expenses $35,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 88-3166362
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2024
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- International, foreign affairs and national security (Q30)
- Assets (IRS master file)
- $5,044
- Income (IRS master file)
- $202,881
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $202,881 | $200,895 | $5,044 | IRS |
| 990 | December 2023 | $376,598 | $376,598 | $374,625 | XML |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 88-3166362).
Questions about NEW KOREA FOUNDATION INTERNATIONAL
- What is the EIN of NEW KOREA FOUNDATION INTERNATIONAL?
- The employer identification number (EIN) of NEW KOREA FOUNDATION INTERNATIONAL is 88-3166362.
- Is NEW KOREA FOUNDATION INTERNATIONAL tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2024.
- Are donations to NEW KOREA FOUNDATION INTERNATIONAL tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEW KOREA FOUNDATION INTERNATIONAL file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEW KOREA FOUNDATION INTERNATIONAL due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW KOREA FOUNDATION INTERNATIONAL last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of NEW KOREA FOUNDATION INTERNATIONAL?
- The 990 for the year ended December 31, 2024 names Kenneth Bae.
- Who are the officers and directors of NEW KOREA FOUNDATION INTERNATIONAL?
- The 990 for the year ended December 31, 2024 lists 5 people; 2 received compensation from the organization, the highest $6,459 (Kelly Sadler, CAO, Office Administrator).
- How much revenue does NEW KOREA FOUNDATION INTERNATIONAL have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $202,881, expenses of $200,895 and total assets of $5,044 at year end.
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