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PeerBasis
Compensation Comparability Determination

Korean Register Of Shipping Inc

Executive Director / CEO

EIN 061296306
NJ · NTEE M99Z
FY ending 2024-12-31
June 9, 2026

This analysis benchmarks the total compensation of Kilcheon Seo, Executive Director / CEO ($30,000) against every comparable organization that fit the selection criteria — 16 in total — drawn systematically from IRS Form 990 filings, not a hand-picked subset.

Compensation sits at approximately the 38th percentile of comparable organizationswithin the typical range

Benchmarked executive: Kilcheon Seo — reported title “PRESIDENT”, a direct title match to the Executive Director / CEO role.

How comparable organizations were selected

16 organizations qualified on sector, size, and geography 16 within the band form the benchmarked peer set.

Distribution of comparable compensation

$115 total compensation of comparable organizations → $167,290 $30,000
$1,10710th
$11,68325th
$46,833Median
$65,03775th
$91,38190th
$30,000This org · 38th
p10$1,107
p25$11,683
p50$46,833
p75$65,037
p90$91,381
$30,000

Comparable organizations

Each figure is Form 990 Part VII columns D + F (reportable pay plus other compensation and benefits; column F may include amounts from related organizations), normalized to NJ cost of living (BEA RPP, 2023) and to its filing year (CPI-U); the reported amount is on each linked 990.

OrganizationStateRevenueMatched titleComp
(reported)
Comp
(adjusted)
FY
California Fire Prevention Organization CA$266,567 Board Member General Manager $30,500 $30,369 2023
Greensboro Police Foundation NC$282,325 Executive Director $37,084 $42,917 2024
Architects & Engineers For 911 CA$229,874 Director Of Operations $54,000 $53,768 2023
Phelps Ambulance Inc NY$302,708 Board Member $48,704 $50,749 2023
Florida Association Of School Safety FL$310,442 Chief Executive Officer $58,263 $63,114 2023
Blounts Creek Volunteer Fire Dept NC$217,685 Chief $3,000 $3,383 2025
Loyal Unified Fire & Ambulance Service Inc WI$205,530 Fire Chief $1,420 $1,661 2024
Safer Institute RI$202,500 President/exec. Dir. $155,769 $167,290 2024
Citizens Fire Company No 1 Of Weatherly Pa PA$191,735 Financial Secretary $100 $115 2023
Zumbro Falls Fire Department MN$190,109 Treasurer $500 $553 2024
The William Averette Anderson Fund MD$187,716 Executive Dir. $76,811 $80,430 2024
Dade County Firefighters Benevolent Association Inc FL$365,120 President/director $13,339 $14,450 2023
Huntington Beach Police And CA$375,529 Executive Di $73,160 $70,756 2024
Conch Republic Marine Army FL$389,491 President $60,000 $63,130 2024
Permian Road Safety Coalition TX$393,416 Executive Director $88,718 $102,332 2023
Damascus Fire Dept Inc OH$394,995 Trustee-at-l $12,735 $14,718 2025

Comp (reported) is the figure on each organization's Form 990 (columns D + F); Comp (adjusted) normalizes it to NJ cost of living and 2024 dollars. Click any organization to verify the figure on ProPublica.

Methodology

Comparable organizations were drawn from electronically filed IRS Form 990 returns and matched on sector (NTEE code), budget (a size-adaptive revenue band that tightens as the organization grows), and geography (same-state first, broadening only when too few peers qualify); every organization within the band forms the peer set. To compare fairly across regions and years, peer compensation is normalized to NJ cost of living (BEA Regional Price Parities, 2023) and to the subject's filing year (CPI-U). The figure benchmarked is Form 990 Part VII, Section A, columns D + F — reportable pay plus other compensation, benefits, and deferred amounts (column F may include amounts from related organizations) — with the chief executive matched by role. Related-organization amounts (column E) and institutional trustees are excluded. Full methodology: peerbasis.org/methodology.

Sample, role match & sensitivity

Sensitivity — the subject's percentile under alternative compensation definitions:

BasisSubject percentile
Total compensation (D + F), cost-of-living + inflation adjusted — the PeerBasis default38th
Total compensation (D + F), as reported (no adjustments)38th
Reportable pay only (column D), adjusted44th
All sources (D + E + F), adjusted38th

If the percentile moves materially across these definitions, the result is sensitive to methodology choices, and the board should weigh which basis best fits its facts.

Rebuttable presumption of reasonableness · 26 CFR 53.4958-6

Compensation paid by a tax-exempt organization is presumed reasonable — shifting the burden to the IRS — when three requirements are met. This report supplies the comparability data for the second. The board should record the following in its minutes concurrently with its decision:

Draft board minutes — executive compensation

  1. The compensation of the Executive Director / CEO (Kilcheon Seo) was approved in advance by [the Board / Compensation Committee], composed of members with no conflict of interest with respect to the arrangement.
  2. Prior to its determination, the authorized body obtained and relied upon appropriate comparability data, namely the PeerBasis Compensation Comparability Determination dated June 9, 2026, comparing compensation against 16 similarly situated organizations (Same NTEE sector (M99), nationwide + budget 0.67–1.5× revenue).
  3. The authorized body determined that total compensation of $30,000 is reasonable (approximately the 38th percentile of comparable organizations) and documented the basis for this determination concurrently, on [date], by a vote of [__ for / __ against].

Sources: IRS Form 990 e-file data (apps.irs.gov); IRS Business Master File (NTEE classification). Every figure traces to an original public filing — click any organization above to verify it on ProPublica. PeerBasis is a service of Prismind Analytics; its methodology is published, was commissioned for independent adversarial review, and discloses its own limitations. This report is comparability data to support a board's good-faith determination under IRC 4958; it is not legal or tax advice. Generated by PeerBasis on June 9, 2026.