The Korean-American Family Service Center Inc

Analysis

The Korean-American Family Service Center Inc is a registered charity in United States, based in Flushing, NY. It received its IRS tax-exemption ruling in February 1992, 34 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, The Korean-American Family Service Center Inc reported income of $4.4m and spending of $3.1m, leaving 29% of income unspent that year. Across the 6 years on record, from September 2018 to September 2023, income grew from $2.9m to $4.4m (+52%), an average of +8.8% a year. The sharpest change came in the year to September 2022, when income rose by 58%. Over the whole period it spent 78% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, The Korean-American Family Service Center Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Community Services of Broomfield Inc ($4.4m), Positive Alternatives Inc ($4.4m) and University Settlement Inc ($4.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 55% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $270k (8.6% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $8.0m against liabilities of $844k, net assets of $7.1m. It reported 94 employees.