Korean National Association Memorial Foundation

Analysis

Korean National Association Memorial Foundation is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in January 2004, 22 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Korean National Association Memorial Foundation reported income of $90k and spending of $90k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $67k to $90k (+35%), an average of +7.7% a year. The sharpest change came in the year to December 2021, when income rose by 56%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Korean National Association Memorial Foundation sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 36th percentile within CA. Charities of a similar size with the same main cause include Friends of City Reliquaryincorporated ($90k), Candelas Music and Arts Foundation ($90k) and Ballet Theatre South Inc ($90k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $1,843 against liabilities of $0, net assets of $1,843.