Korean Cultural Center

Analysis

Korean Cultural Center is a registered charity in United States, based in Irvine, CA. It received its IRS tax-exemption ruling in June 2005, 21 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 Cultural Center reported income of $50k and spending of $96k, spending 192% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $44k to $50k (+14%), an average of +14% a year. Over the whole period it spent 193% 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 Cultural Center sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 21st percentile within CA. Charities of a similar size with the same main cause include Monroe Cultural & Heritage Museum Inc ($50k), Tioga Point Museum Assn ($50k) and Grand Rapids Players Inc ($50k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $109k against liabilities of $0, net assets of $109k.