Korean Literature Society Ofamerica

Analysis

Korean Literature Society Ofamerica is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in February 2009, 17 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Korean Literature Society Ofamerica reported income of $123k and spending of $97k, leaving 21% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $86k to $123k (+44%), an average of +44% a year. The sharpest change came in the year to December 2023, when income rose by 44%. Over the whole period it spent 90% 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 Literature Society Ofamerica sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 45th percentile within CA. Charities of a similar size with the same main cause include Historic Hope Foundation Inc ($123k), Alabama Folklife Association Inc ($123k) and International Society for Ion Mobility Spectrometry Inc ($123k).

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 $26k against liabilities of $0, net assets of $26k.