Sejong Cultural Education Inc

Analysis

Sejong Cultural Education Inc is a registered charity in United States, based in Palisades Park, NJ. It received its IRS tax-exemption ruling in May 1994, 32 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 September 2023, Sejong Cultural Education Inc reported income of $100k and spending of $117k, spending 117% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $232k to $100k (-57%), an average of -19% a year. The sharpest change came in the year to September 2020, when income dropped by 60%. Over the whole period it spent 111% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Sejong Cultural Education Inc sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 44th percentile within NJ. Charities of a similar size with the same main cause include Town of Newburgh Youth Football ($100k), United States Bowling Congress Inc ($100k) and North Polk United Soccer Club ($100k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.9% and program service revenue 97% of the total. At year end it held assets of $40k against liabilities of $723, net assets of $39k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.