The Korean American Scholarship Foundation

Analysis

The Korean American Scholarship Foundation is a registered charity in United States, based in Tysons Corner, VA. It received its IRS tax-exemption ruling in January 1972, 54 years ago. 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, The Korean American Scholarship Foundation reported income of $725k and spending of $1.1m, spending 150% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $725k (-39%), an average of -12% a year. The sharpest change came in the year to December 2023, when income dropped by 47%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Korean American Scholarship Foundation sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Animal Welfare League of Kosciusko County Inc ($725k), Dalhart Area Child Care Center Inc ($725k) and A Network for Grateful Living Inc ($725k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $100k (9.2% of expenses). At year end it held assets of $5.9m against liabilities of $0, net assets of $5.9m.