Greater Seattle Korean Association

Analysis

Greater Seattle Korean Association is a registered charity in United States, based in Tukwila, WA. It received its IRS tax-exemption ruling in October 1974, 52 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, Greater Seattle Korean Association reported income of $1.1m and spending of $771k, leaving 32% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $92k to $1.1m (+1139%), an average of +88% a year. The sharpest change came in the year to December 2023, when income rose by 481%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Greater Seattle Korean Association sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within WA. Charities of a similar size with the same main cause include Hand Rehabilitation Foundation ($1.1m), Old Salt Fishing Foundation Inc ($1.1m) and Cinema St Louis ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 5.2% of the total. At year end it held assets of $1.0m against liabilities of $308k, net assets of $738k.