Korean American Association of Greater New York Inc

Analysis

Korean American Association of Greater New York Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1983, 43 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 April 2024, Korean American Association of Greater New York Inc reported income of $439k and spending of $447k, spending 102% of its income. Across the 6 years on record, from April 2019 to April 2024, income grew from $421k to $439k (+4.3%), an average of +0.8% a year. The sharpest change came in the year to April 2021, when income rose by 323%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Korean American Association of Greater New York Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 64th percentile within NY. Charities of a similar size with the same main cause include Learning Through Art ($439k), Vallejo Senior Citizens Council ($439k) and National Church Residences of ($439k).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 114% and program service revenue 4.7% of the total. Other salaries and wages came to $23k. At year end it held assets of $620k against liabilities of $110k, net assets of $510k. It reported 1 employees.

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.