Korean Community Services of Metropolitan New York Inc

Analysis

Korean Community Services of Metropolitan New York Inc is a registered charity in United States, based in Bayside, NY. It received its IRS tax-exemption ruling in July 1974, 52 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Korean Community Services of Metropolitan New York Inc reported income of $10.8m and spending of $10.8m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.6m to $10.8m (+64%), an average of +13% a year. The sharpest change came in the year to June 2022, when income rose by 32%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Korean Community Services of Metropolitan New York Inc sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 93rd percentile within NY. Charities of a similar size with the same main cause include Unique People Services AIDS Programs Inc ($10.8m), Regional Economic Community Action Program Inc ($10.9m) and Aim B Yisroel Inc ($10.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $146k (1.4% of expenses). Other salaries and wages came to $5.6m. At year end it held assets of $15.0m against liabilities of $6.0m, net assets of $9.0m. It reported 208 employees.