Praise Korean Cultural Community Center

Analysis

Praise Korean Cultural Community Center is a registered charity in United States, based in Somerset, NJ. It received its IRS tax-exemption ruling in January 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Praise Korean Cultural Community Center reported income of $132k and spending of $146k, spending 110% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $136k to $132k (-2.8%), an average of -2.8% a year. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Praise Korean Cultural Community Center 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 44th percentile, and in the 52nd percentile within NJ. Charities of a similar size with the same main cause include Union Football Booster Club ($132k), Clairemont High School Foundation Inc ($132k) and Bethel Theological Seminary Inc ($132k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 61% of the total. At year end it held assets of $27k against liabilities of $0, net assets of $27k.