Morning Star Korean Culture Center Inc

Analysis

Morning Star Korean Culture Center Inc is a registered charity in United States, based in Lynnwood, WA. It received its IRS tax-exemption ruling in September 2024, 2 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, Morning Star Korean Culture Center Inc reported income of $282k and spending of $151k, leaving 47% of income unspent that year. Across the 3 years on record, from December 2019 to December 2023, income grew from $120k to $282k (+136%), an average of +54% a year. The sharpest change came in the year to December 2021, when income rose by 78%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Morning Star Korean Culture Center Inc sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 58th percentile within WA. Charities of a similar size with the same main cause include Ov-10 Bronco Association Inc ($282k), Developing Connections Northeast Ohio ($282k) and Gig Harbor Film Festival ($282k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% of the total. At year end it held assets of $3.3m against liabilities of $98k, net assets of $3.2m.