Korean Community Service Center

Analysis

Korean Community Service Center is a registered charity in United States, based in Edmonds, WA. It received its IRS tax-exemption ruling in November 2010, 16 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Korean Community Service Center reported income of $1.5m and spending of $1.3m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $313k to $1.5m (+386%), an average of +48% a year. The sharpest change came in the year to December 2020, when income rose by 164%. Over the whole period it spent 87% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Korean Community Service Center sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within WA. Charities of a similar size with the same main cause include Austin Revitalization Authority ($1.5m), 75 Spruce Street Development ($1.5m) and Cape & Islands Community Development Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $656k. At year end it held assets of $741k against liabilities of $141k, net assets of $600k. It reported 19 employees.