Korean Gospel Broadcasting Network

Analysis

Korean Gospel Broadcasting Network is a registered charity in United States, based in Anaheim, CA. It received its IRS tax-exemption ruling in February 2022, 4 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Gospel Broadcasting Network reported income of $513k and spending of $1.4m, spending 267% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $743k to $513k (-31%), an average of -8.8% a year. The sharpest change came in the year to December 2021, when income rose by 70%. Over the whole period it spent 194% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Korean Gospel Broadcasting Network sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 72nd percentile within CA. Charities of a similar size with the same main cause include Iglesia de Dios Fuente de Los Milagros ($513k), Ohio Recreation and Education Foundation Inc ($513k) and Every Man Ministries Inc ($513k).

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 $11k. At year end it held assets of $1.9m against liabilities of $1.3m, net assets of $613k.

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.