Miracle Land Korean Baptist Church

Analysis

Miracle Land Korean Baptist Church is a registered charity in United States, based in Cypress, CA. It received its IRS tax-exemption ruling in August 1964, 62 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Miracle Land Korean Baptist Church reported income of $1.8m and spending of $1.7m, spending 92% of its income. Across the 3 years on record, from December 2019 to December 2022, income grew from $1.7m to $1.8m (+8.2%), an average of +4.0% a year. The sharpest change came in the year to December 2022, when income rose by 71%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Miracle Land Korean Baptist Church 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 85th percentile, and in the 86th percentile within CA. Charities of a similar size with the same main cause include Ashtabula County Family YMCA ($1.8m), Partners for Affordable Housing ($1.8m) and A Better Wisconsin Together Institute Inc ($1.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 48% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $78k (4.6% of expenses). Other salaries and wages came to $424k. At year end it held assets of $2.6m against liabilities of $0, net assets of $2.6m. It reported 17 employees.