Korean Gospel Broadcasting Company Inc

Analysis

Korean Gospel Broadcasting Company Inc is a registered charity in United States, based in Anaheim, CA. It received its IRS tax-exemption ruling in December 1997, 29 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 Company Inc reported income of $1.7m and spending of $1.7m, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.9m to $1.7m (-11%), an average of -3.0% a year. The sharpest change came in the year to December 2021, when income dropped by 27%. Over the whole period it spent 95% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Korean Gospel Broadcasting Company Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include Christ Commission Chapel ($1.7m), Missions Ministries ($1.7m) and Jewish Studio Project ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% of the total. Compensation of current officers, directors and key employees was $51k (2.9% of expenses). Other salaries and wages came to $670k. At year end it held assets of $5.5m against liabilities of $2.7m, net assets of $2.9m. It reported 21 employees.

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.