Korean Festival Committee of Orange County

Analysis

Korean Festival Committee of Orange County is a registered charity in United States, based in Tustin, CA. It received its IRS tax-exemption ruling in September 2022, 4 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Korean Festival Committee of Orange County reported income of $197k and spending of $180k, spending 92% of its income. The sharpest change came in the year to December 2023, when income rose by 121%. Over the whole period it spent 97% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Korean Festival Committee of Orange County sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 56th percentile within CA. Charities of a similar size with the same main cause include Taste for the Homeless ($197k), Fort Payne - Dekalb County E-Center ($197k) and Sme Preservation Fund ($197k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 67% of the total. At year end it held assets of $22k against liabilities of $0, net assets of $22k.