Hanmee Presbyterian Church

Analysis

Hanmee Presbyterian Church is a registered charity in United States, based in Itasca, IL. It received its IRS tax-exemption ruling in July 2000, 26 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 2023, Hanmee Presbyterian Church reported income of $977k and spending of $1.1m, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $977k (-17%), an average of -4.6% a year. The sharpest change came in the year to December 2021, when income dropped by 36%. Over the whole period it spent 99% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Hanmee Presbyterian Church sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within IL. Charities of a similar size with the same main cause include Guru Nanak Mission ($976k), Casa de Luz ($977k) and Darul Huda Corp ($976k).

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 $278k. At year end it held assets of $5.1m against liabilities of $1.2m, net assets of $3.9m.

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.