Palolo Korean Care Home Inc

Analysis

Palolo Korean Care Home Inc is a registered charity in United States, based in Honolulu, HI. It received its IRS tax-exemption ruling in February 2016, 10 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Palolo Korean Care Home Inc reported income of $725k and spending of $307k, leaving 58% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3,840 to $725k (+18779%), an average of +271% a year. The sharpest change came in the year to December 2021, when income rose by 10091%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Palolo Korean Care Home Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within HI. Charities of a similar size with the same main cause include First Step a Response to Domestic Violence Inc ($725k), North Ridgeville Community Care Inc ($725k) and Northside Community Involvement Inc ($725k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $750 (0.2% of expenses). Other salaries and wages came to $177k. At year end it held assets of $6.7m against liabilities of $6.3m, net assets of $362k. It reported 8 employees.