Korean Institute of Minnesota

Analysis

Korean Institute of Minnesota is a registered charity in United States, based in Golden Valley, MN. It received its IRS tax-exemption ruling in February 1979, 47 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2024, Korean Institute of Minnesota reported income of $80k and spending of $75k, spending 94% of its income. Across the 2 years on record, from August 2023 to August 2024, income grew from $68k to $80k (+18%), an average of +18% a year. The sharpest change came in the year to August 2024, when income rose by 18%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Korean Institute of Minnesota sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 28th percentile within MN. Charities of a similar size with the same main cause include Monroe Actors Stage Company ($80k), Oakland Heritage Community Foundation Inc ($80k) and Hawaiian Legacy Foundation ($80k).

On its Form 990-EZ for the period ending August 2024, revenue came from contributions and grants 36% and program service revenue 64% of the total. At year end it held assets of $147k against liabilities of $33k, net assets of $115k.