Korean CBMC of North America

Analysis

Korean CBMC of North America is a registered charity in United States, based in Carrollton, TX. It received its IRS tax-exemption ruling in February 2013, 13 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 CBMC of North America reported income of $511k and spending of $530k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $396k to $511k (+29%), an average of +6.6% a year. The sharpest change came in the year to December 2022, when income rose by 93%. Over the whole period it spent 93% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Korean CBMC of North America sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 75th percentile within TX. Charities of a similar size with the same main cause include Ceifa Ministry International ($511k), International Tribal Ministries Inc ($512k) and Ember Foundation ($511k).

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 $125k. At year end it held assets of $237k against liabilities of -$1,870, net assets of $239k. It reported 3 employees.