Los Angeles Korean Musicians Association

Analysis

Los Angeles Korean Musicians Association is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in August 2016, 10 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 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 2022, Los Angeles Korean Musicians Association reported income of $216k and spending of $214k, spending 99% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $172k to $216k (+26%), an average of +8.0% a year. The sharpest change came in the year to December 2021, when income rose by 398%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Los Angeles Korean Musicians Association sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 58th percentile within CA. Charities of a similar size with the same main cause include Orange County Current Affairs Forum ($216k), Arts Power Inc ($216k) and Museum Association of the American Frontier ($216k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $4,856 against liabilities of $0, net assets of $4,856.