Korean Art Forum Inc

Analysis

Korean Art Forum Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 2015, 11 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 (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 Art Forum Inc reported income of $175k and spending of $181k, spending 104% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $144k to $175k (+22%), an average of +22% a year. The sharpest change came in the year to December 2023, when income rose by 22%. Over the whole period it spent 98% 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 Art Forum Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Tooele City Arts Council ($175k), Mar-Va Theater Performing Arts Center Inc ($175k) and Project Night Sky ($175k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.2% of the total. At year end it held assets of $37k against liabilities of $0, net assets of $37k.