Korean Perfoming Arts Institute of Chicago

Analysis

Korean Perfoming Arts Institute of Chicago is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 2014, 12 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 2023, Korean Perfoming Arts Institute of Chicago reported income of $476k and spending of $475k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $301k to $476k (+58%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 54%. Over the whole period it spent 96% 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 Perfoming Arts Institute of Chicago sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 69th percentile within IL. Charities of a similar size with the same main cause include Roanoke Childrens Theatre Inc ($476k), Tulsa Girls Art School Project Inc ($476k) and California Ocean Alliance ($476k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 30% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $207k (44% of expenses). At year end it held assets of $185k against liabilities of $181k, net assets of $3,661. It reported 8 employees.