Korean Community Center

Analysis

Korean Community Center is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in December 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 2023, Korean Community Center reported income of $578k and spending of $739k, spending 128% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.5m to $578k (-61%), an average of -21% a year. The sharpest change came in the year to December 2023, when income rose by 106%. Over the whole period it spent 136% 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 Community Center sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within VA. Charities of a similar size with the same main cause include Puget Sound Guitar Workshop ($578k), Data for Black Lives Inc ($578k) and About Face Theatre Collective ($578k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% of the total. At year end it held assets of $4.4m against liabilities of $1.8m, net assets of $2.6m.