Federation of Korean American Associations of NW States USA

Analysis

Federation of Korean American Associations of NW States USA is a registered charity in United States, based in Lynnwood, WA. It received its IRS tax-exemption ruling in January 2015, 11 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Federation of Korean American Associations of NW States USA reported income of $93k and spending of $126k, spending 135% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $66k to $93k (+42%), an average of +42% a year. The sharpest change came in the year to December 2023, when income rose by 42%. Over the whole period it spent 100% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Federation of Korean American Associations of NW States USA sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 30th percentile within WA. Charities of a similar size with the same main cause include First City of Lights Foundation ($93k), Highlands Foundation ($93k) and Friends of the Fremont County Fair ($93k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $5,730 against liabilities of $0, net assets of $5,730.