Korean American Center

Analysis

Korean American Center is a registered charity in United States, based in Irvine, CA. It received its IRS tax-exemption ruling in October 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 American Center reported income of $644k and spending of $553k, spending 86% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $200k to $644k (+223%), an average of +223% a year. The sharpest change came in the year to December 2023, when income rose by 223%. Over the whole period it spent 89% 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 American Center sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 75th percentile within CA. Charities of a similar size with the same main cause include Saturday in the Park Inc ($644k), National Museum of Polo and Hall of Fame ($644k) and Pied Piper Players Inc ($644k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $59k (11% of expenses). Other salaries and wages came to $319k. At year end it held assets of $92k against liabilities of $0, net assets of $92k. It reported 19 employees.