Korean Center Incorporated

Analysis

Korean Center Incorporated is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in December 1975, 51 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2022, Korean Center Incorporated reported income of $582k and spending of $430k, leaving 26% of income unspent that year. Across the 4 years on record, from June 2019 to June 2022, income grew from $268k to $582k (+117%), an average of +30% a year. The sharpest change came in the year to June 2020, when income rose by 78%. Over the whole period it spent 86% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Korean Center Incorporated sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 74th percentile within CA. Charities of a similar size with the same main cause include Broken Wings Ministry Inc ($582k), Triumph Services Inc ($582k) and Milford Food Bank Inc ($582k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 24% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $92k (21% of expenses). Other salaries and wages came to $151k. At year end it held assets of $803k against liabilities of $23k, net assets of $779k. It reported 12 employees.