Korean-American Society of Connecticut

Analysis

Korean-American Society of Connecticut is a registered charity in United States, based in Hamden, CT. It received its IRS tax-exemption ruling in April 2010, 16 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 December 2023, Korean-American Society of Connecticut reported income of $92k and spending of $64k, leaving 30% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $28k to $92k (+225%), an average of +34% a year. The sharpest change came in the year to December 2021, when income rose by 297%. Over the whole period it spent 82% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Korean-American Society of Connecticut sits at the 30th percentile: it is larger than about 30% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 33rd percentile within CT. Charities of a similar size with the same main cause include Minnesota Valley Mothers of Multiples ($92k), Cfbeo Real Estate Inc ($92k) and Chetek Food Shelf Inc ($92k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 20% of the total. At year end it held assets of $693k against liabilities of $0, net assets of $693k.