Korean American Association of Greater Philadelphia Inc

Analysis

Korean American Association of Greater Philadelphia Inc is a registered charity in United States, based in Elkins Park, PA. It received its IRS tax-exemption ruling in June 1990, 36 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 Association of Greater Philadelphia Inc reported income of $69k and spending of $71k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $109k to $69k (-36%), an average of -11% a year. The sharpest change came in the year to December 2023, when income dropped by 48%. Over the whole period it spent 103% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Korean American Association of Greater Philadelphia Inc sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 25th percentile within PA. Charities of a similar size with the same main cause include Itmann Food Bank ($69k), Springville Senior Citizens Organization ($69k) and Redbird ($69k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% of the total. Other salaries and wages came to $10k. At year end it held assets of $316k against liabilities of $60k, net assets of $256k.