Southern Korean Presbyterian Church

Analysis

Southern Korean Presbyterian Church is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in April 1992, 34 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Southern Korean Presbyterian Church reported income of $2.4m and spending of $468k, leaving 81% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $568k to $2.4m (+324%), an average of +324% a year. The sharpest change came in the year to December 2023, when income rose by 324%. Over the whole period it spent 31% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Southern Korean Presbyterian Church sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NC. Charities of a similar size with the same main cause include L M N Publishing International Inc ($2.4m), Dearborn Heights Montessori Center Inc ($2.4m) and Congregation of the Sisters of St Joseph Ministries Inc ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $75k (16% of expenses). At year end it held assets of $2.3m against liabilities of $5,334, net assets of $2.2m. It reported 3 employees.