The Federation of Korean Associations USA

Analysis

The Federation of Korean Associations USA is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in September 2002, 24 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 (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 2024, The Federation of Korean Associations USA reported income of $146k and spending of $181k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2024, income fell from $183k to $146k (-20%), an average of -5.4% a year. The sharpest change came in the year to June 2023, when income rose by 1349%. Over the whole period it spent 121% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Federation of Korean Associations USA sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 46th percentile within VA. Charities of a similar size with the same main cause include Conservatory of Central Illinois ($146k), Los Angeles Contemporary Archive ($146k) and Maple Grove Arts Center ($146k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $9,472 against liabilities of $12k, net assets of -$2,028.