Korean War Memorial Society

Analysis

Korean War Memorial Society is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in December 2019, 7 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Korean War Memorial Society reported income of $63k and spending of $54k, spending 86% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $28k to $63k (+124%), an average of +124% a year. The sharpest change came in the year to December 2023, when income rose by 124%. Over the whole period it spent 166% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Korean War Memorial Society sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 27th percentile within CA. Charities of a similar size with the same main cause include Marine Studies Consortium ($63k), Redlands Theatre Festival Inc ($63k) and Dance Inc ($63k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $12k against liabilities of $0, net assets of $12k.