Korean American Association and Community Center of Houston

Analysis

Korean American Association and Community Center of Houston is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in April 1983, 43 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Korean American Association and Community Center of Houston reported income of $280k and spending of $318k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $308k to $280k (-9.3%), an average of -2.4% a year. The sharpest change came in the year to December 2021, when income dropped by 20%. Over the whole period it spent 99% 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 American Association and Community Center of Houston sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 65th percentile within TX. Charities of a similar size with the same main cause include Chopin Theatre Productions NFP ($280k), Watauga Valley Railroad Historical Society & Museum Inc ($280k) and Watercolor Art Society-Houston ($280k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $9,225 (2.9% of expenses). Other salaries and wages came to $49k. At year end it held assets of $1.2m against liabilities of $4,696, net assets of $1.2m. It reported 14 employees.