American Korean Friendship Society Inc

Analysis

American Korean Friendship Society Inc is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in April 2016, 10 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 December 2023, American Korean Friendship Society Inc reported income of $51k and spending of $98k, spending 192% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $76k to $51k (-33%), an average of -33% a year. The sharpest change came in the year to December 2023, when income dropped by 33%. Over the whole period it spent 148% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American Korean Friendship Society Inc sits at the 23rd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 21st percentile within GA. Charities of a similar size with the same main cause include Savannahian Publishing ($51k), Core New Art Space ($51k) and New Midwest Chorale Inc ($51k).

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 $49k against liabilities of $0, net assets of $49k.