Grace Korean Church Inc

Analysis

Grace Korean Church Inc is a registered charity in United States, based in Peachtree Cor, GA. It received its IRS tax-exemption ruling in December 2018, 8 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Grace Korean Church Inc reported income of $402k and spending of $434k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $559k to $402k (-28%), an average of -7.9% a year. The sharpest change came in the year to December 2023, when income dropped by 34%. Over the whole period it spent 87% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Grace Korean Church Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 71st percentile within GA. Charities of a similar size with the same main cause include District Council Treasure Couast ($402k), Three Saints Inc ($402k) and Solid Foundation Generation Inc ($402k).

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 $32k (7.4% of expenses). Other salaries and wages came to $61k. At year end it held assets of $2.0m against liabilities of $1.4m, net assets of $605k. It reported 3 employees.