Korean Martial Arts Culture & Education Foundation Inc

Analysis

Korean Martial Arts Culture & Education Foundation Inc is a registered charity in United States, based in Mount Gilead, OH. It received its IRS tax-exemption ruling in August 2018, 8 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 2022, Korean Martial Arts Culture & Education Foundation Inc reported income of $145k and spending of $61k, leaving 58% of income unspent that year. Across the 3 years on record, from December 2020 to December 2022, income fell from $1.3m to $145k (-89%), an average of -67% a year. The sharpest change came in the year to December 2021, when income rose by 239%. Over the whole period it spent 94% 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 Martial Arts Culture & Education Foundation Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 47th percentile within OH. Charities of a similar size with the same main cause include Liberated Ethnic Studies Model Curriculum Consortium ($145k), Banda Escolar Sum Guayanilla Inc ($145k) and Archer County Museum & Arts Center Inc ($145k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 87% of the total. Compensation of current officers, directors and key employees was $3,846 (6.3% of expenses). At year end it held assets of $474k against liabilities of $50k, net assets of $424k. It reported 2 employees.