Korean School of Federal Way

Analysis

Korean School of Federal Way is a registered charity in United States, based in Federal Way, WA. It received its IRS tax-exemption ruling in March 2020, 6 years ago. Its declared purposes cover education, which this site groups under education and training. 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 School of Federal Way reported income of $181k and spending of $119k, leaving 34% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $480k to $181k (-62%), an average of -28% a year. The sharpest change came in the year to December 2021, when income dropped by 75%. Over the whole period it spent 46% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Korean School of Federal Way sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 48th percentile within WA. Charities of a similar size with the same main cause include Fields of Joy Foundation Inc ($181k), Fire Mountain School ($181k) and Association of Collegiate Educators in Radiologic Technology ($181k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% and program service revenue 42% of the total. Other salaries and wages came to $49k. At year end it held assets of $501k against liabilities of $0, net assets of $501k. It reported 16 employees.