SK Foundation USA Inc

Analysis

SK Foundation USA Inc is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in May 2020, 6 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, SK Foundation USA Inc reported income of $5.3m and spending of $768k, leaving 86% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income fell from $6.2m to $5.3m (-14%), an average of -7.2% a year. The sharpest change came in the year to December 2023, when income rose by 529734%. Over the whole period it spent 22% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, SK Foundation USA Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within TN. Charities of a similar size with the same main cause include Foothill-De Anza Community Colleges Foundation ($5.3m), Pretty in Pink Foundation Inc ($5.3m) and Rosemoor Foundation Inc ($5.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $10.0m against liabilities of $15k, net assets of $9.9m.