Korean American Community Services Inc

Analysis

Korean American Community Services Inc is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in May 1980, 46 years ago. 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 June 2024, Korean American Community Services Inc reported income of $860k and spending of $805k, spending 94% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $608k to $860k (+41%), an average of +9.0% a year. The sharpest change came in the year to June 2022, when income rose by 35%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Korean American Community Services Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 79th percentile within CA. Charities of a similar size with the same main cause include Western Allegheny Community Library ($859k), Veterans Honor Flight of ND MN ($860k) and Cherished Impressions Child Placing Agency ($859k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $65k (8.1% of expenses). Other salaries and wages came to $249k. At year end it held assets of $1.2m against liabilities of $4,610, net assets of $1.2m. It reported 7 employees.