Wa Sung Charity Fund

Analysis

Wa Sung Charity Fund is a registered charity in United States, based in Oakland, CA. It received its IRS tax-exemption ruling in July 1968, 58 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 December 2023, Wa Sung Charity Fund reported income of $54k and spending of $25k, leaving 53% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $70k to $54k (-24%), an average of -6.5% a year. The sharpest change came in the year to December 2022, when income rose by 251%. Over the whole period it spent 35% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Wa Sung Charity Fund sits at the 20th percentile: it is larger than about 20% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 23rd percentile within CA. Charities of a similar size with the same main cause include Southern Christian Mission Inc ($54k), Friends of the Highland Park Public Library Inc ($54k) and Edwardsburg Band Boosters ($54k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 231% and program service revenue 42% of the total. At year end it held assets of $1.5m against liabilities of $0, net assets of $1.5m.