Arirang Housing Inc

Analysis

Arirang Housing Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in May 1991, 35 years ago. 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 June 2022, Arirang Housing Inc reported income of $474k and spending of $724k, spending 153% of what it took in. Across the 4 years on record, from June 2019 to June 2022, income fell from $477k to $474k (-0.6%), an average of -0.2% a year. Over the whole period it spent 146% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Arirang Housing Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 71st percentile within CA. Charities of a similar size with the same main cause include Kids Advancing Hope Coalition ($474k), The Rapid City Public School Foundation Inc ($474k) and National Church Residences ($474k).

On its Form 990 for the period ending June 2022, revenue came from program service revenue 100% of the total. Other salaries and wages came to $97k. At year end it held assets of $4.7m against liabilities of $10.2m, net assets of -$5.6m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.