Koreatown Youth and Community Center Inc

Analysis

Koreatown Youth and Community Center Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in December 1982, 44 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 2023, Koreatown Youth and Community Center Inc reported income of $17.2m and spending of $16.2m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $10.1m to $17.2m (+69%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 24%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Koreatown Youth and Community Center Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include Lutheran Social Services of Northern California ($17.2m), The Arc of the Quad Cities Area ($17.2m) and Marbridge Foundation Inc ($17.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $415k (2.6% of expenses). Other salaries and wages came to $8.2m. At year end it held assets of $10.4m against liabilities of $4.1m, net assets of $6.3m. It reported 244 employees.