Korean Resource Center Inc

Analysis

Korean Resource Center Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in December 1983, 43 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 December 2023, Korean Resource Center Inc reported income of $1.5m and spending of $1.5m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.8m to $1.5m (-46%), an average of -14% a year. The sharpest change came in the year to December 2023, when income dropped by 26%. Over the whole period it spent 85% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Korean Resource Center Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within CA. Charities of a similar size with the same main cause include McKendree Village Foundation ($1.5m), Kids Win Missouri ($1.5m) and Critter Barn ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 103% and program service revenue 2.2% of the total. Compensation of current officers, directors and key employees was $124k (8.2% of expenses). Other salaries and wages came to $720k. At year end it held assets of $4.6m against liabilities of $2.7m, net assets of $1.9m. It reported 17 employees.