Korean American Family Services Inc

Analysis

Korean American Family Services Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in May 1984, 42 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, Korean American Family Services Inc reported income of $7.7m and spending of $6.5m, spending 84% of its income. Across the 5 years on record, from December 2019 to June 2023, income grew from $6.2m to $7.7m (+24%), an average of +5.5% a year. The sharpest change came in the year to June 2022, when income rose by 88%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Korean American Family Services Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Roads to Success Inc ($7.7m), Father Maloneys Boys Haven Inc ($7.7m) and Seasons Hospice Inc ($7.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% and program service revenue 1.3% of the total. Compensation of current officers, directors and key employees was $152k (2.3% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $5.3m against liabilities of $1.5m, net assets of $3.8m. It reported 48 employees.