KOREAN RESOURCE CENTER INC
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$805,211
Government Grants
42%
Contributions
37%
Other
11%
Program Services
7%
Membership Dues
3%
Fundraising Events
0%
Investments
0%
Expenses in 2024
$1,060,186
Salaries & Benefits
59%
Fees to Service Providers
13%
Offices, Occupancy & IT
12%
Other
11%
Interest
5%
Depreciation
<1%
Grants
0%
Benefits to Members
0%
Advertising & Promotion
0%
Revenues
2023
2024
Change
Contributions
$1,308,587
$296,001
-77%
Government Grants
$259,481
$341,375
+32%
Fundraising Events
$0
$0
-
Program Services
$33,301
$58,309
+75%
Membership Dues
$16,099
$21,095
+31%
Investments
$6,101
$0
-100%
Other
-$79,646
$88,431
-211%
Total Revenues
$1,543,923
$805,211
-48%
Expenses
2023
2024
Change
Grants
$0
$0
-
Benefits to Members
$0
$0
-
Salaries & Benefits
$977,131
$624,183
-36%
Fees to Service Providers
$163,157
$136,205
-17%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$156,469
$128,930
-18%
Interest
$42,097
$53,801
+28%
Depreciation
$5,687
$966
-83%
Other
$164,234
$116,101
-29%
Total Expenses
$1,508,775
$1,060,186
-30%
Net income
2023
2024
Change
Net income
+$35,148
-$254,975
-825%
Functional Expenses
Summary
2023
2024
Change
Program
$1,222,336
$869,638
-29%
Admin
$229,127
$151,546
-34%
Fundraising
$57,312
$39,002
-32%
Total Expenses
$1,508,775
$1,060,186
-30%
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