Southern Korean Presbyterian Church
EIN: 562263050 · Charlotte, NC
| Metric | Value |
|---|---|
| Total Revenue | $2.4M |
| Total Expenses | $468K |
| Net Assets | $2.2M |
Is Southern Korean Presbyterian Church Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Southern Korean Presbyterian Church
Southern Korean Presbyterian Church (EIN: 562263050) is a nonprofit organization based in Charlotte, NC. The organization reported total revenue of $2.4M and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southern Korean Presbyterian Church's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Southern Korean Presbyterian Church is a mid-size nonprofit that has been operating for 34 years, with 2 years of IRS 990 filings on record (2022–2023). Revenue has grown at a compound annual rate of 323.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.4M |
| Total Expenses | $468K |
| Surplus / Deficit | +$1.9M |
| Total Assets | $2.3M |
| Total Liabilities | $5K |
| Net Assets | $2.2M |
| Operating Margin | 80.5% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 57.7 months |
Financial Health Grade: A
In 2023, Southern Korean Presbyterian Church reported a surplus of $1.9M with revenue exceeding expenses, holds 57.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 2 years of filings (2022–2023), Southern Korean Presbyterian Church's revenue has grown at a compound annual growth rate (CAGR) of 323.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +323.5% | +5.1% | +3.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 1992 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Southern Korean Presbyterian Church has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Southern Korean Presbyterian Church with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.9M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.2%.
Frequently Asked Questions about Southern Korean Presbyterian Church
Is Southern Korean Presbyterian Church a legitimate charity?
Southern Korean Presbyterian Church (EIN: 562263050) is a registered tax-exempt nonprofit based in North Carolina. It has 2 years of IRS 990 filings on record. Total revenue: $2.4M. No red flags identified. Financial health grade: A.
How does Southern Korean Presbyterian Church spend its money?
Southern Korean Presbyterian Church reported $2.4M in total revenue in IRS 990 filings. 2 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Southern Korean Presbyterian Church tax-deductible?
Southern Korean Presbyterian Church is registered as a tax-exempt nonprofit (EIN: 562263050). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Southern Korean Presbyterian Church located?
Southern Korean Presbyterian Church is headquartered in Charlotte, North Carolina and files with the IRS under EIN 562263050.
How many years of IRS 990 filings does Southern Korean Presbyterian Church have?
Southern Korean Presbyterian Church has 2 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $2.4M in total revenue.
Filing History
IRS 990 filing history for Southern Korean Presbyterian Church showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2022–2023), Southern Korean Presbyterian Church's revenue has grown by 323.5%, moving from $568K to $2.4M. Total assets increased by 3.5% over the same period, from $2.2M to $2.3M. Total functional expenses rose by 5.1%, from $445K to $468K. In its most recent filing year (2023), Southern Korean Presbyterian Church reported a surplus of $1.9M, with revenue exceeding expenses. The organization holds $5K in liabilities against $2.3M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $2.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $468K | $2.3M | $5K | — | View 990 |
| 2022 | $568K | $445K | $2.2M | $1.8M | — | — |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Southern Korean Presbyterian Church:
Data Sources and Methodology
This transparency report for Southern Korean Presbyterian Church is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.