T Ai Chi Foundation Inc
- Assets
- $216.4k
- Revenue
- $164.8k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 03/1982
- Data as of
- 12/2022
- EIN
- 13-3016452
Organization Overview
T Ai Chi Foundation Inc is located in New York, NY. The organization was established in 1982. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. T Ai Chi Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, T Ai Chi Foundation Inc generated $164.8k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $202.7k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE TRAINING AND INSTRUCTION FOR STUDENTS AND TEACHERS AND TO SET UP AND MAINTAIN A PROGRAM FOR CERTIFICATION OF T'AI CHI INSTRUCTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
T'AI CHI FOUNDATION PROVIDED TRAINING AND INSTRUCTION FOR STUDENTS AND TEACHERS AND SET UP A PROGRAM FOR CERTIFICATION OF T'AI CHI INSTRUCTORS. IN SUPPORT OF THIS PROGRAM, T'AI CHI FOUNDATION RECEIVED IN-KIND CONTRIBUTIONS OF ADVERTISING SERVICES IN THE AMOUNT OF $264,513 IN ADDITION TO OTHER CASH CONTRIBUTIONS REPORT IN THIS FILING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Penny Harrison Foundation Administrator | Officer | 20 | $36,000 |
Margaret Olmstead Legacy Holder | Officer | 4 | $5,000 |
Steve Shulman Treasurer | Officer | 4 | $4,500 |
Robert Etherington Director | Trustee | 4 | $875 |
Anne Smyers Director | Trustee | 4 | $800 |
Peter Kennedy Secretary | Officer | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $27,610 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $20,651 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $48,261 |
| Total Program Service Revenue | $99,164 |
| Investment income | $25 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $15,425 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,923 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $164,798 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,722 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $47,175 |
| Compensation of current officers, directors, key employees. | $42,275 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,699 |
| Advertising and promotion | $6,490 |
| Office expenses | $0 |
| Information technology | $33,779 |
| Royalties | $0 |
| Occupancy | $24,935 |
| Travel | $3,530 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,073 |
| All other expenses | $17,651 |
| Total functional expenses | $202,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,698 |
| Savings and temporary cash investments | $96,187 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,020 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,294 |
| Prepaid expenses and deferred charges | $3,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,197 |
| Total assets | $216,396 |
| Accounts payable and accrued expenses | $10,723 |
| Grants payable | $0 |
| Deferred revenue | $12,590 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $23,313 |
| Net assets without donor restrictions | $193,083 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $216,396 |