World Tang Soo Do Foundation
- Assets
- $3.9m
- Revenue
- $44.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Burlington, NC
- Founding
- 06/2014
- Data as of
- 12/2021
- EIN
- 42-1541371
Organization Overview
World Tang Soo Do Foundation is located in Burlington, NC. The organization was established in 2014. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. World Tang Soo Do Foundation 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 12/2021, World Tang Soo Do Foundation generated $44.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (21.0%) each year. All expenses for the organization totaled $54.9k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
NURTURE EDUCATIONAL GROWTH AND PROMOTE A POSITIVE INFLUENCE IN OUR COMMUNITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, SCHOLARSHIPS WERE AWARDED TO 17 INDIVIDUALS WHO DEMONSTRATED A HIGH LEVEL OF ACADEMIC PERFORMANCE, STRONG LEADERSHIP QUALITIES, A HISTORY OF SERVING OTHERS THROUGH VOLUNTEERISM AND AN ONGOING COMMITMENT TO UNDERSTANDING THE LIFELONG BENEFITS OF TRAINING IN TANG SOO DO. SCHOLARSHIPS WERE ALSO AWARDED TO 7 INDIVIDUALS WHO DEMONSTRATED A NEED FOR FINANCIAL AID TO CONTINUE THEIR STUDIES IN TANG SOO DO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gideon Lee Coo/chief Of Staff | OfficerTrustee | 1 | $0 |
William Strong Ceo/president | OfficerTrustee | 1 | $0 |
Sanford Lipstein Cfo/treasurer | OfficerTrustee | 1 | $0 |
Barbara Bellini Chair, Building Fund Committee | Trustee | 1 | $0 |
Michael Molinaro Chair, Scholarship Committee | Trustee | 1 | $0 |
Kristen Winsko Chair, Legal Affairs Committee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $89,270 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,270 |
| Total Program Service Revenue | $0 |
| Investment income | $58 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$45,926 |
| 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 | $941 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,343 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $43,672 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $441 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,228 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $7,122 |
| Insurance | $0 |
| All other expenses | $425 |
| Total functional expenses | $54,888 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,190 |
| Savings and temporary cash investments | $601,858 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $102,167 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,994,266 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $44,200 |
| Total assets | $3,885,681 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $3,745,491 |
| Net assets with donor restrictions | $140,190 |
| 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 | $3,885,681 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that World Tang Soo Do Foundation has recieved totaling $138.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $138 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Medical Group Association Inc Alexandria, VA | $19,689,445 | $10,462,815 |
Disability In Alexandria, VA | $11,237,053 | $8,690,736 |
Waccamaw Community Foundation Inc Murrells Inlet, SC | $30,138,658 | $6,245,346 |
Shumard Foundation Inc Atlanta, GA | $18,870,364 | $808,294 |
Greenville Area Development Corporation Greenville, SC | $4,479,595 | $2,418,141 |
Wake Forest Innovation Quarter Management Co Winstonsalem, NC | $76,176 | $0 |
Appalachian Community Capital Corporation Christiansburg, VA | $27,470,921 | $2,186,125 |
Sc Launch Inc Columbia, SC | $12,983,051 | $2,975,171 |
Poplar Springs Fire Service Area Moore, SC | $4,360,898 | $2,218,008 |
Responsible Business Alliance Foundation Alexandria, VA | $1,775,206 | $1,733,955 |
Massanetta Springs Inc Harrisonburg, VA | $9,619,068 | $2,786,663 |
Community Foundation Of Cleveland & Bradley County Inc Cleveland, TN | $9,651,879 | $2,298,313 |