Gen Richard G Stilwell Korean War Veterans Memorial Foundation
- Assets
- $29.4m
- Revenue
- $57.3k
- Investments
- $0.0
- Employees
- 6
- Location
- Alexandria, VA
- Founding
- 03/2003
- Data as of
- 12/2023
- EIN
- 52-1956689
Organization Overview
Gen Richard G Stilwell Korean War Veterans Memorial Foundation, operating under the name Korean War Veterans Memorial F, is located in Alexandria, VA. The organization was established in 2003. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Korean War Veterans Memorial F employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean War Veterans Memorial F 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 12/2023, Korean War Veterans Memorial F generated $57.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $541.1k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE FOUNDATION IS TO HONOR, PRESERVE AND EDUCATE THE PUBLIC ABOUT THE COURAGE AND SACRIFICE OF THOSE WHO FOUGHT FOR A PEOPLE THEY HAD NEVER MET IN A COUNTRY THEY DID NOT KNOW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS THE MAINTENANCE OF THE KOREAN WAR VETERANS MEMORIAL WHICH IS OWNED BY THE US PARK SERVICE AND CONDUCTS ACTIVITIES TO RAISE AWARENESS AND EDUCATE THE PUBLIC ABOUT THE KOREAN WAR. THE FOUNDATION BEGAN REFURBISHMENTS TO THE ORIGINAL MEMORIAL AND ALSO BEGAN CONSTRUCTION OF THE WALL OF REMEMBRANCE, AN ADDITION TO THE EXISTING MEMORIAL. DURING 2023, IN ADDITION TO THE PROGRAM EXPENSES REPORTED ON PAGE 10, THE FOUNDATION ALSO INCURRED AND CAPITALIZED COSTS FOR THE DESIGN AND CONSTRUCTION OF THE WALL OF REMEMBRANCE IN THE AMOUNT OF $289,883.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Col Richard W Dean II Usa R Vice-Chairman/construction | OfficerTrustee | 20 | $0 |
Ltg Bernard S Champoux Usa R Vice-Chairman | OfficerTrustee | 5 | $0 |
Gen John H Tilelli Jr Usa R Chairman | OfficerTrustee | 10 | $0 |
Mark William Lippert Board Member | Trustee | 5 | $0 |
Sunny Park Board Member | Trustee | 5 | $0 |
Col Louis Berman Usa R Board Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Whiting- Turner Construction | 12/30/22 | $7,059,111 |
Razor Management Production Services For Groundbreaking C | 12/30/22 | $856,699 |
Hartman-cox Architects Architectural Design | 12/30/22 | $255,396 |
Whiting- Turner Construction | 12/30/22 | $7,059,111 |
Razor Management Production Services For Groundbreaking C | 12/30/22 | $856,699 |
Hartman-cox Architects Architectural Design | 12/30/22 | $255,396 |
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 | $160,474 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $160,474 |
| Total Program Service Revenue | $0 |
| Investment income | $92,791 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $57,265 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $131,250 |
| Compensation of current officers, directors, key employees. | $11,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $165,938 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $651 |
| Payroll taxes | $26,994 |
| Fees for services: Management | $34,154 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $61,940 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,055 |
| Advertising and promotion | $0 |
| Office expenses | $2,418 |
| Information technology | $7,487 |
| Royalties | $0 |
| Occupancy | $32,566 |
| 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 | $0 |
| Insurance | $7,957 |
| All other expenses | $847 |
| Total functional expenses | $541,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,149,996 |
| Savings and temporary cash investments | $1,041,155 |
| Pledges and grants receivable | $2,100 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $7,752 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,231,338 |
| Total assets | $29,432,341 |
| Accounts payable and accrued expenses | $178,479 |
| 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 | $5,393,888 |
| Total liabilities | $5,572,367 |
| Net assets without donor restrictions | $4,123,037 |
| Net assets with donor restrictions | $19,736,937 |
| 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 | $29,432,341 |