Korea Defense Veterans Association
- Assets
- $174.5k
- Revenue
- $647.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Gainesville, VA
- Founding
- 08/2017
- Data as of
- 12/2022
- EIN
- 82-1218295
Organization Overview
Korea Defense Veterans Association is located in Gainesville, VA. The organization was established in 2017. According to its NTEE Classification (Q05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Korea Defense Veterans Association employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korea Defense Veterans Association 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, Korea Defense Veterans Association generated $647.2k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.0% each year . All expenses for the organization totaled $665.0k 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
TO ENHANCE THE REPUBLIC OF KOREA -UNITED STATES ALLIANCE BY ADVOCATING FOR THE ALLIANCE AND SUPPORTING THE PEOPLE WHO BUILT AND SERVE THE ALLIANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KDVA CONDUCTED 6 WEBINARS AND 16 HYBRID ON-SITE/WEBINAR EVENTS, MANY WITH NEW PARTNER ORGANIZATIONS TO PROVIDE OUR VIRTUAL AND ON-SITE AUDIENCES OPPORTUNITIES TO INTERACT WITH KDVA MEMBERS AND LEADERS. EVENTS WERE HOSTED IN ENGLISH AND KOREAN.
WEBSITE AND SOCIAL MEDIA PROGRAMS SUPPORT ACTIVITIES TO EDUCATE THE PUBLIC ABOUT THE ROK-U.S. ALLIANCE AND OUR VETERANS AND INCREASED OVERALL SOCIAL MEDIA OUTREACH BY OVER 660,000 IN 2022. THE KDVA DIGITAL LIBRARY ON THE KDVA WEBSITE HOUSES MOST OF KDVA?S WORK INCLUDING PERSONAL ACCOUNTS AND STORIES FROM VETERANS, THE KDVA MONTHLY NEWSLETTERS, AND KDVA QUARTERLY JOURNALS.
KDVA MEMBERSHIP PROGRAMS AND ACTIVITIES DRAW PEOPLE TO JOIN KDVA TO SUPPORT THE ROK-U.S. ALLIANCE AND OUR VETERANS AND INCLUDE MEMBERSHIP DRIVES AND MEMBERSHIP MATERIALS. KDVA INCREASED MEMBERSHIP BY 106% IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Col Ret Seung J Lee Sr VP Of Operations/secretary | Officer | 40 | $135,625 |
Gen Ret Curtis M Scaparrotti Us Vice Chairman | OfficerTrustee | 1 | $0 |
Gen Ret Vincent K Brooks Chairman/president | OfficerTrustee | 5 | $0 |
Maj Gen Ret Seo Young Lee Director | Trustee | 0.5 | $0 |
Gen Ret Seung Jo Jung Director | Trustee | 0.5 | $0 |
Lt Gen Ret Michael Bills Director | Trustee | 0.5 | $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 | $647,171 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $647,171 |
| Total Program Service Revenue | $0 |
| Investment income | $12 |
| 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 | $647,183 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,714 |
| 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. | $135,625 |
| Compensation of current officers, directors, key employees. | $27,125 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $98,363 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,797 |
| Payroll taxes | $15,016 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,684 |
| Fees for services: Accounting | $42,332 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $83,366 |
| Advertising and promotion | $41,413 |
| Office expenses | $14,700 |
| Information technology | $20,540 |
| Royalties | $0 |
| Occupancy | $20,026 |
| Travel | $29,462 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $35,073 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,680 |
| All other expenses | $0 |
| Total functional expenses | $664,977 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,365 |
| Savings and temporary cash investments | $128,004 |
| Pledges and grants receivable | $929 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,208 |
| Total assets | $174,506 |
| Accounts payable and accrued expenses | $16,496 |
| 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 | $16,496 |
| Net assets without donor restrictions | $0 |
| 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 | $158,010 |
| Total liabilities and net assets/fund balances | $174,506 |
Grants Awarded
Over the last fiscal year, Korea Defense Veterans Association has awarded $59,074 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
KOREAN WAR VETS MEM FOUND PURPOSE: Korean War Wall of Remembrance | $50,000 |
USO PURPOSE: Leadership Luncheon | $9,074 |