Karate Five Association Inc
- Assets
- $67.3k
- Revenue
- $85.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Corryton, TN
- Founding
- 05/2018
- Data as of
- 12/2022
- EIN
- 82-5372906
Organization Overview
Karate Five Association Inc is located in Corryton, TN. The organization was established in 2018. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Karate Five Association 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, Karate Five Association Inc generated $85.7k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 15.5% each year . All expenses for the organization totaled $96.7k 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
FIGHTING TO SAVE LIVES THROUGH THE MENTAL PHYSICAL AND EMOTIONAL TRAIN DISCIPLINES OF MARTIAL ARTS INSTILLING SELF DISCIPLINEAND MORE
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNITED WAY OF GREATER KNOXVILLE CITY SPRING BREAK, CITY CRIME PREVENTION , CITY COVID-19 GRANT CITY SUMMER GRANT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Willie G Wilson President | OfficerTrustee | 40 | $2,950 |
Marlena Beal Secretary | Officer | 20 | $1,975 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,365 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $76,291 |
| Noncash contributions included in lines 1a–1f | $145 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $85,656 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $85,656 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $82,988 |
| Grants and other assistance to domestic individuals. | $2,521 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,634 |
| Compensation of current officers, directors, key employees. | $813 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,642 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,908 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $96,693 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,332 |
| Savings and temporary cash investments | $0 |
| 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 | $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 | $0 |
| Total assets | $67,332 |
| Accounts payable and accrued expenses | $45,300 |
| 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 | $45,300 |
| Net assets without donor restrictions | $22,032 |
| 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 | $67,332 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Karate Five Association Inc has recieved totaling $10,900.
| Awarding Organization | Amount |
|---|---|
East Tennessee Foundation Knoxville, TN PURPOSE: PROGRAM DEVELOPMENT | $10,900 |
Peer Organizations
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|---|---|---|
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International Town-Country Club Inc Fairfax, VA | $30,278,923 | $13,361,224 |
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Mid-Eastern Athletic Conference Norfolk, VA | $5,958,489 | $11,151,768 |
Arkansas State University Red Wolves Foundation Inc State University, AR | $49,039,332 | $6,488,806 |
Atlanta Country Club Inc Marietta, GA | $25,768,489 | $8,068,669 |
Old Warson Country Club St Louis, MO | $23,490,544 | $9,066,776 |
Athens Country Club Inc Athens, GA | $21,763,288 | $8,069,383 |
Shoal Creek Shoal Creek, AL | $12,950,565 | $9,210,708 |
Cherokee Country Club Knoxville, TN | $33,935,565 | $11,523,295 |
Princess Anne Country Club Inc Virginia Beach, VA | $27,152,387 | $11,095,440 |
Chattanooga Golf And Country Club Chattanooga, TN | $23,843,931 | $15,215,377 |