Korean Martial Arts Culture & Education Foundation Inc
- Assets
- $530.2k
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 3
- Location
- Hollywood, FL
- Founding
- 08/2018
- Data as of
- 12/2021
- EIN
- 83-1717127
Organization Overview
Korean Martial Arts Culture & Education Foundation Inc is located in Hollywood, FL. The organization was established in 2018. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Korean Martial Arts Culture & Education Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean Martial Arts Culture & Education 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 12/2021, Korean Martial Arts Culture & Education Foundation Inc generated $4.5m in total revenue. All expenses for the organization totaled $4.5m during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS A YOUTH SCHOLARSHIP ORGANIZATION FOR THE INSTRUCTION OF KOREAN MARTIAL ARTS AND THE EDUCATION IN KOREAN CULTURE AND LANGUAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMMER FOOD SERVICE PROGRAM FOR CHILDREN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eunjoo Lee President | OfficerTrustee | 40 | $66,250 |
Jae Chun Director | Trustee | $53,850 | |
Elina Lee Friedsberg Director | Trustee | $27,932 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,412,732 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,086 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,414,818 |
| Total Program Service Revenue | $0 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $54,598 |
| 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 | $4,469,417 |
| 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. | $148,032 |
| 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 | $11,891 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,831 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $469 |
| Advertising and promotion | $4,690 |
| Office expenses | $2,841 |
| Information technology | $10,538 |
| Royalties | $0 |
| Occupancy | $116,671 |
| Travel | $8,131 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,984 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,557 |
| Insurance | $5,874 |
| All other expenses | $20,242 |
| Total functional expenses | $4,518,982 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,562 |
| 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 | $12,016 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $385,608 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $530,186 |
| Accounts payable and accrued expenses | $83,677 |
| 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 | $42,798 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $63,434 |
| Total liabilities | $189,909 |
| Net assets without donor restrictions | $340,277 |
| 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 | $530,186 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of The Four Arts Palm Beach, FL | $121,173,909 | $24,597,391 |
Irma And Norman Braman Art Foundation Miami, FL | $27,200,000 | -$200,000 |
Korean Martial Arts Culture & Education Foundation Inc Hollywood, FL | $530,186 | $4,469,417 |
Cafe 1040 Inc Alpharetta, GA | $1,445,364 | $4,184,740 |
Safe States Alliance Atlanta, GA | $855,123 | $2,462,301 |
Miami Broward One Carnival Host Committee Inc Miami, FL | $499,382 | $2,415,530 |
Artsnow Inc Atlanta, GA | $4,742,407 | $2,526,341 |
Dunedin Fine Arts Cultural Center Inc Dunedin, FL | $9,442,187 | $2,311,828 |
Ocean Reef Cultural Center Inc Key Largo, FL | $38,541,149 | $2,233,554 |
Pensacola Retirement Village Inc Orlando, FL | $4,149,191 | $1,797,373 |
Iris & B Gerald Cantor Foundation Palm Beach, FL | $24,280,811 | $1,163,888 |
Spruill Center For The Arts Inc Atlanta, GA | $6,437,897 | $2,168,968 |