Civic Intelligence

Otakorp Inc.

990 • Fiscal year 2014 • EIN 25-1800552

Nov 01, 2013 to Oct 31, 2014 • Filed on Mar 13, 2015

C/O 30 Valley Drive17003

(919) 247-0981

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

35th percentile

0.04x

Higher debt load relative to assets than 35% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

23rd percentile

0.02x

Higher debt load relative to revenue than 23% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

50th percentile

2.8%

Higher net margin than 50% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

67th percentile

8.2%

Faster asset growth than 67% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Up

$1,362,232

Up $103,579 (+8.2%) from 2013

Net Assets

Up

$1,313,943

Up $82,770 (+6.7%) from 2013

Liabilities

Up

$48,289

Up $20,809 (+76%) from 2013

Revenue

$2,955,382

No earlier filing loaded for comparison.

Expenses

Up

$2,872,612

Up $38,433 (+1.4%) from 2013

Net Income

$82,770

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2013: $1,258,653Liabilities 2013: $27,480Net Assets 2013: $1,231,1732013Assets 2014: $1,362,232Liabilities 2014: $48,289Net Assets 2014: $1,313,9432014Assets 2015: $1,113,508Liabilities 2015: $57,135Net Assets 2015: $1,056,3732015Assets 2016: $710,963Liabilities 2016: $50,561Net Assets 2016: $660,4022016Assets 2017: $257,483Liabilities 2017: $36,192Net Assets 2017: $221,2912017Assets 2018: $417,537Liabilities 2018: $9,597Net Assets 2018: $407,9402018Assets 2019: $352,216Liabilities 2019: -$30,860Net Assets 2019: $383,0762019Assets 2020: $191,275Liabilities 2020: $28,113Net Assets 2020: $163,1622020Assets 2021: $526,333Liabilities 2021: $75,735Net Assets 2021: $450,5982021Assets 2022: $2,924,624Liabilities 2022: $80,153Net Assets 2022: $2,844,4712022Assets 2023: $3,275,104Liabilities 2023: $72,322Net Assets 2023: $3,202,7822023Assets 2024: $4,133,756Liabilities 2024: $73,155Net Assets 2024: $4,060,6012024

Highlighted filing

2014

Assets$1,362,232
Liabilities$48,289
Net Assets$1,313,943

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2013: $2,834,1792013Revenue 2014: $2,955,382Expenses 2014: $2,872,612Net Income 2014: $82,7702014Revenue 2015: $2,952,835Expenses 2015: $3,210,405Net Income 2015: -$257,5702015Revenue 2016: $3,111,790Expenses 2016: $3,507,761Net Income 2016: -$395,9712016Revenue 2017: $2,820,325Expenses 2017: $3,259,436Net Income 2017: -$439,1112017Revenue 2018: $2,881,829Expenses 2018: $2,719,849Net Income 2018: $161,9802018Revenue 2019: $2,566,195Expenses 2019: $2,569,270Net Income 2019: -$3,0752019Revenue 2020: $365,102Expenses 2020: $585,016Net Income 2020: -$219,9142020Revenue 2021: $1,832,562Expenses 2021: $1,545,126Net Income 2021: $287,4362021Revenue 2022: $214,009Expenses 2022: $110,581Net Income 2022: $103,4282022Revenue 2023: $3,786,249Expenses 2023: $3,427,938Net Income 2023: $358,3112023Revenue 2024: $4,409,868Expenses 2024: $3,552,049Net Income 2024: $857,8192024

Highlighted filing

2014

Revenue$2,955,382
Expenses$2,872,612
Net Income$82,770
Jump To
Filing Snapshot
Filing Period
Nov 1, 2013 to Oct 31, 2014
Signed
Mar 13, 2015
Return Version
2013v4.0
Gross Receipts
$3,059,640
Mission and Program Overview

Mission

To educate the public about asian culture

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,036,935$1,060,356▲ $23,421
Savings and Temporary Cash Investments$202,746$203,569▲ $823
Land, Buildings, and Equipment, Net$18,972$97,250▲ $78,278
Accounts Receivable-$1,057-
Total Assets$1,258,653$1,362,232▲ $103,579
Liabilities
Other Liabilities$27,480$48,289▲ $20,809
Total Liabilities$27,480$48,289▲ $20,809
Net Assets / Fund Balance
Unrestricted Net Assets$1,231,173$1,313,943▲ $82,770
Total Net Assets Fund Balance$1,231,173$1,313,943▲ $82,770
Total Liabilities and Net Assets / Fund Balance$1,258,653$1,362,232▲ $103,579

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$97,250$180,071$277,321
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jennifer PiroPresident
Dallas OdomDirector
Ina WangDirector
Lee FennerDirector
Maggie DelauneyDirector
Matt MerenbloomDirector
Maxwell BlochDirector
Rachael JacksonDirector
Matt SmiechowskiComptroller
Vince ElderCorrespondin
Robert KalogerakosRecording Se
Andrew EarnhardtTreasurer
John GluthVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Dsl Sound INCAudio Visual Sv-$568,830
Hargrove INCDisplay Service-$210,569
Baltimore Convention CenterConvention Site-$137,190
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,971,226
Investment Income
$824
Other Revenue
$-16,668
Change in Net Assets
$82,770
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,872,612
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$2,115,727$60,146-$2,175,873
Office Expenses$124,854$3,262-$128,116
Travel$97,383$27,344-$124,727
Advertising$107,562--$107,562
Fees for Services Legal-$103,171-$103,171
Information Technology$35,785$3,178-$38,963
Fees for Services Accounting-$32,835-$32,835
Depreciation Depletion$10,225--$10,225
Occupancy-$7,743-$7,743
Other Expenses$4,846$15,647-$4,846
All Other Expenses-$2,019-$2,019
Insurance-$1,738-$1,738
Total Functional Expenses$2,615,529$257,083$0$2,872,612
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Prior Board MemProduction MgmtNo$35,910
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Japan Relief Funds$24,669
Credit Card Payable$23,620
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Maggie delauney vince elder director officer married

Form 990, Page 6, Part VI, Line 11B

Review is conducted by the officers and the entire board prior to submission.

Form 990, Page 6, Part VI, Line 12C

Actions are reviewed at all board meetings and discipline is enforced accordingly. Discipline is usually termination of membership and disassociation from the organization.

Form 990, Page 6, Part VI, Line 19

Documents available upon request.

Filing and Contact Details

Filer

EIN
25-1800552

Signing Officer

Name
Andrew Earnhardt
Title
Treasurer
Signed
2015-03-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Earnhardt
Formed
1994
Legal Domicile
Pa
Voting Board Members
140
Independent Board Members
140
Employees
0
Volunteers
755

Preparer

Preparer
Diana M Reed
Phone
7175335513
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Festival featuring music, food, and other activities, which is modeled on traditional japanese street festivals. This event is open to the general public and promotes the cultural awareness portion of our mission. In conjunction with the smithsonian's freer and sackler galleries, and the japanese information and culture center, otakorp sponsors an animation marathon as part of the national cherry blossom festival in washington, d.c. We have funded, assisted with film selection, provided staff, and sponsored speakers and related activities at this event since 2004. This event is open to the general public, but members are invited to participate and volunteer, and supports both our educational mission and our publicity and outreach needs. In 2014, otakorp sponsored a second convention held in las vegas, nv called otakon vegas. This event was modeled after our annual meeting, in that it is a 3-day event including lectures, workshops, concerts, film and video presentations, and live appearances and performances by those involved in creating, producing, and distributing asian art and culture. Our 2014 event drew close to 2000 attendees over the three days and was supported by 50 volunteer staff. Since 2005, otakorp has dispatched small teams to tokyo, japan, to attend major festivals relevant to our cross-cultural mission. Specifically, we have participated in tokyo anime festival, tokyo music market and anime contents expo. Our participation has included exhibits, panels, and discussions regarding american perception of cultural exports. We also use the opportunity to network and maintain relationships with guests and industry, which assists in bringing relevant guests to our events.

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IRS990/Desc0OTAKORP INC. SPONSORS, AS PART OF ITS ANNUAL MEETING, A 3-DAY EDUCATIONAL AND IMMERSIVE EVENT OF ASIAN POPULAR ARTS AND CULTURE, CALLED OTAKON. OTAKON INCLUDES LECTURES,WORKSHOPS, CONCERTS, FILM AND VIDEO PRESENTATIONS, AND LIVE APPEARANCES AND PERFORMANCES BY THOSE INVOLVED IN CREATING, PRODUCING, AND DISTRIBUTING ASIAN ART AND CULTURE. IN 2014, THE FESTIVAL DREW OVER 30,000 MEMBERS FOR EACH OF THREE DAYS, INCLUDING MEMBERS OF THE JAPANESE EMBASSY, PLUS OVER 700 VOLUNTEER STAFF. THE CONVENTION IS THE SECOND LARGEST EVENT OF ITS TYPE IN THE UNITED STATES, AND HAS BEEN OUR PRIMARY EVENT SINCE THE FOUNDING OF THE CORPORATION. BEGINNING IN 2011, OTAKORP HAS SPONSORED THE OTAKON MATSURI, AN OUTDOOR FESTIVAL FEATURING MUSIC, FOOD, AND OTHER ACTIVITIES, WHICH IS MODELED ON TRADITIONAL JAPANESE STREET FESTIVALS. THIS EVENT IS OPEN TO THE GENERAL PUBLIC AND PROMOTES THE CULTURAL AWARENESS PORTION OF OUR MISSION. IN CONJUNCTION WITH THE SMITHSONIAN'S FREER AND SACKLER GALLERIES, AND THE JAPANESE INFORMATION AND CULTURE CENTER, OTAKORP SPONSORS AN ANIMATION MARATHON AS PART OF THE NATIONAL CHERRY BLOSSOM FESTIVAL IN WASHINGTON, D.C. WE HAVE FUNDED, ASSISTED WITH FILM SELECTION, PROVIDED STAFF, AND SPONSORED SPEAKERS AND RELATED ACTIVITIES AT THIS EVENT SINCE 2004. THIS EVENT IS OPEN TO THE GENERAL PUBLIC, BUT MEMBERS ARE INVITED TO PARTICIPATE AND VOLUNTEER, AND SUPPORTS BOTH OUR EDUCATIONAL MISSION AND OUR PUBLICITY AND OUTREACH NEEDS. IN 2014, OTAKORP SPONSORED A SECOND CONVENTION HELD IN LAS VEGAS, NV CALLED OTAKON VEGAS. THIS EVENT WAS MODELED AFTER OUR ANNUAL MEETING, IN THAT IT IS A 3-DAY EVENT INCLUDING LECTURES, WORKSHOPS, CONCERTS, FILM AND VIDEO PRESENTATIONS, AND LIVE APPEARANCES AND PERFORMANCES BY THOSE INVOLVED IN CREATING, PRODUCING, AND DISTRIBUTING ASIAN ART AND CULTURE. OUR 2014 EVENT DREW CLOSE TO 2000 ATTENDEES OVER THE THREE DAYS AND WAS SUPPORTED BY 50 VOLUNTEER STAFF. SINCE 2005, OTAKORP HAS DISPATCHED SMALL TEAMS TO TOKYO, JAPAN, TO ATTEND MAJOR FESTIVALS RELEVANT TO OUR CROSS-CULTURAL MISSION. SPECIFICALLY, WE HAVE PARTICIPATED IN TOKYO ANIME FESTIVAL, TOKYO MUSIC MARKET AND ANIME CONTENTS EXPO. OUR PARTICIPATION HAS INCLUDED EXHIBITS, PANELS, AND DISCUSSIONS REGARDING AMERICAN PERCEPTION OF CULTURAL EXPORTS. WE ALSO USE THE OPPORTUNITY TO NETWORK AND MAINTAIN RELATIONSHIPS WITH GUESTS AND INDUSTRY, WHICH ASSISTS IN BRINGING RELEVANT GUESTS TO OUR EVENTS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0RECORDING SE
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine10MIKE LEE - UTS LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine20UTS
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FESTIVAL FEATURING MUSIC, FOOD, AND OTHER ACTIVITIES, WHICH IS MODELED ON TRADITIONAL JAPANESE STREET FESTIVALS. THIS EVENT IS OPEN TO THE GENERAL PUBLIC AND PROMOTES THE CULTURAL AWARENESS PORTION OF OUR MISSION. IN CONJUNCTION WITH THE SMITHSONIAN'S FREER AND SACKLER GALLERIES, AND THE JAPANESE INFORMATION AND CULTURE CENTER, OTAKORP SPONSORS AN ANIMATION MARATHON AS PART OF THE NATIONAL CHERRY BLOSSOM FESTIVAL IN WASHINGTON, D.C. WE HAVE FUNDED, ASSISTED WITH FILM SELECTION, PROVIDED STAFF, AND SPONSORED SPEAKERS AND RELATED ACTIVITIES AT THIS EVENT SINCE 2004. THIS EVENT IS OPEN TO THE GENERAL PUBLIC, BUT MEMBERS ARE INVITED TO PARTICIPATE AND VOLUNTEER, AND SUPPORTS BOTH OUR EDUCATIONAL MISSION AND OUR PUBLICITY AND OUTREACH NEEDS. IN 2014, OTAKORP SPONSORED A SECOND CONVENTION HELD IN LAS VEGAS, NV CALLED OTAKON VEGAS. THIS EVENT WAS MODELED AFTER OUR ANNUAL MEETING, IN THAT IT IS A 3-DAY EVENT INCLUDING LECTURES, WORKSHOPS, CONCERTS, FILM AND VIDEO PRESENTATIONS, AND LIVE APPEARANCES AND PERFORMANCES BY THOSE INVOLVED IN CREATING, PRODUCING, AND DISTRIBUTING ASIAN ART AND CULTURE. OUR 2014 EVENT DREW CLOSE TO 2000 ATTENDEES OVER THE THREE DAYS AND WAS SUPPORTED BY 50 VOLUNTEER STAFF. SINCE 2005, OTAKORP HAS DISPATCHED SMALL TEAMS TO TOKYO, JAPAN, TO ATTEND MAJOR FESTIVALS RELEVANT TO OUR CROSS-CULTURAL MISSION. SPECIFICALLY, WE HAVE PARTICIPATED IN TOKYO ANIME FESTIVAL, TOKYO MUSIC MARKET AND ANIME CONTENTS EXPO. OUR PARTICIPATION HAS INCLUDED EXHIBITS, PANELS, AND DISCUSSIONS REGARDING AMERICAN PERCEPTION OF CULTURAL EXPORTS. WE ALSO USE THE OPPORTUNITY TO NETWORK AND MAINTAIN RELATIONSHIPS WITH GUESTS AND INDUSTRY, WHICH ASSISTS IN BRINGING RELEVANT GUESTS TO OUR EVENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MAGGIE DELAUNEY VINCE ELDER DIRECTOR OFFICER MARRIED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEW IS CONDUCTED BY THE OFFICERS AND THE ENTIRE BOARD PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ACTIONS ARE REVIEWED AT ALL BOARD MEETINGS AND DISCIPLINE IS ENFORCED ACCORDINGLY. DISCIPLINE IS USUALLY TERMINATION OF MEMBERSHIP AND DISASSOCIATION FROM THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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