Civic Intelligence

Otakorp Inc.

990 • Fiscal year 2017 • EIN 25-1800552

Nov 01, 2016 to Oct 31, 2017 • Filed on May 23, 2018

C/O 30 Valley DriveAnnville, PA 17003

(919) 247-0981

Siviq Scores

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

Liabilities / Assets

57th percentile

0.14x

Higher debt load relative to assets than 57% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

23rd percentile

0.01x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

16th percentile

-16%

Higher net margin than 16% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

1st percentile

-64%

Faster asset growth than 1% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

21st percentile

-9.4%

Faster revenue growth than 21% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Down

$257,483

Down $453,480 (-64%) from 2016

Net Assets

Down

$221,291

Down $439,111 (-66%) from 2016

Liabilities

Down

$36,192

Down $14,369 (-28%) from 2016

Revenue

Down

$2,820,325

Down $291,465 (-9.4%) from 2016

Expenses

Down

$3,259,436

Down $248,325 (-7.1%) from 2016

Net Income

Down

-$439,111

Down $43,140 (-11%) from 2016

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

2017

Assets$257,483
Liabilities$36,192
Net Assets$221,291

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

2017

Revenue$2,820,325
Expenses$3,259,436
Net Income-$439,111
Jump To
Filing Snapshot
Filing Period
Nov 1, 2016 to Oct 31, 2017
Signed
May 23, 2018
Return Version
2016v3.1
Gross Receipts
$2,869,410
Mission and Program Overview

Mission

To educate the public about asian culture

To promote the appreciation of asian culture, primarily through its media and entertainment

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$447,940$219,640▼ $228,300
Savings and Temporary Cash Investments$205,001--
Land, Buildings, and Equipment, Net$53,007$32,372▼ $20,635
Accounts Receivable$5,015$5,471▲ $456
Total Assets$710,963$257,483▼ $453,480
Liabilities
Other Liabilities$50,561$36,192▼ $14,369
Total Liabilities$50,561$36,192▼ $14,369
Net Assets / Fund Balance
Unrestricted Net Assets$660,402$221,291▼ $439,111
Total Net Assets Fund Balance$660,402$221,291▼ $439,111
Total Liabilities and Net Assets / Fund Balance$710,963$257,483▼ $453,480

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$32,372$228,629$261,001
Other Land Buildings-$16,320$16,320
Compensation and Service Providers

Board Members and Trustees

NameTitle
Lee FennerPresident
Bill GlassbrookComptroller
Ina WangCorrespondin
Andy ZerrlautMember at La
Brooke ZerrlautMember at La
Jenn SmiechowskiMember at La
John NadzamMember at La
Makaya HicksMember at La
Michael MorrisMember at La
Nick CrouchMember at La
Jaunita KeelerRecording Se
Matt SmiechowskiTreasurer
Kimberly MeraniVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Dsl Sound INCAudio Visual Sv67 W BALTIMORE ST STE 101, PO BOX 96118, Hagerstown, MD 21740$537,845
Hilton BaltimoreHotel401 WEST PRATT STREET, Baltimore, MD 21201$201,713
Sheraton Inner Harbor HotelHotel300 S CHARLES STREET, Baltimore, MD 21201$201,255
Hargrove INCDisplay ServiceONE HARGROVE DRIVE, Lanham, MD 20706$199,692
Ceasars EntertainmentConvention SpacC/O PLANET HOLLYWOOD BUSINESS SERVI, Las Vegas, NV 89193$120,248
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,819,760
Investment Income
$47
Other Revenue
$518
Change in Net Assets
$-439,111
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,259,436
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$2,393,977$32,916-$2,426,893
Office Expenses$145,450$16,156-$161,606
Fees for Services Legal-$130,329-$130,329
Travel$97,717$13,482-$111,199
Advertising-$90,706-$90,706
Fees for Services Accounting-$45,653-$45,653
Occupancy-$44,501-$44,501
Information Technology$19,169$9,623-$28,792
Depreciation Depletion$20,635--$20,635
Other Expenses-$4,668-$4,668
Total Functional Expenses$2,676,948$582,488$0$3,259,436
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$38,797
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Japan Relief Funds$24,669
Credit Card Payable$11,523
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

Matt smiechowski jenn smiechowski treasurer member at la husband and wife andy zerrlaut brooke zerrlaut member at la member at la husband and wife

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

Filer Name
Otakorp Inc
EIN
25-1800552
Address
C/O 30 VALLEY DRIVE, ANNVILLE, PA 17003

Signing Officer

Name
Matt Smiechowski
Title
Treasurer
Signed
2018-05-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lee Fenner
Formed
1994
Legal Domicile
Pa
Voting Board Members
211
Independent Board Members
211
Employees
0
Volunteers
774

Preparer

Firm
Diana M Reed & Associates Pc
Address
1505 E CHOCOLATE AVE, HERSHEY, PA 17033
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; modeled on traditional japanese street festivals to promote cultural awareness and is open to the general public. Space usage limitations at our new location forced us to absorb this festival into our otakon event as a programming track. 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. Additionally in 2017 we participated in sakura matsuri directly as an event sponsor. This includes both providing financial support and recommending volunteers from our organization to support their event. In 2017, otakorp continued the sponsorship of its second convention called otakon vegas. This was the 4th year for the event, held in las vegas, nv. This event is modeled after our annual meeting, in that it is a 3-day event including panels, lectures, workshops, concerts, film and video presentations as well as live appearances and performances by those involved in creating, producing, and distribution of asian art and culture. Our 2017 bought in more than 2000 attendees over the three day weekend and was supported by 80 volunteer staff. It had over 100 hours of panels/workshops and 100 hours of video programming content, including that from relevant industry partners. This year, we had as guests voice actors from the us industry partners who dub japanese animation into english, japanese screenwriters and directors, and professional sumo wrestlers. As guests, they host panels and q&a sessions allowing attendees to learn more about the guests and the industry. 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 2017, WE MOVED TO A NEW FACILITY AND THE FESTIVAL DREW OVER 22,000 MEMBERS FOR EACH OF THREE DAYS, INCLUDING MEMBERS OF THE JAPANESE EMBASSY, PLUS OVER 800 VOLUNTEER STAFF. THE CONVENTION IS ONE OF LARGEST EVENTS 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; MODELED ON TRADITIONAL JAPANESE STREET FESTIVALS TO PROMOTE CULTURAL AWARENESS AND IS OPEN TO THE GENERAL PUBLIC. SPACE USAGE LIMITATIONS AT OUR NEW LOCATION FORCED US TO ABSORB THIS FESTIVAL INTO OUR OTAKON EVENT AS A PROGRAMMING TRACK. 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. ADDITIONALLY IN 2017 WE PARTICIPATED IN SAKURA MATSURI DIRECTLY AS AN EVENT SPONSOR. THIS INCLUDES BOTH PROVIDING FINANCIAL SUPPORT AND RECOMMENDING VOLUNTEERS FROM OUR ORGANIZATION TO SUPPORT THEIR EVENT. IN 2017, OTAKORP CONTINUED THE SPONSORSHIP OF ITS SECOND CONVENTION CALLED OTAKON VEGAS. THIS WAS THE 4TH YEAR FOR THE EVENT, HELD IN LAS VEGAS, NV. THIS EVENT IS MODELED AFTER OUR ANNUAL MEETING, IN THAT IT IS A 3-DAY EVENT INCLUDING PANELS, LECTURES, WORKSHOPS, CONCERTS, FILM AND VIDEO PRESENTATIONS AS WELL AS LIVE APPEARANCES AND PERFORMANCES BY THOSE INVOLVED IN CREATING, PRODUCING, AND DISTRIBUTION OF ASIAN ART AND CULTURE. OUR 2017 BOUGHT IN MORE THAN 2000 ATTENDEES OVER THE THREE DAY WEEKEND AND WAS SUPPORTED BY 80 VOLUNTEER STAFF. IT HAD OVER 100 HOURS OF PANELS/WORKSHOPS AND 100 HOURS OF VIDEO PROGRAMMING CONTENT, INCLUDING THAT FROM RELEVANT INDUSTRY PARTNERS. THIS YEAR, WE HAD AS GUESTS VOICE ACTORS FROM THE US INDUSTRY PARTNERS WHO DUB JAPANESE ANIMATION INTO ENGLISH, JAPANESE SCREENWRITERS AND DIRECTORS, AND PROFESSIONAL SUMO WRESTLERS. AS GUESTS, THEY HOST PANELS AND Q&A SESSIONS ALLOWING ATTENDEES TO LEARN MORE ABOUT THE GUESTS AND THE INDUSTRY. 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FESTIVAL FEATURING MUSIC, FOOD, AND OTHER ACTIVITIES; MODELED ON TRADITIONAL JAPANESE STREET FESTIVALS TO PROMOTE CULTURAL AWARENESS AND IS OPEN TO THE GENERAL PUBLIC. SPACE USAGE LIMITATIONS AT OUR NEW LOCATION FORCED US TO ABSORB THIS FESTIVAL INTO OUR OTAKON EVENT AS A PROGRAMMING TRACK. 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. ADDITIONALLY IN 2017 WE PARTICIPATED IN SAKURA MATSURI DIRECTLY AS AN EVENT SPONSOR. THIS INCLUDES BOTH PROVIDING FINANCIAL SUPPORT AND RECOMMENDING VOLUNTEERS FROM OUR ORGANIZATION TO SUPPORT THEIR EVENT. IN 2017, OTAKORP CONTINUED THE SPONSORSHIP OF ITS SECOND CONVENTION CALLED OTAKON VEGAS. THIS WAS THE 4TH YEAR FOR THE EVENT, HELD IN LAS VEGAS, NV. THIS EVENT IS MODELED AFTER OUR ANNUAL MEETING, IN THAT IT IS A 3-DAY EVENT INCLUDING PANELS, LECTURES, WORKSHOPS, CONCERTS, FILM AND VIDEO PRESENTATIONS AS WELL AS LIVE APPEARANCES AND PERFORMANCES BY THOSE INVOLVED IN CREATING, PRODUCING, AND DISTRIBUTION OF ASIAN ART AND CULTURE. OUR 2017 BOUGHT IN MORE THAN 2000 ATTENDEES OVER THE THREE DAY WEEKEND AND WAS SUPPORTED BY 80 VOLUNTEER STAFF. IT HAD OVER 100 HOURS OF PANELS/WORKSHOPS AND 100 HOURS OF VIDEO PROGRAMMING CONTENT, INCLUDING THAT FROM RELEVANT INDUSTRY PARTNERS. THIS YEAR, WE HAD AS GUESTS VOICE ACTORS FROM THE US INDUSTRY PARTNERS WHO DUB JAPANESE ANIMATION INTO ENGLISH, JAPANESE SCREENWRITERS AND DIRECTORS, AND PROFESSIONAL SUMO WRESTLERS. AS GUESTS, THEY HOST PANELS AND Q&A SESSIONS ALLOWING ATTENDEES TO LEARN MORE ABOUT THE GUESTS AND THE INDUSTRY. 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/ExplanationTxt1MATT SMIECHOWSKI JENN SMIECHOWSKI TREASURER MEMBER AT LA HUSBAND AND WIFE ANDY ZERRLAUT BROOKE ZERRLAUT MEMBER AT LA MEMBER AT LA HUSBAND AND WIFE
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
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