Civic Intelligence

Otakorp Inc.

990 • Fiscal year 2018 • EIN 25-1800552

Nov 01, 2017 to Oct 31, 2018 • Filed on Sep 16, 2019

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

33rd percentile

0.02x

Higher debt load relative to assets than 33% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

18th percentile

0.00x

Higher debt load relative to revenue than 18% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

57th percentile

5.6%

Higher net margin than 57% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

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.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

93rd percentile

62%

Faster asset growth than 93% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

46th percentile

2.2%

Faster revenue growth than 46% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$417,537

Up $160,054 (+62%) from 2017

Net Assets

Up

$407,940

Up $186,649 (+84%) from 2017

Liabilities

Down

$9,597

Down $26,595 (-73%) from 2017

Revenue

Up

$2,881,829

Up $61,504 (+2.2%) from 2017

Expenses

Down

$2,719,849

Down $539,587 (-17%) from 2017

Net Income

Up

$161,980

Up $601,091 (+137%) from 2017

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

2018

Assets$417,537
Liabilities$9,597
Net Assets$407,940

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

2018

Revenue$2,881,829
Expenses$2,719,849
Net Income$161,980
Jump To
Filing Snapshot
Filing Period
Nov 1, 2017 to Oct 31, 2018
Signed
Sep 16, 2019
Return Version
2017v2.3
Gross Receipts
$2,915,852
Mission and Program Overview

Mission

To educate the public about asian culture

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$219,640$398,957▲ $179,317
Land, Buildings, and Equipment, Net$32,372$13,276▼ $19,096
Accounts Receivable$5,471$5,304▼ $167
Total Assets$257,483$417,537▲ $160,054
Liabilities
Other Liabilities$36,192$9,597▼ $26,595
Total Liabilities$36,192$9,597▼ $26,595
Net Assets / Fund Balance
Unrestricted Net Assets$221,291$407,940▲ $186,649
Total Net Assets Fund Balance$221,291$407,940▲ $186,649
Total Liabilities and Net Assets / Fund Balance$257,483$417,537▲ $160,054

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,276$247,725$261,001
Other Land Buildings-$16,320$16,320
Compensation and Service Providers

Board Members and Trustees

NameTitle
Lee FennerPresident
Nick AvgerinosPresident
Bill GlassbrookComptroller
Chrissy PowersCoresponding
Liz CutlerCoresponding
Ina WangCorrespondin
Amanda MatherMember at La
Andy ZerrlautMember at La
Brian CutlerMember at La
Brooke ZerrlautMember at La
Jenn SmiechowskiMember at La
John GluthMember at La
John NadzamMember at La
Kate LeitkowskiMember at La
Makaya HicksMember at La
Michael MorrisMember at La
Nick CrouchMember at La
Sarah MurmmertMember at La
Juanita KeelerRecording Se
Rachael McclearyRecording Se
Matt RosenbergerTreasurer
Matt SmiechowskiTreasurer
Brian KernVice Preside
Kimberly MeraniVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,170
Program Service Revenue
$2,820,476
Investment Income
$0
Other Revenue
$60,183
All Other Contributions
$1,170
Change in Net Assets
$161,980
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,719,849
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$2,068,886$6,473-$2,075,359
Office Expenses$132,548--$132,548
Fees for Services Legal-$126,093-$126,093
Travel$97,082$3,229-$100,311
Advertising-$53,113-$53,113
Occupancy-$43,804-$43,804
Information Technology-$40,093-$40,093
Depreciation Depletion$19,096--$19,096
Fees for Services Accounting-$10,840-$10,840
Other Expenses-$4,919-$4,919
Insurance-$1,841-$1,841
Total Functional Expenses$2,317,612$402,237$0$2,719,849
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$50,722
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card Payable$9,597
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
No
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

Jenn smiechowski matt smiechowski member at la treasurer husband and wife andy zerrlaut brooke zerrlaut member at la member at la husband and wife brian cutler liz cutler member at la coresponding 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
Nick Avgerinos
Title
President
Signed
2019-09-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nick Avgerinos
Formed
1994
Legal Domicile
Pa
Voting Board Members
206
Independent Board Members
206
Employees
0
Volunteers
759

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

Of the corporation. In 2018, we continued our participation as an event sponsor of the "sakura matsuri", part of the events around the national cherry blossom festival in washington, dc. Our participation in this event allows us to connect with the larger public to support both our educational mission and our publicity and outreach needs. In 2018, otakorp continued the sponsorship of its second convention called "otakon vegas". This was the 5th 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 by those involved in the creation, production, and distribution of asian art and culture. Our 2018 event brought in around 1,700 attendees over the three-day weekend and was supported by 70 volunteer staff. It had over 100 hours of panels/workshops and 100 hours of video programming content, including those from relevant industry partners. Since 2005, otakorp has dispatched small teams to tokyo, japan to attend major festivals relevant to our cross-cultural mission. These events include animejapan and the tokyo international music market. These are an important opportunity to network and maintain relationships with our guests and industry, which assists us in bringing relevant guests to our events.

Form 990, Part XI, Line 9

Japan relief was paid out in prior years and should not have been reported as a liability. It has been corrected as an adjustment to fund balance.

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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 PANELS, LECTURES, WORKSHOPS, CONCERTS, FILM AND VIDEO PRESENTATIONS, AND LIVE APPEARANCES BY THOSE INVOLVED IN THE CREATION, PRODUCTION, AND DISTRIBUTION ASIAN ART AND CULTURE. 2018 WAS OUR SECOND YEAR HOLDING OTAKON IN WASHINGTON, DC AND WAS SUPPORTED BY OVER 800 VOLUNTEER STAFF. OTAKON'S ATTENDANCE GREW BY 13% AS IT DREW OVER 28,000 MEMBERS OVER EACH OF THREE DAYS. WE CONTINUED TO WORK WITH THE EMBASSY OF JAPAN, AND EXPANDED OUR LOCAL OUTREACH TO INCLUDE A SPECIAL EVENT WITH THE LIBRARY OF CONGRESS. THE CONVENTION IS ONE OF THE LARGEST EVENTS OF ITS TYPE IN THE UNITED STATES AND HAS BEEN OUR PRIMARY EVENT SINCE THE FOUNDING OF THE CORPORATION. IN 2018, WE CONTINUED OUR PARTICIPATION AS AN EVENT SPONSOR OF THE "SAKURA MATSURI", PART OF THE EVENTS AROUND THE NATIONAL CHERRY BLOSSOM FESTIVAL IN WASHINGTON, DC. OUR PARTICIPATION IN THIS EVENT ALLOWS US TO CONNECT WITH THE LARGER PUBLIC TO SUPPORT BOTH OUR EDUCATIONAL MISSION AND OUR PUBLICITY AND OUTREACH NEEDS. IN 2018, OTAKORP CONTINUED THE SPONSORSHIP OF ITS SECOND CONVENTION CALLED "OTAKON VEGAS". THIS WAS THE 5TH 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 BY THOSE INVOLVED IN THE CREATION, PRODUCTION, AND DISTRIBUTION OF ASIAN ART AND CULTURE. OUR 2018 EVENT BROUGHT IN AROUND 1,700 ATTENDEES OVER THE THREE-DAY WEEKEND AND WAS SUPPORTED BY 70 VOLUNTEER STAFF. IT HAD OVER 100 HOURS OF PANELS/WORKSHOPS AND 100 HOURS OF VIDEO PROGRAMMING CONTENT, INCLUDING THOSE FROM RELEVANT INDUSTRY PARTNERS. SINCE 2005, OTAKORP HAS DISPATCHED SMALL TEAMS TO TOKYO, JAPAN TO ATTEND MAJOR FESTIVALS RELEVANT TO OUR CROSS-CULTURAL MISSION. THESE EVENTS INCLUDE ANIMEJAPAN AND THE TOKYO INTERNATIONAL MUSIC MARKET. THESE ARE AN IMPORTANT OPPORTUNITY TO NETWORK AND MAINTAIN RELATIONSHIPS WITH OUR GUESTS AND INDUSTRY, WHICH ASSISTS US IN BRINGING RELEVANT GUESTS TO OUR EVENTS.
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