Civic Intelligence

Otakorp Inc.

990 • Fiscal year 2019 • EIN 25-1800552

Nov 01, 2018 to Oct 31, 2019 • Filed on Sep 15, 2020

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

1st percentile

-0.09x

Higher debt load relative to assets than 1% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

1st percentile

-0.01x

Higher debt load relative to revenue than 1% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

38th percentile

-0.1%

Higher net margin than 38% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

8th percentile

-16%

Faster asset growth than 8% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

21st percentile

-11%

Faster revenue growth than 21% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$352,216

Down $65,321 (-16%) from 2018

Net Assets

Down

$383,076

Down $24,864 (-6.1%) from 2018

Liabilities

Down

-$30,860

Down $40,457 (-422%) from 2018

Revenue

Down

$2,566,195

Down $315,634 (-11%) from 2018

Expenses

Down

$2,569,270

Down $150,579 (-5.5%) from 2018

Net Income

Down

-$3,075

Down $165,055 (-102%) from 2018

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

2019

Assets$352,216
Liabilities-$30,860
Net Assets$383,076

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

2019

Revenue$2,566,195
Expenses$2,569,270
Net Income-$3,075
Jump To
Filing Snapshot
Filing Period
Nov 1, 2018 to Oct 31, 2019
Signed
Sep 15, 2020
Return Version
2018v3.2
Gross Receipts
$2,616,014
Mission and Program Overview

Mission

To educate the public about asian culture

To foster an awareness and promote the appreciation of asian culture, primarily through its media and entertainment and the artistic community involved in their creation, by providing a forum for exhibition, discussion, workshops, and activities related to the same; moreover to provide an environment and support mechanism by which a similar artistic community can arise in the united states.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$398,957$346,683▼ $52,274
Land, Buildings, and Equipment, Net$13,276--
Accounts Receivable$5,304$5,533▲ $229
Total Assets$417,537$352,216▼ $65,321
Liabilities
Other Liabilities$9,597$-30,860▼ $40,457
Total Liabilities$9,597$-30,860▼ $40,457
Net Assets / Fund Balance
Unrestricted Net Assets$407,940$383,076▼ $24,864
Total Net Assets Fund Balance$407,940$383,076▼ $24,864
Total Liabilities and Net Assets / Fund Balance$417,537$352,216▼ $65,321

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$-16,320$277,321$261,001
Other Land Buildings$16,320-$16,320
Compensation and Service Providers

Board Members and Trustees

NameTitle
Nicholas AvgerinosPresident
Joey BrunoComptroller
Elizabeth CutlerCorrespondin
Amanda MatherMember at La
Brian CutlerMember at La
Jenn SmiechowskiMember at La
John GluthMember at La
Kate LeitkowskiMember at La
Lee FennerMember at La
Libby CutlerMember at La
Michael PorterMember at La
Rachael JacksonMember at La
Ryan SmithMember at La
Sarah MurmmertMember at La
Takayuki KarahasiMember at La
Rachael McclearyRecording Se
Matt RosenbergerTreasurer
Brian KernVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Dsl Sound INCAudio Visual Sv67 W BALTIMORE ST STE 101, Hagerstown, MD 21740$485,047
Hargrove INCDisplay ServiceONE HARGROVE DRIVE, Lanham, MD 20706$251,698
Revenue and Support

Revenue Composition

Contributions and Grants
$3,421
Program Service Revenue
$2,567,873
Investment Income
$0
Other Revenue
$-5,099
All Other Contributions
$3,421
Change in Net Assets
$-3,075
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,569,270
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$1,863,550$7,290-$1,870,840
Fees for Services Legal-$165,053-$165,053
Travel$121,389$4,345-$125,734
Office Expenses$98,937--$98,937
Advertising-$47,974-$47,974
Occupancy-$44,647-$44,647
Information Technology-$40,744-$40,744
Fees for Services Accounting-$29,407-$29,407
Depreciation Depletion$13,276--$13,276
Insurance-$1,841-$1,841
Other Expenses-$86-$86
Total Functional Expenses$2,097,152$472,118$0$2,569,270
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card Payable$-30,860
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

Brian cutler elizabether cutler member at la secretary 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
Nicholas Avgerinos
Title
President
Signed
2020-09-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicholas Avgerinos
Formed
1994
Legal Domicile
Pa
Voting Board Members
145
Independent Board Members
145
Employees
0
Volunteers
761

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 - ORGANIZATION'S MISSION

To foster an awareness and promote the appreciation of asian culture, primarily through its media and entertainment and the artistic community involved in their creation, by providing a forum for exhibition, discussion, workshops, and activities related to the same; moreover to provide an environment and support mechanism by which a similar artistic community can arise in the united states.

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

Otakorp 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 of asian art and culture. 2019 was our third year holding otakon in washington, dc and was supported by over 750 volunteer staff. Otakon's attendance remained steady, as it drew over 28,000 members over each of three days. Our presence in washington, dc has allowed us to continue our work with the embassy of japan and 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.

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/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDE
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IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER AT LA
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IRS990/ProgSrvcAccomActy2Grp/Desc0IN 2019, OTAKORP, INC. HOSTED JOINT EVENTS IN CONJUNCTION WITH THE LIBRARY OF CONGRESS WHICH ENABLED OTAKORP, INC. TO EXPAND THE OUTREACH AND AUDIENCE OF ITS PROMOTION OF ASIAN CULTURE, MEDIA, AND ENTERTAINMENT BEYOND THE PRIVATE SECTOR.
IRS990/ProgSrvcAccomActy3Grp/Desc0SINCE 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO FOSTER AN AWARENESS AND PROMOTE THE APPRECIATION OF ASIAN CULTURE, PRIMARILY THROUGH ITS MEDIA AND ENTERTAINMENT AND THE ARTISTIC COMMUNITY INVOLVED IN THEIR CREATION, BY PROVIDING A FORUM FOR EXHIBITION, DISCUSSION, WORKSHOPS, AND ACTIVITIES RELATED TO THE SAME; MOREOVER TO PROVIDE AN ENVIRONMENT AND SUPPORT MECHANISM BY WHICH A SIMILAR ARTISTIC COMMUNITY CAN ARISE IN THE UNITED STATES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OTAKORP 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 OF ASIAN ART AND CULTURE. 2019 WAS OUR THIRD YEAR HOLDING OTAKON IN WASHINGTON, DC AND WAS SUPPORTED BY OVER 750 VOLUNTEER STAFF. OTAKON'S ATTENDANCE REMAINED STEADY, AS IT DREW OVER 28,000 MEMBERS OVER EACH OF THREE DAYS. OUR PRESENCE IN WASHINGTON, DC HAS ALLOWED US TO CONTINUE OUR WORK WITH THE EMBASSY OF JAPAN AND 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BRIAN CUTLER ELIZABETHER CUTLER MEMBER AT LA SECRETARY HUSBAND AND WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3REVIEW IS CONDUCTED BY THE OFFICERS AND THE ENTIRE BOARD PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ACTIONS ARE REVIEWED AT ALL BOARD MEETINGS AND DISCIPLINE IS ENFORCED ACCORDINGLY. DISCIPLINE IS USUALLY TERMINATION OF MEMBERSHIP AND DISASSOCIATION FROM THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6JAPAN 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.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
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