Civic Intelligence

Otakorp Inc.

990 • Fiscal year 2020 • EIN 25-1800552

Nov 01, 2019 to Oct 31, 2020 • Filed on Apr 12, 2020

6710 F Ritchie Hwy 332Glen Burnie, MD 21061

(919) 247-0981

Siviq Scores

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

Liabilities / Assets

78th percentile

0.15x

Higher debt load relative to assets than 78% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

74th percentile

0.08x

Higher debt load relative to revenue than 74% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

11th percentile

-60%

Higher net margin than 11% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

9th percentile

-46%

Faster asset growth than 9% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

7th percentile

-86%

Faster revenue growth than 7% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Down

$191,275

Down $160,941 (-46%) from 2019

Net Assets

Down

$163,162

Down $219,914 (-57%) from 2019

Liabilities

Up

$28,113

Up $58,973 (+191%) from 2019

Revenue

Down

$365,102

Down $2,201,093 (-86%) from 2019

Expenses

Down

$585,016

Down $1,984,254 (-77%) from 2019

Net Income

Down

-$219,914

Down $216,839 (-7052%) from 2019

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

2020

Assets$191,275
Liabilities$28,113
Net Assets$163,162

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

2020

Revenue$365,102
Expenses$585,016
Net Income-$219,914
Jump To
Filing Snapshot
Filing Period
Nov 1, 2019 to Oct 31, 2020
Signed
Apr 12, 2020
Return Version
2019v5.0
Gross Receipts
$365,102
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$346,683$188,843▼ $157,840
Accounts Receivable$5,533$2,432▼ $3,101
Total Assets$352,216$191,275▼ $160,941
Liabilities
Other Liabilities$-30,860$28,113▲ $58,973
Total Liabilities$-30,860$28,113▲ $58,973
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$383,076$163,162▼ $219,914
Total Net Assets Fund Balance$383,076$163,162▼ $219,914
Total Liabilities and Net Assets / Fund Balance$352,216$191,275▼ $160,941

Asset Categories

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

Board Members and Trustees

NameTitle
Brooke ZerrlautPresident
Joey BrunoComptroller
Elizabeth CutlerCorrespondin
Brian CutlerMember at La
John GluthMember at La
Jonathan NoriMember at La
Kate LeitkowskiMember at La
Kim MeraniMember at La
Lee FennerMember at La
Libby CutlerMember at La
Michael PorterMember at La
Nick AvgerinosMember at La
Ryan SmithMember at La
Simon ChambersMember at La
Takayuki KarahasiMember at La
Rachael McclearyRecording Se
Matt RosenbergerTreasurer
Matt SmeichowskiTreasurer
Rachel JacksonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$718
Program Service Revenue
$359,265
Investment Income
$0
Other Revenue
$5,119
All Other Contributions
$718
Change in Net Assets
$-219,914
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$585,016
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$211,157$3,366-$214,523
Fees for Services Legal-$117,822-$117,822
Occupancy-$49,276-$49,276
Information Technology-$35,341-$35,341
Fees for Services Accounting-$30,875-$30,875
Office Expenses$21,632--$21,632
Advertising-$15,044-$15,044
Insurance-$3,702-$3,702
Travel-$1,940-$1,940
Other Expenses-$15-$15
Total Functional Expenses$232,789$352,227$0$585,016
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$24,178
Sales Tax$3,075
Withholding$1,286
Divy$-426
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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 elizabeth cutler member at la secretary husband and wife brian cutler libby cutler member at la member at la father and daughter elizabeth cutler libby cutler secretary member at la mother and daughter

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
6710 F RITCHIE HWY 332, GLEN BURNIE, MD 21061

Signing Officer

Name
Brooke Zerrlaut
Title
President
Signed
2020-04-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brooke Zerrlaut
Formed
1994
Legal Domicile
Pa
Voting Board Members
121
Independent Board Members
121
Employees
0
Volunteers
227

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. Hosted an educational and immersive virtual event, otakon.online, which included panels, lectures, workshops, concerts, film and video presentations, and virtual appearances by those involved in the creation, production, and distribution of asian art and culture. Otakon.online was otakorp, inc.'s first virtual event and it was supported by 50 volunteer staff and attended by 6800 members. The success of otakon.online demonstrates an exciting opportunity for otakorp, inc. To expand its mission of promoting and celebrating asian culture to new forums and reach a broader audience. For example, the virtual format allowed otakorp, inc. To continue its collaboration with the embassy of japan during a year in which in-person participation was impossible, through the embassy of japan's presentation on "the legend of zelda and japanese religion" at otakon.online.

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IRS990/MissionDesc0TO 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.
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IRS990/PrincipalOfficerNm0BROOKE ZERRLAUT
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IRS990/ProgSrvcAccomActy2Grp/Desc0IN 2020, OTAKORP, INC. COORDINATED WITH THE JAPAN-AMERICA SOCIETY OF WASHINGTON, D.C. TO SPONSOR THE SAKURA MATSURI JAPANESE STREET FESTIVAL IN WASHINGTON, D.C., WHICH WOULD HAVE CONTINUED TO DEVELOP OTAKORP, INC.'S OUTREACH IN PROMOTING ASIAN CULTURE, MEDIA AND ENTERTAINMENT IN THE UNITED STATES, HAD THE COVID 19 PANDEMIC NOT FORCED THE FESTIVAL TO BE POSTPONED UNTIL A FUTURE DATE.
IRS990/ProgSrvcAccomActy3Grp/Desc0OTAKORP, INC. INITIATED A RELATIONSHIP WITH THE EMBASSY OF THE REPUBLIC OF KOREA IN ORDER TO CONTINUE OUR CROSS-CULTURAL MISSION. FURTHERMORE, WE WORKED WITH JAPAN'S ARTISTIC COMMUNITY AND ITS POPULAR ARTS INDUSTRY TO BRING PROGRAMMING, EXHIBITIONS, AND DISCUSSION ON JAPANESE MEDIA, ENTERTAINMENT, AND CULTURE TO OTAKON.ONLINE. THIS WAS AN IMPORTANT OPPORTUNITY TO NETWORK AND MAINTAIN RELATIONSHIPS WITH OUR JAPANESE GUESTS AND INDUSTRY, IN ANTICIPATION OF THEIR PARTICIPATION IN OTAKORP'S EFFORTS TO PROVIDE AN IN-PERSON FORUM AND SUPPORT MECHANISM TO FOSTER A SIMILAR ARTISTIC COMMUNITY IN THE UNITED STATES AS SOON AS IT IS SAFE TO DO SO.
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01170
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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. HOSTED AN EDUCATIONAL AND IMMERSIVE VIRTUAL EVENT, OTAKON.ONLINE, WHICH INCLUDED PANELS, LECTURES, WORKSHOPS, CONCERTS, FILM AND VIDEO PRESENTATIONS, AND VIRTUAL APPEARANCES BY THOSE INVOLVED IN THE CREATION, PRODUCTION, AND DISTRIBUTION OF ASIAN ART AND CULTURE. OTAKON.ONLINE WAS OTAKORP, INC.'S FIRST VIRTUAL EVENT AND IT WAS SUPPORTED BY 50 VOLUNTEER STAFF AND ATTENDED BY 6800 MEMBERS. THE SUCCESS OF OTAKON.ONLINE DEMONSTRATES AN EXCITING OPPORTUNITY FOR OTAKORP, INC. TO EXPAND ITS MISSION OF PROMOTING AND CELEBRATING ASIAN CULTURE TO NEW FORUMS AND REACH A BROADER AUDIENCE. FOR EXAMPLE, THE VIRTUAL FORMAT ALLOWED OTAKORP, INC. TO CONTINUE ITS COLLABORATION WITH THE EMBASSY OF JAPAN DURING A YEAR IN WHICH IN-PERSON PARTICIPATION WAS IMPOSSIBLE, THROUGH THE EMBASSY OF JAPAN'S PRESENTATION ON "THE LEGEND OF ZELDA AND JAPANESE RELIGION" AT OTAKON.ONLINE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BRIAN CUTLER ELIZABETH CUTLER MEMBER AT LA SECRETARY HUSBAND AND WIFE BRIAN CUTLER LIBBY CUTLER MEMBER AT LA MEMBER AT LA FATHER AND DAUGHTER ELIZABETH CUTLER LIBBY CUTLER SECRETARY MEMBER AT LA MOTHER AND DAUGHTER
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/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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