Civic Intelligence

Otakorp Inc.

990 • Fiscal year 2021 • EIN 25-1800552

Nov 01, 2020 to Oct 31, 2021 • Filed on Jun 02, 2022

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

62nd percentile

0.14x

Higher debt load relative to assets than 62% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

38th percentile

0.04x

Higher debt load relative to revenue than 38% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

55th percentile

16%

Higher net margin than 55% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

96th percentile

175%

Faster asset growth than 96% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

97th percentile

402%

Faster revenue growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Up

$526,333

Up $335,058 (+175%) from 2020

Net Assets

Up

$450,598

Up $287,436 (+176%) from 2020

Liabilities

Up

$75,735

Up $47,622 (+169%) from 2020

Revenue

Up

$1,832,562

Up $1,467,460 (+402%) from 2020

Expenses

Up

$1,545,126

Up $960,110 (+164%) from 2020

Net Income

Up

$287,436

Up $507,350 (+231%) from 2020

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

2021

Assets$526,333
Liabilities$75,735
Net Assets$450,598

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

2021

Revenue$1,832,562
Expenses$1,545,126
Net Income$287,436
Jump To
Filing Snapshot
Filing Period
Nov 1, 2020 to Oct 31, 2021
Signed
Jun 2, 2022
Return Version
2020v4.0
Gross Receipts
$1,832,562
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$188,843$523,901▲ $335,058
Accounts Receivable$2,432$2,432→ $0
Total Assets$191,275$526,333▲ $335,058
Liabilities
Other Liabilities$28,113$75,735▲ $47,622
Total Liabilities$28,113$75,735▲ $47,622
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$163,162$450,598▲ $287,436
Total Net Assets Fund Balance$163,162$450,598▲ $287,436
Total Liabilities and Net Assets / Fund Balance$191,275$526,333▲ $335,058

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
Jonathan NoriMember at La
Lee FennerMember at La
Libby CutlerMember at La
Nick AvgerinosMember at La
Simon ChambersMember at La
Sue MonroeMember at La
Victoria MacenteeMember at La
Matthew GravesRecording Se
Rachael McclearyRecording Se
Matt SmiechowskiTreasurer
Brian CutlerVice Preside
Rachel JacksonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$46,274
Program Service Revenue
$1,758,352
Investment Income
$0
Other Revenue
$27,936
All Other Contributions
$46,274
Change in Net Assets
$287,436
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,545,126
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$1,244,051--$1,244,051
Fees for Services Legal-$77,756-$77,756
Occupancy-$44,416-$44,416
Information Technology-$36,132-$36,132
Office Expenses$32,089--$32,089
Travel-$22,915-$22,915
Fees for Services Accounting-$15,661-$15,661
Insurance-$2,238-$2,238
Other Expenses-$742-$742
Total Functional Expenses$1,276,140$268,986$0$1,545,126
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$70,067
Sales Tax$3,075
Divy$1,307
Withholding$1,286
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 vice preside secretary husband and wife brian cutler libby cutler vice preside 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
2022-06-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brooke Zerrlaut
Formed
1994
Legal Domicile
Pa
Voting Board Members
144
Independent Board Members
144
Employees
0
Volunteers
978

Preparer

Firm
Diana M Reed & Associates Pc
Address
1505 E CHOCOLATE AVE, HERSHEY, PA 17033
Preparer
Diana M Reed-reynolds
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. Sponsored its annual meeting as an in-person event. This 3- day educational and immersive festival of asian popular arts and culture, called otakon, included 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. In 2021 our event was one of the first events of its kind to return in the washington d.c. Area, supported by 560 in person volunteers and 100 volunteers working remotely. Otakon's attendance was much better than anticipated with 25,564 attendees over each of the three days. Notably our covid precautions were strong as there were no reported outbreaks from our event. Our presence in washington, dc was welcomed by many local representatives, the embassy of japan, the embassy of the republic of korea, and national organizations such as the library of congress. The event is one of the largest of its type in the united states and has been our primary event since the founding of the corporation.

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IRS990/OtherExpensesGrp/Desc2COMMUNICATIONS
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IRS990/PrincipalOfficerNm0BROOKE ZERRLAUT
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IRS990/ProgSrvcAccomActy2Grp/Desc0IN 2021, 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 CONTINUED TO DEVELOP OTAKORP, INC.'S OUTREACH IN PROMOTING ASIAN CULTURE, MEDIA, AND ENTERTAINMENT IN THE UNITED STATES.
IRS990/ProgSrvcAccomActy3Grp/Desc0OTAKORP, INC. CONTINUED TO DEVELOP ITS RELATIONSHIPS WITH THE EMBASSY OF THE REPUBLIC OF KOREA AND THE EMBASSY OF JAPAN IN ORDER TO CONTINUE OUR CROSS-CULTURAL MISSION. FURTHERMORE, WE WORKED WITH BOTH JAPAN AND SOUTH KOREA'S ARTISTIC COMMUNITIES AND POPULAR ARTS INDUSTRIES TO BRING PROGRAMING, EXHIBITIONS, AND DISCUSSION OF THEIR MEDIA, ENTERTAINMENT, AND CULTURE TO OTAKON. THIS CONTINUED NETWORKING WAS IMPORTANT IN SUPPORTING A RETURN TO IN-PERSON FORUMS AND TO SUPPORT AND FOSTER SIMILAR ARTISTIC COMMUNITIES IN THE UNITED STATES AS IT BECAME SAFE TO DO SO.
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IRS990/ReportOtherLiabilitiesInd0true
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01170
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt051583
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt010597940
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IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt016320
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21307
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt31286
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DIVY
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IRS990ScheduleD/TotalLiabilityAmt075735
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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. SPONSORED ITS ANNUAL MEETING AS AN IN-PERSON EVENT. THIS 3- DAY EDUCATIONAL AND IMMERSIVE FESTIVAL OF ASIAN POPULAR ARTS AND CULTURE, CALLED OTAKON, INCLUDED 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. IN 2021 OUR EVENT WAS ONE OF THE FIRST EVENTS OF ITS KIND TO RETURN IN THE WASHINGTON D.C. AREA, SUPPORTED BY 560 IN PERSON VOLUNTEERS AND 100 VOLUNTEERS WORKING REMOTELY. OTAKON'S ATTENDANCE WAS MUCH BETTER THAN ANTICIPATED WITH 25,564 ATTENDEES OVER EACH OF THE THREE DAYS. NOTABLY OUR COVID PRECAUTIONS WERE STRONG AS THERE WERE NO REPORTED OUTBREAKS FROM OUR EVENT. OUR PRESENCE IN WASHINGTON, DC WAS WELCOMED BY MANY LOCAL REPRESENTATIVES, THE EMBASSY OF JAPAN, THE EMBASSY OF THE REPUBLIC OF KOREA, AND NATIONAL ORGANIZATIONS SUCH AS THE LIBRARY OF CONGRESS. THE EVENT IS ONE OF THE LARGEST OF ITS TYPE IN THE UNITED STATES AND HAS BEEN OUR PRIMARY EVENT SINCE THE FOUNDING OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BRIAN CUTLER ELIZABETH CUTLER VICE PRESIDE SECRETARY HUSBAND AND WIFE BRIAN CUTLER LIBBY CUTLER VICE PRESIDE 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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IRS990/USAddress/AddressLine1Txt06710 F RITCHIE HWY 332
IRS990/USAddress/CityNm0GLEN BURNIE
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