Civic Intelligence

Otakorp Inc.

990 • Fiscal year 2022 • EIN 25-1800552

Nov 01, 2022 to Dec 31, 2022 • Filed on Nov 08, 2023

961 Mercantile Dr Ste D/EHanover, MD 21076

(919) 247-0981

Siviq Scores

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

Liabilities / Assets

40th percentile

0.03x

Higher debt load relative to assets than 40% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

76th percentile

0.37x

Higher debt load relative to revenue than 76% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

89th percentile

48%

Higher net margin than 89% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

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.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

99th percentile

456%

Faster asset growth than 99% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-88%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$2,924,624

Up $2,398,291 (+456%) from 2021

Net Assets

Up

$2,844,471

Up $2,393,873 (+531%) from 2021

Liabilities

Up

$80,153

Up $4,418 (+5.8%) from 2021

Revenue

Down

$214,009

Down $1,618,553 (-88%) from 2021

Expenses

Down

$110,581

Down $1,434,545 (-93%) from 2021

Net Income

Down

$103,428

Down $184,008 (-64%) from 2021

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

2022

Assets$2,924,624
Liabilities$80,153
Net Assets$2,844,471

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

2022

Revenue$214,009
Expenses$110,581
Net Income$103,428
Jump To
Filing Snapshot
Filing Period
Nov 1, 2022 to Dec 31, 2022
Signed
Nov 8, 2023
Return Version
2022v5.0
Gross Receipts
$214,009
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$2,831,049$2,924,624▲ $93,575
Total Assets$2,831,049$2,924,624▲ $93,575
Liabilities
Other Liabilities$90,006$80,153▼ $9,853
Total Liabilities$90,006$80,153▼ $9,853
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,741,043$2,844,471▲ $103,428
Total Net Assets Fund Balance$2,741,043$2,844,471▲ $103,428
Total Liabilities and Net Assets / Fund Balance$2,831,049$2,924,624▲ $93,575

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
Robert Brian CutlerPresident
Joey BrunoComptroller
Mel HardyCorrespondin
Ken BrysonMember at La
Kimberly MiraniMember at La
Lacey KishterMember at La
Lee FennerMember at La
Simon ChambersMember at La
Simone BlanchatMember at La
Sue MonroeMember at La
Matthew GravesRecording Se
Matt SmiechowskiTreasurer
John GluthVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$686
Program Service Revenue
$212,404
Investment Income
$0
Other Revenue
$919
All Other Contributions
$686
Change in Net Assets
$103,428
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$110,581
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
Fees for Services Legal-$48,750-$48,750
Conferences and Meetings$20,178$1,213-$21,391
Occupancy-$18,613-$18,613
Other Expenses-$5,195-$5,195
Fees for Services Accounting-$4,818-$4,818
Information Technology-$4,045-$4,045
Travel-$3,855-$3,855
Insurance-$2,138-$2,138
Advertising-$1,755-$1,755
Office Expenses$21--$21
Total Functional Expenses$20,199$90,382$0$110,581
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$70,383
Divy$5,409
Sales Tax$3,075
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 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
961 MERCANTILE DR STE D/E, HANOVER, MD 21076

Signing Officer

Name
Matt Smiechowski
Title
Treasurer
Phone
2164064703
Signed
2023-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brooke Zerrlaut
Formed
1994
Legal Domicile
Pa
Voting Board Members
141
Independent Board Members
141
Employees
0
Volunteers
800

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.

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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0161704
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt150700
IRS990/ProgSrvcAccomActy2Grp/Desc0OTAKORP, INC. COORDINATED WITH A NUMBER OF OTHER REGIONAL EVENTS, SUCH AS NEKOCON AND PAX UNPLUGGED, TO CONTINUE ITS EFFORTS TO CROSS-PROMOTE INTEREST IN 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 FOLLOWED UP ON RECENTLY COMPLETED MEETINGS WITH REPRESENTATIVES OF 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 IS NECESSARY TO SUPPORT AND FOSTER SIMILAR ARTISTIC COMMUNITIES IN THE UNITED STATES.
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IRS990/PYOtherExpensesAmt02869647
IRS990/PYOtherRevenueAmt043646
IRS990/PYProgramServiceRevenueAmt03348082
IRS990/PYRevenuesLessExpensesAmt02290445
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IRS990/PYTotalRevenueAmt05160092
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0212404
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0686
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt04864
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt046274
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0718
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt03421
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt055963
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0213323
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt03391728
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01786288
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0362596
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt02612593
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt08366528
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/CurrentTaxYearMinus3YearsAmt0788
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt0788
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IRS990ScheduleA/PublicSupportPY509Pct00.99990
IRS990ScheduleA/PublicSupportTotal509Amt08422491
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0214009
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt03396592
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01832562
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0363314
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IRS990ScheduleA/Total509Grp/TotalAmt08422491
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0364102
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt02616014
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt08423279
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0261001
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0261001
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt016320
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt016320
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt070383
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt15409
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt23075
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt31286
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CREDIT CARD PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DIVY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SALES TAX
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3WITHHOLDING
IRS990ScheduleD/TotalLiabilityAmt080153
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/ExplanationTxt1REVIEW IS CONDUCTED BY THE OFFICERS AND THE ENTIRE BOARD PRIOR TO SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ACTIONS ARE REVIEWED AT ALL BOARD MEETINGS AND DISCIPLINE IS ENFORCED ACCORDINGLY. DISCIPLINE IS USUALLY TERMINATION OF MEMBERSHIP AND DISASSOCIATION FROM THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SpecialConditionDesc0CHANGE OF ACCOUNTING PERIOD
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt02924624
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IRS990/TotalAssetsGrp/EOYAmt02924624
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt020199
IRS990/TotalFunctionalExpensesGrp/TotalAmt0110581
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt090006
IRS990/TotalLiabilitiesEOYAmt080153
IRS990/TotalLiabilitiesGrp/BOYAmt090006
IRS990/TotalLiabilitiesGrp/EOYAmt080153
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02741043
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02844471
IRS990/TotalProgramServiceExpensesAmt020199
IRS990/TotalProgramServiceRevenueAmt0212404
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0213323
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0214009
IRS990/TotalVolunteersCnt0800
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02831049
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02924624
IRS990/TravelGrp/ManagementAndGeneralAmt03855
IRS990/TravelGrp/TotalAmt03855
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0961 MERCANTILE DR STE D/E
IRS990/USAddress/CityNm0HANOVER
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021076
IRS990/VotingMembersGoverningBodyCnt0141
IRS990/VotingMembersIndependentCnt0141
IRS990/WebsiteAddressTxt0WWW.OTAKORP.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MATT SMIECHOWSKI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02164064703
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OTAKORP INC
ReturnHeader/Filer/BusinessNameControlTxt0OTAK
ReturnHeader/Filer/EIN0251800552
ReturnHeader/Filer/USAddress/AddressLine1Txt0961 MERCANTILE DR STE D/E
ReturnHeader/Filer/USAddress/CityNm0HANOVER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021076
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0251877456
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DIANA M REED & ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01505 E CHOCOLATE AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HERSHEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd017033
ReturnHeader/PreparerPersonGrp/PhoneNum07175335513
ReturnHeader/PreparerPersonGrp/PreparationDt02024-09-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DIANA M REED-REYNOLDS
ReturnHeader/ReturnTs02024-09-11T09:53:46-04:00
ReturnHeader/ReturnTypeCd0990

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