Civic Intelligence

World Tang Soo Do Foundation

990 • Fiscal year 2014 • EIN 42-1541371

Jan 01, 2014 to Dec 31, 2014 • Filed on Sep 01, 2015

Organization ProfileWWW.WTSDA.COM
2436 Hanford RoadBurlington, NC 27215

(215) 468-2121

Siviq Scores

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

Liabilities / Assets

48th percentile

0.19x

Higher debt load relative to assets than 48% of similar nonprofits.

2014 filings • NTEE S • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

81st percentile

1.83x

Higher debt load relative to revenue than 81% of similar nonprofits.

2014 filings • NTEE S • $1M-$5M nonprofits • Source year 2014

Net Margin

94th percentile

89%

Higher net margin than 94% of similar nonprofits.

2014 filings • NTEE S • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

38th percentile

$53,670

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 13.2% of source-year revenue.

2014 filings • NTEE S • $1M-$5M nonprofits • Source year 2014

Asset Growth

67th percentile

6.3%

Faster asset growth than 67% of similar nonprofits.

2014 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

91st percentile

89%

Faster revenue growth than 91% of similar nonprofits.

2014 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets48th percentile

Assets

Up

$3,883,781

Up $230,899 (+6.3%) from 2013

Net Assets

Up

$3,135,603

Up $361,007 (+13%) from 2013

Liabilities

Down

$748,178

Down $130,108 (-15%) from 2013

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin94th percentile

Revenue

Up

$407,743

Up $191,633 (+89%) from 2013

Expenses

Down

$46,736

Down $4,327 (-8.5%) from 2013

Net Income

Up

$361,007

Up $195,960 (+119%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth67th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2010: $1,847,710Liabilities 2010: $0Net Assets 2010: $1,847,7102010Assets 2011: $2,866,462Liabilities 2011: $561,477Net Assets 2011: $2,304,9852011Assets 2012: $3,514,847Liabilities 2012: $905,298Net Assets 2012: $2,609,5492012Assets 2013: $3,652,882Liabilities 2013: $878,286Net Assets 2013: $2,774,5962013Assets 2014: $3,883,781Liabilities 2014: $748,178Net Assets 2014: $3,135,6032014Assets 2015: $3,894,966Liabilities 2015: $610,261Net Assets 2015: $3,284,7052015Assets 2016: $3,798,252Liabilities 2016: $225,376Net Assets 2016: $3,572,8762016Assets 2017: $3,740,997Liabilities 2017: $0Net Assets 2017: $3,740,9972017Assets 2018: $3,883,909Liabilities 2018: $5,695Net Assets 2018: $3,878,2142018Assets 2019: $3,897,194Liabilities 2019: $0Net Assets 2019: $3,897,1942019Assets 2020: $3,896,226Liabilities 2020: $0Net Assets 2020: $3,896,2262020Assets 2021: $3,885,681Liabilities 2021: $0Net Assets 2021: $3,885,6812021Assets 2022: $4,196,057Liabilities 2022: $0Net Assets 2022: $4,196,0572022Assets 2023: $4,367,426Liabilities 2023: $18,778Net Assets 2023: $4,348,6482023Assets 2024: $4,502,961Liabilities 2024: $15,778Net Assets 2024: $4,487,1832024

Highlighted filing

2014

Assets$3,883,781
Liabilities$748,178
Net Assets$3,135,603
Open 2014 Filing

Operations Trend

Revenue Growth91st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KExpenses 2010: $36,2522010Expenses 2011: $41,9182011Expenses 2012: $119,3822012Revenue 2013: $216,110Expenses 2013: $51,063Net Income 2013: $165,0472013Revenue 2014: $407,743Expenses 2014: $46,736Net Income 2014: $361,0072014Revenue 2015: $230,964Expenses 2015: $81,862Net Income 2015: $149,1022015Revenue 2016: $335,972Expenses 2016: $47,801Net Income 2016: $288,1712016Revenue 2017: $254,467Expenses 2017: $86,346Net Income 2017: $168,1212017Revenue 2018: $192,657Expenses 2018: $55,440Net Income 2018: $137,2172018Revenue 2019: $159,434Expenses 2019: $154,121Net Income 2019: $5,3132019Revenue 2020: $62,741Expenses 2020: $63,709Net Income 2020: -$9682020Revenue 2021: $44,343Expenses 2021: $54,888Net Income 2021: -$10,5452021Revenue 2022: $295,109Expenses 2022: $91,885Net Income 2022: $203,2242022Revenue 2023: $95,633Expenses 2023: $80,694Net Income 2023: $14,9392023Revenue 2024: $351,447Expenses 2024: $137,240Net Income 2024: $214,2072024

Highlighted filing

2014

Revenue$407,743
Expenses$46,736
Net Income$361,007
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Sep 1, 2015
Return Version
2014v5.0
Gross Receipts
$507,308
Mission and Program Overview

Mission

Nurture the educational growth and development via academic scholarship and promote the ideal of being a positive influence and productive participant in the community. Also raising capital to build a headquarters where members can train and take lessons back to their respective studios.

Nurture the educational growth and development and promote the ideal of being a positive influence and productive participant in the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,341,160$3,475,784▲ $134,624
Cash and Non-Interest-Bearing Accounts$165,736$208,690▲ $42,954
Inventories for Sale or Use$96,861$102,119▲ $5,258
Savings and Temporary Cash Investments$40,637$90,668▲ $50,031
Intangible Assets$8,488$6,520▼ $1,968
Total Assets$3,652,882$3,883,781▲ $230,899
Liabilities
Mortgage Notes Payable Secured by Investment Property$878,286$748,178▼ $130,108
Total Liabilities$878,286$748,178▼ $130,108
Net Assets / Fund Balance
Unrestricted Net Assets$2,774,596$3,135,603▲ $361,007
Total Net Assets Fund Balance$2,774,596$3,135,603▲ $361,007
Total Liabilities and Net Assets / Fund Balance$3,652,882$3,883,781▲ $230,899

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,401,188$150,797$2,551,985
Land$1,069,079-$1,069,079
Equipment$5,517$5,898$11,415
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Gideon LeeChief of Staff-$53,670$53,670
Robert BeaudoinChairPT$26,000$26,000

Board Members and Trustees

NameTitle
Michael KayeBuilding Fund Chair
Mike MolinaroScholarship Fund Chair
Kristen WinskoSecretary, Legal Affairs C
Sanford LipsteinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$379,288
Program Service Revenue
$0
Investment Income
$72
Other Revenue
$28,383
All Other Contributions
$279,288
Change in Net Assets
$361,007
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$27,350
Other Expenses$19,386
Total Fundraising Expense$6,355
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$27,350--$27,350
Depreciation Depletion-$8,506-$8,506
Office Expenses--$6,355$6,355
Interest-$4,525-$4,525
Total Functional Expenses$27,350$13,031$6,355$46,736
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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, Part VI, Section B, Line 11

“The 990 is reviewed by the treasurer and general counsel prior to filing.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
World Tang Soo Do Foundation
EIN
42-1541371
Phone
2154682121
Address
2436 HANFORD ROAD, BURLINGTON, NC 27215

Signing Officer

Name
Sandy Lipstein
Title
Treasurer
Phone
2154682121
Signed
2015-09-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Beaudoin
Formed
2002
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
4
Employees
0
Volunteers
100

Preparer

Firm
Cliftonlarsonallen Llp
Address
610 W GERMANTOWN PIKE STE 400, PLYMOUTH MEETING, PA 19462
Preparer
Bruce Braunewellcpa
Phone
2156433900
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The foundation has been granted exemption from federal income tax under the provisions of section 501(c)(3) of the internal revenue code. Further, the foundation has been granted public charity status and, therefore, is not considered a private foundation. The foundation follows the income tax standard for uncertain tax positions. The application of the standard has no effect on the net assets of the foundation.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/EquipmentGrp/DepreciationAmt05898
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt011415
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt01069079
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01069079
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAS BEEN GRANTED EXEMPTION FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. FURTHER, THE FOUNDATION HAS BEEN GRANTED PUBLIC CHARITY STATUS AND, THEREFORE, IS NOT CONSIDERED A PRIVATE FOUNDATION. THE FOUNDATION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THE APPLICATION OF THE STANDARD HAS NO EFFECT ON THE NET ASSETS OF THE FOUNDATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03475784
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt027350
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt018
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0CASH
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIP RECIPIENTS ARE ALL ACTIVE TANG SOO DO STUDENTS AND TYPICALLY CONTINUE THEIR MARTIAL ARTS TRAINING. AS SUCH, THE WORLD TANG SOO DO FOUNDATION MAINTAINS CONTACT WITH ALL RECIPIENTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS REVIEWED BY THE TREASURER AND GENERAL COUNSEL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0WORLD TANG SOO DO ASSOCIATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0222429979
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PROMOTION OF TANG SOO DO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02436 HANFORD RD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BURLINGTON
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027215
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt03652882
IRS990/TotalAssetsEOYAmt03883781
IRS990/TotalAssetsGrp/BOYAmt03652882
IRS990/TotalAssetsGrp/EOYAmt03883781
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0379288
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06355
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt013031
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt027350
IRS990/TotalFunctionalExpensesGrp/TotalAmt046736
IRS990/TotalGrossUBIAmt0-24205
IRS990/TotalLiabilitiesBOYAmt0878286
IRS990/TotalLiabilitiesEOYAmt0748178
IRS990/TotalLiabilitiesGrp/BOYAmt0878286
IRS990/TotalLiabilitiesGrp/EOYAmt0748178
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02774596
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03135603
IRS990/TotalOtherCompensationAmt04200
IRS990/TotalProgramServiceExpensesAmt027350
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0-15719
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt052588
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0407743
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0-8414
IRS990/TotalVolunteersCnt0100
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03652882
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03883781
IRS990/TotReportableCompRltdOrgAmt075470
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02774596
IRS990/UnrestrictedNetAssetsGrp/EOYAmt03135603
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02436 HANFORD ROAD
IRS990/USAddress/CityNm0BURLINGTON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027215
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.WTSDA.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SANDY LIPSTEIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02154682121
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-09-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WORLD TANG SOO DO FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0WORL
ReturnHeader/Filer/EIN0421541371
ReturnHeader/Filer/PhoneNum02154682121
ReturnHeader/Filer/USAddress/AddressLine1Txt02436 HANFORD ROAD
ReturnHeader/Filer/USAddress/CityNm0BURLINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027215
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0610 W GERMANTOWN PIKE STE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PLYMOUTH MEETING
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd019462
ReturnHeader/PreparerPersonGrp/PhoneNum02156433900
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRUCE BRAUNEWELLCPA
ReturnHeader/ReturnTs02015-10-15T12:08:08-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,883,781
Liabilities
$748,178
Net assets
$3,135,603
Revenue
$407,743
Expenses
$46,736
Net income
$361,007
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.50$0.02$4.49$0.35$0.14$0.21
2023Detailed filing. Detailed filing data is available for this year.$4.37$0.02$4.35$0.10$0.08$0.01
2022Detailed filing. Detailed filing data is available for this year.$4.20$0.00$4.20$0.30$0.09$0.20
2021Detailed filing. Detailed filing data is available for this year.$3.89$0.00$3.89$0.04$0.05$0.01
2020Detailed filing. Detailed filing data is available for this year.$3.90$0.00$3.90$0.06$0.06$0.00
2019Detailed filing. Detailed filing data is available for this year.$3.90$0.00$3.90$0.16$0.15$0.01
2018Detailed filing. Detailed filing data is available for this year.$3.88$0.01$3.88$0.19$0.06$0.14
2017Detailed filing. Detailed filing data is available for this year.$3.74$0.00$3.74$0.25$0.09$0.17
2016Detailed filing. Detailed filing data is available for this year.$3.80$0.23$3.57$0.34$0.05$0.29
2015Detailed filing. Detailed filing data is available for this year.$3.89$0.61$3.28$0.23$0.08$0.15
2014Detailed filing. Detailed filing data is available for this year.$3.88$0.75$3.14$0.41$0.05$0.36
2013Detailed filing. Detailed filing data is available for this year.$3.65$0.88$2.77$0.22$0.05$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.51$0.91$2.61$0.12
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.87$0.56$2.30$0.04
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.85$0.00$1.85$0.04