Civic Intelligence

Mason Korea LLC

990 • Fiscal year 2014 • EIN 46-0603585

Jan 01, 2014 to Dec 31, 2014 • Filed on Jul 30, 2015

Organization ProfileMASONKOREA.GMU.EDU
4400 University Drive MS 4b2SuiteFairfax, VA 22030-4444

(703) 993-2483

Siviq Scores

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

Liabilities / Assets

97th percentile

1.50x

Higher debt load relative to assets than 97% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

74th percentile

0.41x

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

18th percentile

-12%

Higher net margin than 18% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

98th percentile

$495,705

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 18.8% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

4th percentile

-29%

Faster asset growth than 4% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

99th percentile

756%

Faster revenue growth than 99% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$727,227

Down $298,836 (-29%) from 2013

Net Assets

Down

-$363,569

Down $363,915 (-105178%) from 2013

Liabilities

Up

$1,090,796

Up $65,079 (+6.3%) from 2013

Revenue And Expenses
Liabilities / Revenue74th percentileNet Margin18th percentile

Revenue

Up

$2,631,462

Up $2,324,199 (+756%) from 2013

Expenses

Up

$2,952,642

Up $2,644,726 (+859%) from 2013

Net Income

Down

-$321,180

Down $320,527 (-49085%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2013: $1,026,063Liabilities 2013: $1,025,717Net Assets 2013: $3462013Assets 2014: $727,227Liabilities 2014: $1,090,796Net Assets 2014: -$363,5692014Assets 2015: $685,142Liabilities 2015: $1,618,945Net Assets 2015: -$933,8032015Assets 2016: $1,895,972Liabilities 2016: $1,407,632Net Assets 2016: $488,3402016Assets 2017: $3,128,381Liabilities 2017: $1,097,982Net Assets 2017: $2,030,3992017Assets 2018: $2,551,382Liabilities 2018: $901,253Net Assets 2018: $1,650,1292018Assets 2019: $3,959,656Liabilities 2019: $1,004,333Net Assets 2019: $2,955,3232019Assets 2020: $5,973,567Liabilities 2020: $448,921Net Assets 2020: $5,524,6462020Assets 2021: $8,225,008Liabilities 2021: $417,965Net Assets 2021: $7,807,0432021Assets 2022: $8,939,738Liabilities 2022: $591,472Net Assets 2022: $8,348,2662022Assets 2023: $10,746,824Liabilities 2023: $533,339Net Assets 2023: $10,213,4852023Assets 2024: $11,353,610Liabilities 2024: $545,132Net Assets 2024: $10,808,4782024

Highlighted filing

2014

Assets$727,227
Liabilities$1,090,796
Net Assets-$363,569
Open 2014 Filing

Operations Trend

Revenue Growth99th percentile

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2013: $307,263Expenses 2013: $307,916Net Income 2013: -$6532013Revenue 2014: $2,631,462Expenses 2014: $2,952,642Net Income 2014: -$321,1802014Revenue 2015: $4,237,484Expenses 2015: $4,843,416Net Income 2015: -$605,9322015Revenue 2016: $6,426,047Expenses 2016: $4,907,428Net Income 2016: $1,518,6192016Revenue 2017: $7,910,591Expenses 2017: $6,299,739Net Income 2017: $1,610,8522017Revenue 2018: $7,114,594Expenses 2018: $7,461,468Net Income 2018: -$346,8742018Revenue 2019: $8,665,276Expenses 2019: $7,368,377Net Income 2019: $1,296,8992019Revenue 2020: $10,577,033Expenses 2020: $8,544,662Net Income 2020: $2,032,3712020Revenue 2021: $12,324,735Expenses 2021: $9,486,077Net Income 2021: $2,838,6582021Revenue 2022: $11,788,194Expenses 2022: $10,890,563Net Income 2022: $897,6312022Revenue 2023: $13,917,472Expenses 2023: $11,971,610Net Income 2023: $1,945,8622023Revenue 2024: $15,707,964Expenses 2024: $13,376,351Net Income 2024: $2,331,6132024

Highlighted filing

2014

Revenue$2,631,462
Expenses$2,952,642
Net Income-$321,180
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jul 30, 2015
Return Version
2014v5.0
Gross Receipts
$2,631,462
Mission and Program Overview

Mission

Mason korea, llc is a not-for-profit corporation established to operate a branch campus of george mason university in the republic of korea

Operate a branch campus of george mason university in the republic of korea

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,022,882$710,813▼ $312,069
Prepaid Expenses and Deferred Charges$3,181$16,259▲ $13,078
Pd in Cap Srpls Land Bldg Eqp Fund$1,000$1,000→ $0
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-654$-364,569▼ $363,915
Total Assets$1,026,063$727,227▼ $298,836
Other Assets Total$0$155▲ $155
Liabilities
Unsecured Notes Loans Payable$0$485,928▲ $485,928
Deferred Revenue$828,790$283,829▼ $544,961
Other Liabilities$0$259,757▲ $259,757
Accounts Payable and Accrued Expenses$196,927$61,282▼ $135,645
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,025,717$1,090,796▲ $65,079
Net Assets / Fund Balance
Total Net Assets Fund Balance$346$-363,569▼ $363,915
Total Liabilities and Net Assets / Fund Balance$1,026,063$727,227▼ $298,836
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Solon SimmonsBoard Member-$148,871$148,871
Gbemisola DisuChief Operating OfficerFT$130,573$130,573

Board Members and Trustees

NameTitle
David WuChairman
Peter StearnsChairman
Joy HughesPresident
Matthew ZingraffPresident
Anne SchillerBoard Member
Deborah Boehm-DavisBoard Member
Elizabeth BrockBoard Member
Frank NevilleBoard Member
Jack CenserBoard Member
Jorge HaddockBoard Member
Kunmo ChungBoard Member
Sarah NutterBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$1,676,702
Program Service Revenue
$951,937
Investment Income
$12
Other Revenue
$2,811
All Other Contributions
$434
Change in Net Assets
$-321,180

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,447,384
Revenue Not Reported on Financial Statements
$184,078
Revenue Not Reported on Form 990
$53,222
Other Revenue Adjustments
$184,078
Total Revenue per Audited Statements
$2,500,606
Total Revenue per Form 990
$2,631,462
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,290,921
Salaries, Compensation, and Employee Benefits$477,643
Grants and Similar Amounts Paid$184,078
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates-$1,387,683-$1,387,683
Other Salaries and Wages$110,471$311,218-$421,689
Advertising$356,946--$356,946
Foreign Grants$184,078--$184,078
Fees for Services Legal-$136,680-$136,680
Travel-$77,424-$77,424
Office Expenses-$60,249-$60,249
Insurance-$60,169-$60,169
Fees for Services Other$51,947$1,760-$53,707
Other Employee Benefits$11,629$32,763-$44,392
Conferences and Meetings$43,250--$43,250
All Other Expenses$4,839$28,345-$33,184
Fees for Services Accounting-$24,429-$24,429
Occupancy-$19,967-$19,967
Pension Plan Contributions$3,029$8,533-$11,562
Other Expenses$9,909$5,081-$5,081
Total Functional Expenses$798,341$2,154,301$0$2,952,642

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,952,642
Total Expenses per Audited Statements$2,821,786
Expenses per Audited Statements$2,768,564
Expenses Not Reported on Financial Statements$184,078
Other Expense Adjustments$184,078
Expenses Not Reported on Form 990$53,222
International Activity

International Summary

Offices
1
Employees
38
Spending
$2,376,655

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the PacificProgram Serviceseducation138$2,376,655
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to George Mason University$234,842
Employee Retirement Liability$24,915
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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, Part VI, Line 2

“Matthew zingraff and anne schiller are related through marriage”

Form 990, Part VI, Line 12C

“Mason korea's conflict of interest policy states that each board member annually signs and submits conflict of interest statements.”

Form 990, Part VI, Line 15A

“The chairman of the board, along with george mason university's human resource department, approves the interim president's compensation in advance. This is done in accordance with the budget.”

Form 990, Part VI, Line 15B

“The interim president approves all other compensation in accordance with the budget.”

Form 990, Part VI, Line 19

“The governing documents and financial statements can be distributed to the public upon request from mason korea, llc.”

Filing and Contact Details

Filer

Filer Name
Mason Korea LLC
EIN
46-0603585
In Care Of
% LISA KEMP
Phone
7039932483
Address
4400 UNIVERSITY DRIVE MS 4B2, Suite, FAIRFAX, VA 22030-4444

Signing Officer

Name
Ms Lisa Kemp
Title
Treasurer
Phone
7039932483
Signed
2015-07-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ms Lisa Kemp
Formed
2012
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
1
Employees
0
Volunteers
9

Preparer

Firm
Bdo USA Llp
Address
1100 Peachtree Street Suite 700, ATLANTA, GA 30309-4516
Preparer
Sandra L Feinsmith
Phone
4046886841
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Lines 7-9

“Salary and employee benefits are only for korean nationals working in korea. There were no us citizen employees.”

Form 990, Part XI, Line 9

“Other changes in net assets or fund balances include currency translation adjustments and the closing fund balance.”

Financial Statement Notes

Part XI and XII Line 4B

“Scholarship awards totaling $184,078 are shown as a deduction from revenue in the audited financial statements.”

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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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IRS990/MissionDesc0MASON KOREA, LLC IS A NOT-FOR-PROFIT CORPORATION ESTABLISHED TO OPERATE A BRANCH CAMPUS OF GEORGE MASON UNIVERSITY IN THE REPUBLIC OF KOREA
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt011629
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IRS990/OtherExpensesGrp/Desc2EDUCATIONAL SUPPLIES
IRS990/OtherExpensesGrp/Desc3BUSINESS MEETINGS
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IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt01387683
IRS990/PaymentsToAffiliatesGrp/TotalAmt01387683
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt01000
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt01000
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt08533
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt03029
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IRS990/PoliticalCampaignActyInd0false
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt016259
IRS990/PrincipalOfficerNm0MS LISA KEMP
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND FEES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt129590
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0922347
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt129590
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0307263
IRS990/PYExcessBenefitTransInd0false
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IRS990/PYInvestmentIncomeAmt00
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IRS990/ReportLandBuildingEquipmentInd0false
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IRS990/ReportOtherLiabilitiesInd0true
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$727,227
Liabilities
$1,090,796
Net assets
-$363,569
Revenue
$2,631,462
Expenses
$2,952,642
Net income
-$321,180
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.4$0.55$10.8$15.7$13.4$2.33
2023Detailed filing. Detailed filing data is available for this year.$10.7$0.53$10.2$13.9$12.0$1.95
2022Detailed filing. Detailed filing data is available for this year.$8.94$0.59$8.35$11.8$10.9$0.90
2021Detailed filing. Detailed filing data is available for this year.$8.23$0.42$7.81$12.3$9.49$2.84
2020Detailed filing. Detailed filing data is available for this year.$5.97$0.45$5.52$10.6$8.54$2.03
2019Detailed filing. Detailed filing data is available for this year.$3.96$1.00$2.96$8.67$7.37$1.30
2018Detailed filing. Detailed filing data is available for this year.$2.55$0.90$1.65$7.11$7.46$0.35
2017Detailed filing. Detailed filing data is available for this year.$3.13$1.10$2.03$7.91$6.30$1.61
2016Detailed filing. Detailed filing data is available for this year.$1.90$1.41$0.49$6.43$4.91$1.52
2015Detailed filing. Detailed filing data is available for this year.$0.69$1.62$0.93$4.24$4.84$0.61
2014Detailed filing. Detailed filing data is available for this year.$0.73$1.09$0.36$2.63$2.95$0.32
2013Summary only. Only limited summary data is available for this year.$1.03$1.03$0.00$0.31$0.31$0.00