Civic Intelligence

Mason Korea LLC

990 • Fiscal year 2016 • EIN 46-0603585

Jan 01, 2016 to Dec 31, 2016 • Filed on Jun 21, 2017

Organization ProfileMASONKOREA.GMU.EDU
4400 University Drive MS 4b2Fairfax, VA 22030-4444

(703) 993-2483

Siviq Scores

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

Liabilities / Assets

84th percentile

0.74x

Higher debt load relative to assets than 84% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

54th percentile

0.22x

Higher debt load relative to revenue than 54% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

83rd percentile

24%

Higher net margin than 83% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

93rd percentile

$434,900

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 6.8% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

98th percentile

177%

Faster asset growth than 98% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

90th percentile

52%

Faster revenue growth than 90% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$1,895,972

Up $1,210,830 (+177%) from 2015

Net Assets

Up

$488,340

Up $1,422,143 (+152%) from 2015

Liabilities

Down

$1,407,632

Down $211,313 (-13%) from 2015

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin83rd percentile

Revenue

Up

$6,426,047

Up $2,188,563 (+52%) from 2015

Expenses

Up

$4,907,428

Up $64,012 (+1.3%) from 2015

Net Income

Up

$1,518,619

Up $2,124,551 (+351%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth98th 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

2016

Assets$1,895,972
Liabilities$1,407,632
Net Assets$488,340
Open 2016 Filing

Operations Trend

Revenue Growth90th 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

2016

Revenue$6,426,047
Expenses$4,907,428
Net Income$1,518,619
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jun 21, 2017
Return Version
2016v3.0
Gross Receipts
$6,426,047
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$645,109$1,761,719▲ $1,116,610
Rtn Earn Endowment Incm Other Fnds$-934,803$487,340▲ $1,422,143
Accounts Receivable$0$94,256▲ $94,256
Prepaid Expenses and Deferred Charges$15,466$22,249▲ $6,783
Land, Buildings, and Equipment, Net$22,474$17,525▼ $4,949
Pd in Cap Srpls Land Bldg Eqp Fund$1,000$1,000→ $0
Savings and Temporary Cash Investments$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
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
Total Assets$685,142$1,895,972▲ $1,210,830
Other Assets Total$2,093$223▼ $1,870
Liabilities
Unsecured Notes Loans Payable$638,477$622,350▼ $16,127
Other Liabilities$493,176$499,483▲ $6,307
Deferred Revenue$361,365$273,917▼ $87,448
Accounts Payable and Accrued Expenses$125,927$11,882▼ $114,045
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$1,618,945$1,407,632▼ $211,313
Net Assets / Fund Balance
Total Net Assets Fund Balance$-933,803$488,340▲ $1,422,143
Total Liabilities and Net Assets / Fund Balance$685,142$1,895,972▲ $1,210,830

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$17,525$4,381$21,906
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Steven LeePresidentFT$267,000-$267,000
Gbemisola DisuChief Operating OfficerFT-$144,092$144,092
Kunmo ChungBoard Member-$50,000-$50,000

Board Members and Trustees

NameTitle
Frank NevilleChairman
Peter StearnsChairman
Solon SimmonsChairman
Joy HughesPresident
David WuBoard Member
Deborah Boehm-DavisBoard Member
Sarah NutterBoard Member
Lisa PawloskiDean
Lisa Kemptreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,129,439
Program Service Revenue
$5,309,333
Investment Income
$0
Other Revenue
$-12,725
All Other Contributions
$11,764
Change in Net Assets
$1,518,619

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,201,898
Revenue Not Reported on Financial Statements
$224,149
Revenue Not Reported on Form 990
$240,158
Other Revenue Adjustments
$224,149
Total Revenue per Audited Statements
$6,442,056
Total Revenue per Form 990
$6,426,047
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,496,420
Other Expenses$2,186,859
Grants and Similar Amounts Paid$224,149
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$910,616$949,805-$1,860,421
Payments to Affiliates-$1,083,483-$1,083,483
Current Officers, Directors, Trustees, and Key Employees-$317,000-$317,000
Other Employee Benefits$159,058$108,472-$267,530
Office Expenses-$228,661-$228,661
Foreign Grants$224,149--$224,149
Advertising$174,182--$174,182
Travel-$173,451-$173,451
Fees for Services Other$104,103--$104,103
Insurance-$94,551-$94,551
Pension Plan Contributions$28,993$22,476-$51,469
All Other Expenses-$49,695-$49,695
Fees for Services Accounting-$28,994-$28,994
Fees for Services Legal-$7,942-$7,942
Conferences and Meetings$7,372--$7,372
Depreciation Depletion-$4,564-$4,564
Other Expenses$4,070$8,606-$4,070
Total Functional Expenses$1,663,893$3,243,535$0$4,907,428

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,940,514
Total Expenses per Form 990$4,907,428
Expenses per Audited Statements$4,683,279
Expenses Not Reported on Form 990$257,235
Expenses Not Reported on Financial Statements$224,149
Other Expense Adjustments$224,149
International Activity

International Summary

Offices
1
Employees
68
Spending
$3,823,945

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 Serviceseducation168$3,823,945
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$290,020
Employee Retirement Liability$209,463
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 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 president's compensation in advance. This is done in accordance with the budget.”

Form 990, Part VI, Line 15B

“The 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
% MS LISA KEMP
Phone
7039932483
Address
4400 UNIVERSITY DRIVE MS 4B2, FAIRFAX, VA 22030-4444

Signing Officer

Name
Steven Lee
Title
President
Phone
7039932483
Signed
2017-06-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven Lee
Formed
2012
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
1
Employees
0
Volunteers
0

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.”

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 $224,149 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/Form990PartVIISectionAGrp/TitleTxt7President
IRS990/Form990PartVIISectionAGrp/TitleTxt8PRESIDENT
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt0267530
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt18606
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IRS990/OtherRevenueTotalAmt0-12725
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0949805
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt01000
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt01000
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt022476
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt028993
IRS990/PensionPlanContributionsGrp/TotalAmt051469
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt015466
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt022249
IRS990/PrincipalOfficerNm0STEVEN LEE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611310
IRS990/ProgramServiceRevenueGrp/BusinessCd1611310
IRS990/ProgramServiceRevenueGrp/Desc0TUITION AND FEES
IRS990/ProgramServiceRevenueGrp/Desc1NON CREDIT PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt05308950
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1383
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05308950
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1383
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0972298
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0203214
IRS990/PYInvestmentIncomeAmt054
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt03494075
IRS990/PYOtherRevenueAmt0-14268
IRS990/PYProgramServiceRevenueAmt03279400
IRS990/PYRevenuesLessExpensesAmt0-605932
IRS990/PYSalariesCompEmpBnftPaidAmt01146127
IRS990/PYTotalExpensesAmt04843416
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04237484
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01518619
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt05309333
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IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0487340
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IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MASON KOREA, LLC DETERMINED THAT GEORGE MASON UNIVERSITY WAS A SUPPORTED ORGANIZATION WITH A PUBLIC CHARITY BECAUSE IT IS A STATE UNIVERSITY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A, LINE 2
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,895,972
Liabilities
$1,407,632
Net assets
$488,340
Revenue
$6,426,047
Expenses
$4,907,428
Net income
$1,518,619
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