Civic Intelligence

Mason Korea LLC

990 • Fiscal year 2019 • EIN 46-0603585

Jan 01, 2019 to Dec 31, 2019 • Filed on May 14, 2020

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

(703) 993-2483

Siviq Scores

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

Liabilities / Assets

60th percentile

0.25x

Higher debt load relative to assets than 60% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

42nd percentile

0.12x

Higher debt load relative to revenue than 42% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

73rd percentile

15%

Higher net margin than 73% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

95th percentile

$506,183

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

94th percentile

55%

Faster asset growth than 94% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

79th percentile

22%

Faster revenue growth than 79% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$3,959,656

Up $1,408,274 (+55%) from 2018

Net Assets

Up

$2,955,323

Up $1,305,194 (+79%) from 2018

Liabilities

Up

$1,004,333

Up $103,080 (+11%) from 2018

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin73rd percentile

Revenue

Up

$8,665,276

Up $1,550,682 (+22%) from 2018

Expenses

Down

$7,368,377

Down $93,091 (-1.2%) from 2018

Net Income

Up

$1,296,899

Up $1,643,773 (+474%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth94th 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

2019

Assets$3,959,656
Liabilities$1,004,333
Net Assets$2,955,323
Open 2019 Filing

Operations Trend

Revenue Growth79th 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

2019

Revenue$8,665,276
Expenses$7,368,377
Net Income$1,296,899
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 14, 2020
Return Version
2019v5.1
Gross Receipts
$8,665,276
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$2,396,649$3,725,384▲ $1,328,735
Rtn Earn Endowment Incm Other Fnds$1,649,129$2,954,323▲ $1,305,194
Accounts Receivable$97,429$192,231▲ $94,802
Prepaid Expenses and Deferred Charges$55,555$41,721▼ $13,834
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
Land, Buildings, and Equipment, Net$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$2,551,382$3,959,656▲ $1,408,274
Other Assets Total$1,749$320▼ $1,429
Liabilities
Other Liabilities$715,506$819,052▲ $103,546
Accounts Payable and Accrued Expenses$165,457$116,897▼ $48,560
Deferred Revenue$20,290$68,384▲ $48,094
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$901,253$1,004,333▲ $103,080
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,650,129$2,955,323▲ $1,305,194
Total Liabilities and Net Assets / Fund Balance$2,551,382$3,959,656▲ $1,408,274
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ann ArdisBoard Member--$372,907$372,907
Gbemisola DisuChief Business Officer--$351,584$351,584
Lester KurtzFacultyFT$227,193-$227,193
Gbemisola DisuFaculty-$227,193-$227,193
John T CristAssoc Dean of Academic AffairsFT$193,672-$193,672
Jenny LeeAssociate ProfessorFT$141,537-$141,537
Yorgun K MarcelAssoc Dean of Student AffairsFT$115,424-$115,424
Tom LexTreasurer--$111,776$111,776
Kunmo ChungBoard Member-$50,000-$50,000

Board Members and Trustees

NameTitle
Frank NevilleChairman
Peter StearnsChairman
Solon SimmonsChairman
Joy HughesPresident
Anne MagroBoard Member
David WuBoard Member
Kelley ChungBoard Member
Michelle MarksBoard Member
Robert MatzBoard Member
Lester Kurtz-
Ann ArdisChief Business Officer
Revenue and Support

Revenue Composition

Contributions and Grants
$960,617
Program Service Revenue
$7,673,757
Investment Income
$2,065
Other Revenue
$28,837
All Other Contributions
$53,774
Change in Net Assets
$1,296,899

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,983,519
Revenue Not Reported on Financial Statements
$681,757
Revenue Not Reported on Form 990
$1,178,818
Other Revenue Adjustments
$681,757
Total Revenue per Audited Statements
$9,162,337
Total Revenue per Form 990
$8,665,276
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,821,410
Other Expenses$2,865,210
Grants and Similar Amounts Paid$681,757
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$988,305$1,448,780-$2,437,085
Payments to Affiliates-$1,403,113-$1,403,113
Current Officers, Directors, Trustees, and Key Employees-$899,264-$899,264
Foreign Grants$681,757--$681,757
Other Employee Benefits$211,551$166,895-$378,446
Fees for Services Other$266,288--$266,288
Advertising$206,860--$206,860
Office Expenses-$205,517-$205,517
Insurance-$112,803-$112,803
Pension Plan Contributions$53,795$52,820-$106,615
Travel-$100,585-$100,585
All Other Expenses-$70,900-$70,900
Conferences and Meetings$38,823--$38,823
Other Expenses$27,782$114,559-$27,782
Total Functional Expenses$2,793,141$4,575,236$0$7,368,377

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,761,739
Total Expenses per Form 990$7,368,377
Expenses per Audited Statements$6,686,620
Expenses Not Reported on Form 990$1,075,119
Expenses Not Reported on Financial Statements$681,757
Other Expense Adjustments$681,757
International Activity

International Summary

Offices
1
Employees
95
Spending
$6,226,089

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 Serviceseducation195$6,226,089
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Employee Retirement Liability$672,597
Due to George Mason University$146,455
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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, PART VI, LINE 11B

“The 990 report is reported as an agenda of the finance department at the Mason Korea audit committee meeting (MKCM). The agreed agenda was reported to the board meeting by the Treasurer in MKCM. The MKCM is held two weeks before the board meeting. 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

Signing Officer

Name
Robert I Matz
Title
Campus Dean
Phone
7039932483
Signed
2020-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert I Matz
Formed
2012
Legal Domicile
Va
Voting Board Members
6
Independent Board Members
0
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: currency translation adjustments 8,295”

Financial Statement Notes

Part XI and XII Line 4B

“Scholarship awards totaling $681,757 are shown as a deduction from revenue in the audited financial statements.”

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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,959,656
Liabilities
$1,004,333
Net assets
$2,955,323
Revenue
$8,665,276
Expenses
$7,368,377
Net income
$1,296,899
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