WORLD TANG SOO DO ASSOCIATION

EIN: 222429979 501(c)(3) Recreation & Sports

BURLINGTON, NC

Total Revenue
$1,546,354
Total Expenses
$1,439,875
Total Assets
$1,258,321
Net Assets
$1,219,715
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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
NC
Principal Officer
SANFORD LIPSTEIN
Phone
3362230056
Tax Period
2023-01-01 to 2023-12-31

WORLD TANG SOO DO ASSOCIATION, founded in 1982, is a community nonprofit in the Recreation & Sports sector that reported $1.5M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $1.4M left a modest 7% surplus.

Mission

THE WORLD TANG SOO DO ASSOCIATION WAS ESTABLISHED TO PROVIDE QUALITY INSTRUCTION IN THE ANCIENT ART OF TANG SOO DO AND TO HELP STUDENTS IMPROVE THEIR APPRECIATION OF LIFE THROUGH THE DEVELOPMENT OF PHYSICAL AND COGNITIVE SKILLS, (CONTINUED ON SCHEDULE O)AND TO PROMOTE OVERALL WELL-BEING FOR THE COMMUNITIES IN WHICH IT SERVES, THROUGH A CURRICULUM OF DISCIPLINE AND EXERCISE, FOCUSED ON THE CORE VALUES OF AN ANCIENT FORM OF MARTIAL ART.

Program Service Accomplishments

Program 1
Expenses: $887,960 Revenue: $993,331

THE ASSOCIATION HAS 23 REGIONS AROUND THE WORLD, 19 OF WHICH ARE CURRENTLY ACTIVE. EACH REGION HAS AT LEAST ONE CHAMPIONSHIP EACH YEAR. FURTHER, THE ASSOCIATION HOLDS A WORLD CHAMPIONSHIP ON A...

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THE ASSOCIATION HAS 23 REGIONS AROUND THE WORLD, 19 OF WHICH ARE CURRENTLY ACTIVE. EACH REGION HAS AT LEAST ONE CHAMPIONSHIP EACH YEAR. FURTHER, THE ASSOCIATION HOLDS A WORLD CHAMPIONSHIP ON A BIANNUAL BASIS, DURING WHICH ASSOCIATION MEMBERS FROM AROUND THE WORLD GATHER TO RENEW FRIENDSHIPS, ENGAGE IN HEALTHY COMPETITION, AND LEARN THE LATEST TECHNIQUES OFFERED BY THE ASSOCIATION. EACH REGION ALSO HOLDS NUMEROUS SEMINARS THROUGHOUT THE YEAR, DURING WHICH STUDENTS HAVE THE OPPORTUNITY TO LEARN FROM A VAST ARRAY OF MASTER INSTRUCTORS. CHAMPIONSHIPS AND SEMINARS PROVIDE A FORUM FOR MAINTAINING AND PRESERVING THE TRADITION OF TANG SOO DO. (CONTINUED ON SCHEDULE O)EACH REGION ALSO HOLDS AN ANNUAL BLACK BELT CAMP FOR ITS BLACK BELT AND CHO DAN BO (ONE LEVEL BELOW BLACK BELT) MEMBERS. THESE CAMPS TRAIN OVER 1,000 STUDENTS IN THE ART OF TEACHING TANG SOO DO, AND PROVIDE ATTENDEES A CHANCE TO LEARN NEW SKILLS AND ENHANCE EXISTING ONES. IN ADDITION, THE ASSOCIATION HOLDS THREE CLINICS PER YEAR FOR ITS MASTER INSTRUCTORS - ONE IN THE US, ONE IN EUROPE, AND ONE IN SOUTH AMERICA. DURING THE CLINIC, MASTER INSTRUCTORS HAVE A CHANCE TO REFRESH THEMSELVES ON BEST PRACTICES TO TEACH TANG SOO DO, AS WELL AS ENHANCE THEIR OWN SKILLS. TYPICALLY, THE COMBINED ATTENDANCE AT THESE MASTERS' CLINICS EXCEEDS 300 MASTER INSTRUCTORS.

Program 2
Expenses: $102,121 Revenue: $303,600

TESTING OF INDIVIDUALS IS REQUIRED TO DETERMINE THEIR LEVEL OF ACCOMPLISHMENT. INDIVIDUAL STUDIOS TEST THEIR STUDENTS AND SEND THE RESULTS OF THE TESTING TO THE ASSOCIATION FOR REVIEW AND PROCESSING...

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TESTING OF INDIVIDUALS IS REQUIRED TO DETERMINE THEIR LEVEL OF ACCOMPLISHMENT. INDIVIDUAL STUDIOS TEST THEIR STUDENTS AND SEND THE RESULTS OF THE TESTING TO THE ASSOCIATION FOR REVIEW AND PROCESSING OF STUDENT CERTIFICATIONS. BLACK BELT TESTING IS DONE BY REGION, AND MASTERS TESTING IS DONE INTERNATIONALLY. THERE IS A EUROPEAN MASTERS CLINIC, A NORTH AMERICAN MASTERS CLINIC, AND A SOUTH AMERICAN MASTERS CLINIC. MASTERS MUST ATTEND ONE OF THESE THREE IN ORDER TO TEST.IN 2023, THE ASSOCIATION ADMINISTERED GUP (NON-BLACK BELT) TESTS TO 20,790 INDIVIDUALS, NON-MASTER BLACK BELT TESTS TO 816 INDIVIDUALS, AND MASTER TESTS TO 39 INDIVIDUALS.

Program 3
Expenses: $102,121 Revenue: $187,606

EACH NEW MEMBER IS PROVIDED WITH A MANUAL, ID CARD, AND STICKER. MANUALS PROVIDE A BASIC DESCRIPTION OF THE ASSOCIATION'S REQUIREMENTS REGARDING PHYSICAL AND MENTAL TECHNIQUES THAT MUST BE LEARNED TO...

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EACH NEW MEMBER IS PROVIDED WITH A MANUAL, ID CARD, AND STICKER. MANUALS PROVIDE A BASIC DESCRIPTION OF THE ASSOCIATION'S REQUIREMENTS REGARDING PHYSICAL AND MENTAL TECHNIQUES THAT MUST BE LEARNED TO ADVANCE IN RANK. ID CARDS PROVIDE A RECORD OF EACH MEMBER'S ADVANCEMENT IN RANK. AS OF DECEMBER 31, 2023, THERE WERE 16,852 ACTIVE MEMBERS; OF THESE, 6,000 WERE EITHER AT THE BLACK BELT OR CHO DAN BO LEVEL.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,484,537
Investment Income $501
Other Revenue $61,316
TOTAL REVENUE $1,546,354

Expense Breakdown

Grants Paid $25,915
Salaries & Benefits $425,053
Fundraising Expenses $0
Program Expenses $1,194,317
Other Expenses $988,907
TOTAL EXPENSES $1,439,875

Year-over-Year Comparison

2023 2022 Change
Revenue $1,546,354 $1,366,918 +0.1%
Expenses $1,439,875 $1,272,654 +0.1%
Net Income $106,479 $94,264 +0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
32
Independent Members
26
Employees
14
Volunteers
6000

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
26
$151,096
Total Directors
32
$151,096
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GIDEON LEE COO/CHIEF OF STAFF 40.00
Officer Director
$72,500 $7,750 $80,250
WILLIAM STRONG GRANDMASTER 30.00
Officer Director
$26,000 $0 $26,000
FRANK FATTORI CEO/PRESIDENT 20.00
Officer Director
$15,000 $0 $15,000
SANFORD LIPSTEIN CFO/TREASURER 10.00
Officer Director
$12,000 $0 $12,000
KRISTEN WINSKO CHAIR, LEGAL AFFAIRS COMMITTEE 15.00
Officer Director
$12,000 $0 $12,000
NICOLE PETERMAN OPERATIONAL VICE PRES AS OF APR 2023 20.00
Officer Director
$5,846 $0 $5,846
BECKY RUPP WOLVERTON DIRECTOR, REGION 1 5.00
Officer Director
$0 $0 $0
JOHNNY WILLIAMSON DIRECTOR, REGION 2 5.00
Officer Director
$0 $0 $0
BOB GRISSOM DIRECTOR, REGION 3 5.00
Officer Director
$0 $0 $0
ALLEN SHARPE DIRECTOR, REGION 4 5.00
Officer Director
$0 $0 $0
JEFF WHEELER DIRECTOR, REGION 5 5.00
Officer Director
$0 $0 $0
DOUG MILLER DIRECTOR, REGION 6 5.00
Officer Director
$0 $0 $0
JACKIE FORRESTER DIRECTOR, REGION 7 5.00
Officer Director
$0 $0 $0
MARTHA HEISE DIRECTOR, REGION 8 5.00
Officer Director
$0 $0 $0
EFARIN VALENTIN DIRECTOR, REGION 9 5.00
Officer Director
$0 $0 $0
MUJAHID KHAN DIRECTOR, REGION 11 5.00
Officer Director
$0 $0 $0
RICARDO VALDEZ DIRECTOR, REGION 12 5.00
Officer Director
$0 $0 $0
EVANDRO SCHWALBACH DIRECTOR, REGION 14 5.00
Officer Director
$0 $0 $0
KARI RALPH DIRECTOR, REGION 15 5.00
Officer Director
$0 $0 $0
ANATOLY KATYUSHIN DIRECTOR, REGION 17 5.00
Officer Director
$0 $0 $0
WILFREDO BURGOS DIRECTOR, REGION 18 5.00
Officer Director
$0 $0 $0
ROY UTTECH DIRECTOR, REGION 19 5.00
Officer Director
$0 $0 $0
PATRICK MARSCH DIRECTOR, REGION 20 5.00
Officer Director
$0 $0 $0
MATTHEW HUTCHINSON DIRECTOR, REGION 21 5.00
Officer Director
$0 $0 $0
SCOTT HOMSCHEK DIRECTOR, REGION 22 5.00
Officer Director
$0 $0 $0
A SEBASTIAN BONELLI DIRECTOR, REGION 23 5.00
Officer Director
$0 $0 $0
BRIAN FISHER CHAIR, TECHNICAL ADVISORY CMTE. 5.00
Director
$0 $0 $0
CHUCK VAUGHN CHAIR, GOVERNANCE/PUBLIC REL. CMTE. 5.00
Director
$0 $0 $0
MARK JORGENSEN CHAIR, REGULATIONS COMMITTEE 5.00
Director
$0 $0 $0
SCOTT MERRILL CHAIR, SECURITY COMMITTEE 5.00
Director
$0 $0 $0
KEN PETERMAN CHAIR, TESTING COMMITTEE 5.00
Director
$0 $0 $0
GEOFFREY SETYANTO CHAIR, FINANCE/BUSINESS COMMITTEE 5.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,546,354 $1,439,875 $1,258,321 $106,479
2022 $1,366,918 $1,272,654 $1,156,135 $94,264
2021 $1,027,511 $797,839 $1,099,943 $229,672
2020 $375,703 $605,997 $856,778 $-230,294
2019 $1,415,259 $1,313,082 $1,061,279 $102,177
2018 $1,504,901 $1,285,253 $917,417 $219,648
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