OTAKORP INC

EIN: 251800552 501(c)(3) Arts, Culture & Humanities

HANOVER, MD

Total Revenue
$4,409,868
Total Expenses
$3,552,049
Total Assets
$4,133,756
Net Assets
$4,060,601
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
PA
Principal Officer
LACEY KISHTER
Phone
6105776133
Tax Period
2024-01-01 to 2024-12-31

OTAKORP INC, founded in 1994, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.4M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. The organization ran a surplus of $858K, a strong 19% operating margin.

Mission

TO FOSTER AN AWARENESS AND PROMOTE THE APPRECIATION OF ASIAN CULTURE, PRIMARILY THROUGH ITS MEDIA AND ENTERTAINMENT AND THE ARTISTIC COMMUNITY INVOLVED IN THEIR CREATION, BY PROVIDING A FORUM FOR EXHIBITION, DISCUSSION, WORKSHOPS, AND ACTIVITIES RELATED TO THE SAME; MOREOVER TO PROVIDE AN ENVIRONMENT AND SUPPORT MECHANISM BY WHICH A SIMILAR ARTISTIC COMMUNITY CAN ARISE IN THE UNITED STATES.

Program Service Accomplishments

Program 1
Expenses: $2,958,118 Revenue: $4,314,844

OTAKORP, INC. ORGANIZED, PRODUCED, AND PRESENTED ITS 2024 ANNUAL MEETING. THIS 3-DAY EDUCATIONAL AND IMMERSIVE FESTIVAL OF ASIAN POPULAR ARTS AND CULTURE, CALLED OTAKON, INCLUDES PANELS, LECTURES...

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OTAKORP, INC. ORGANIZED, PRODUCED, AND PRESENTED ITS 2024 ANNUAL MEETING. THIS 3-DAY EDUCATIONAL AND IMMERSIVE FESTIVAL OF ASIAN POPULAR ARTS AND CULTURE, CALLED OTAKON, INCLUDES PANELS, LECTURES, WORKSHOPS, CONCERTS, FILM AND VIDEO PRESENTATIONS, AND LIVE APPEARANCES BY THOSE INVOLVED IN THE CREATION, PRODUCTION, AND DISTRIBUTION OF ASIAN ART AND CULTURE. WE HOSTED OVER 46,000 ATTENDEES ACROSS THE THREE DAYS OF THE 2024 EVENT. THE EVENT WAS SUPPORTED BY MORE THAN 850 VOLUNTEERS. ASIDE FROM RECORD-BREAKING ATTENDANCE NUMBERS, THE 2024 MEETING ALSO CELEBRATED THE 30TH ANNIVERSARY OF THIS EVENT. OTAKON IS ONE OF THE LARGEST EVENTS OF ITS TYPE IN THE UNITED STATES AND HAS BEEN OUR PRIMARY EVENT SINCE THE FOUNDING OF THE CORPORATION.

Program 2

OTAKORP, INC. COORDINATED WITH A NUMBER OF OTHER REGIONAL EVENTS TO CONTINUE ITS EFFORTS TO CROSS-PROMOTE INTEREST IN ASIAN CULTURE, MEDIA, AND ENTERTAINMENT IN THE UNITED STATES. EXAMPLES INCLUDE...

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OTAKORP, INC. COORDINATED WITH A NUMBER OF OTHER REGIONAL EVENTS TO CONTINUE ITS EFFORTS TO CROSS-PROMOTE INTEREST IN ASIAN CULTURE, MEDIA, AND ENTERTAINMENT IN THE UNITED STATES. EXAMPLES INCLUDE ZENKAIKON, KATSUCON, AND WASHINGTON, DC'S "SAKURA MATSURI", AN ANNUAL SPRING PROGRAM IN DOWNTOWN DC ATTRACTING OVER 5,000 PEOPLE DESIGNED TO EXPAND OUTREACH AND PROMOTE ASIAN CULTURE IN THE UNITED STATES.

Program 3

OTAKORP, INC. CONTINUED TO DEVELOP ITS RELATIONSHIPS WITH THE EMBASSY OF THE REPUBLIC OF KOREA AND THE EMBASSY OF JAPAN IN ORDER TO CONTINUE OUR CROSS-CULTURAL MISSION. FURTHERMORE, WE FOLLOWED UP ON...

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OTAKORP, INC. CONTINUED TO DEVELOP ITS RELATIONSHIPS WITH THE EMBASSY OF THE REPUBLIC OF KOREA AND THE EMBASSY OF JAPAN IN ORDER TO CONTINUE OUR CROSS-CULTURAL MISSION. FURTHERMORE, WE FOLLOWED UP ON RECENTLY COMPLETED MEETINGS WITH REPRESENTATIVES OF BOTH JAPAN AND SOUTH KOREA'S ARTISTIC COMMUNITIES AND POPULAR ARTS INDUSTRIES TO BRING PROGRAMING, EXHIBITIONS, AND DISCUSSION OF THEIR MEDIA, ENTERTAINMENT, AND CULTURE TO OTAKON. THIS CONTINUED NETWORKING IS NECESSARY TO SUPPORT AND FOSTER SIMILAR ARTISTIC COMMUNITIES IN THE UNITED STATES.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,304
Program Service Revenue $4,314,844
Investment Income $0
Other Revenue $89,720
TOTAL REVENUE $4,409,868

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $2,958,118
Other Expenses $3,552,049
TOTAL EXPENSES $3,552,049

Year-over-Year Comparison

2024 2023 Change
Revenue $4,409,868 $3,786,249 +0.2%
Expenses $3,552,049 $3,427,938 +0.0%
Net Income $857,819 $358,311 +1.4%
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
230
Independent Members
230
Employees
N/A
Volunteers
853

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
10
$0
Total Directors
21
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BROOKE ZERRLAUT PRESIDENT 20.00
Officer Director
$0 $0 $0
LACEY KISHTER PRESIDENT/VP 15.00
Officer Director
$0 $0 $0
MATTHEW SMIECHOWSKI TREASURER 15.00
Officer Director
$0 $0 $0
JOHN GLUTH TREASURER 15.00
Officer Director
$0 $0 $0
MICHAEL RAYES VICE PRESIDE 15.00
Officer Director
$0 $0 $0
KENNETH BRYSON COMPTROLLER 15.00
Officer Director
$0 $0 $0
CONNOR MAC ENTEE CORRESPONDIN 15.00
Officer Director
$0 $0 $0
MELANIE HARDY-SKEBERDIS CORRESPONDIN 15.00
Officer Director
$0 $0 $0
RACHAEL MCCLEARY RECORDING SE 10.00
Officer Director
$0 $0 $0
MATTHEW GRAVES RECORDING SE 10.00
Officer Director
$0 $0 $0
SIMON CHAMBERS MEMBER AT LA 5.00
Director
$0 $0 $0
SIMONE BLANCHAT MEMBER AT LA 5.00
Director
$0 $0 $0
DANIELLE RUTTER MEMBER AT LA 5.00
Director
$0 $0 $0
JOSHUA CONWAY MEMBER AT LA 5.00
Director
$0 $0 $0
ETHAN LINDSEY MEMBER AT LA 5.00
Director
$0 $0 $0
VICTORIA MACENTEE MEMBER AT LA 5.00
Director
$0 $0 $0
JOEY BRUNO MEMBER AT LA 5.00
Director
$0 $0 $0
EWEN CRUNKHORN MEMBER AT LA 5.00
Director
$0 $0 $0
BRIAN CUTLER MEMBER AT LA 5.00
Director
$0 $0 $0
JONATHAN NORI MEMBER AT LA 5.00
Director
$0 $0 $0
HARSH PANDYA MEMBER AT LA 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 $4,409,868 $3,552,049 $4,133,756 $857,819
2023 $3,786,249 $3,427,938 $3,275,104 $358,311
2022 $5,160,092 $2,869,647 $2,831,049 $2,290,445
2022 $214,009 $110,581 $2,924,624 $103,428
2021 $1,832,562 $1,545,126 $526,333 $287,436
2020 $365,102 $585,016 $191,275 $-219,914
2019 $2,566,195 $2,569,270 $352,216 $-3,075
2018 $2,881,829 $2,719,849 $417,537 $161,980
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