USA TAEKWONDO INC (EIN 680587171) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

STEPHEN MCNALLY

Phone

7198663636

Tax Period

2023-01-01 to 2023-12-31

USA TAEKWONDO INC, founded in 2004, is a community nonprofit in the Recreation & Sports sector that reported $5.8M in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum.

Mission

THE PURPOSE OF USA TAEKWONDO SHALL BE TO ENABLE UNITED STATES ATHLETES TO ACHIEVE SUSTAINED COMPETITIVE EXCELLENCE IN THE SPORT OF TAEKWONDO IN THE UNITED STATES AND TO SERVE AS THE NATIONAL GOVERNING BODY FOR THE SPORT OF TAEKWONDO UNDER THE AUTHORITY OF THE UNITED STATES OLYMPIC AND PARALYMPIC COMMITTEE (USOPC) AS SET OUT BELOW. FURTHERMORE, USAT IS COMMITTED TO PROVIDING THE NECESSARY PROGRAMS, SERVICES AND SUPPORT FOR ALL TAEKWONDO PARTICIPANTS BY PROVIDING A SAFE AND POSITIVE ENVIRONMENT AS WELL AS DEMONSTRATING THE HIGH ATHLETIC SKILL, SELF-DISCIPLINE, HUMILITY, INDOMITABLE SPIRIT AND EXPRESSION OF OLYMPIC IDEALS REQUIRED TO EXCEL IN THE SPORT. USAT ENVISIONS A WORLD WHERE TAEKWONDO PARTICIPANTS OF ALL LEVELS HAVE THE NECESSARY PROGRAMS, SERVICES, SUPPORT AND TRAINING TO ACHIEVE EXCELLENCE IN THE SPORT AND THAT USAT IS SEEN AS THE PREMIER BENCHMARK FOR THE DEVELOPMENT OF TAEKWONDO AS AN OLYMPIC SPORT, METHOD OF SELF-DEFENSE, FORM OF RECREATION AND WAY OF LIFE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,207,123

Program Service Revenue $3,657,057

Investment Income $-19,218

Other Revenue $0

TOTAL REVENUE $5,844,962

Expense Breakdown

Grants Paid $192,512

Salaries & Benefits $1,074,277

Fundraising Expenses $0

Program Expenses $5,599,394

Other Expenses $4,957,464

TOTAL EXPENSES $6,224,253

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,844,962	$4,727,638	+0.2%
Expenses	$6,224,253	$4,685,812	+0.3%
Net Income	$-379,291	$41,826	-10.1%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

100

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

$152,624

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAYSEN ISHIDA	AAC ATHLETE REP	2.00	Director	$0	$0	$0
DAVID TURGEON	AAC ATHLETE REP	2.00	Director	$0	$0	$0
BRIANNA SALINARO	AAC ATHLETE REP	2.00	Director	$0	$0	$0
CHEYENNE LEWIS	AAC ATHLETE REP	2.00	Director	$0	$0	$0
CAROLINE INAY-PARK	AAC ATHLETE REP	2.00	Director	$0	$0	$0
RON SOUTHWICK	COACH DIRECTOR	2.00	Director	$0	$0	$0
JOHN HOLLOWAY	REFEREE DIRECTOR	2.00	Director	$0	$0	$0
BONGSEOK KIM	AFFILIATED ORGANIZATION DIRECTOR	2.00	Director	$0	$0	$0
MITCH SPRENGELMEYER	INDEPENDENT DIRECTOR	2.00	Director	$0	$0	$0
KIM VOSS	INDEPENDENT DIRECTOR	2.00	Director	$0	$0	$0
DANIEL CHUN	INDEPENDENT DIRECTOR	2.00	Director	$0	$0	$0
YUKI RICHARDSON	INDEPENDENT DIRECTOR THROUGH 8/2023	2.00	Director	$0	$0	$0
RAHUL BAWA	INDEPENDENT DIRECTOR THROUGH 4/2023	2.00	Director	$0	$0	$0
JOE HAMMOND	INDEPENDENT DIRECTOR THROUGH 1/2023	2.00	Director	$0	$0	$0
CAROL LEWIS	CHAIR OF BOARD	2.00	Officer Director	$0	$0	$0
STEPHEN MCNALLY	CHIEF EXECUTIVE OFFICER	40.00	Officer	$135,033	$17,591	$152,624
CHRISTINE STRONG SIMMONS	MANAGING DIRECTOR OF EVENTS, MEMBER SERVICES	40.00	Highest	$109,135	$26,601	$135,736

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	$5,844,962	$6,224,253	$440,612	$-379,291
2022	$4,727,638	$4,685,812	$615,620	$41,826
2021	$2,630,547	$2,623,907	$524,172	$6,640
2020	$2,090,422	$2,221,548	$715,738	$-131,126
2019	$4,008,179	$4,118,540	$652,634	$-110,361
2018	$3,719,074	$3,506,301	$632,936	$212,773

USA TAEKWONDO INC