USA TAEKWONDO INC Charity Report

Public IRS 990 nonprofit record

USA TAEKWONDO INC

EIN 68-0587171 · Amateur Sports Competitions (N70)

What they do

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.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $90.50 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders13 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

78.00%of revenue went to mission work90.5% of expenses · Program services

$86.16spent for every $100 of revenueRevenue covered expenses this year.

8.16%of revenue went to management and office costs9.5% of expenses

$0.21in assets for every $1 spent this yearSome assets cannot be spent right away.

38.5%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $156,369 for STEPHEN MCNALLY (CHIEF EXECUTIVE OFFICER). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$6,250,481

Mission workProgram services$4,875,48878.00% of revenue90.5% of expenses

ManagementOffice and general costs$509,7718.16% of revenue9.5% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$865,22213.84% of revenueShown in gray on the chart

Total expenses$5,385,25986.16% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 90.5% mission · 9.5% management · 0.0% fundraisingTotal expenses: 86.16% of revenue

2023Expense mix: 90.0% mission · 10.0% management · 0.0% fundraisingTotal expenses: 106.49% of revenue

2022Expense mix: 87.5% mission · 12.5% management · 0.0% fundraisingTotal expenses: 99.12% of revenue

2021Expense mix: 83.8% mission · 16.2% management · 0.0% fundraisingTotal expenses: 99.75% of revenue

2020Expense mix: 78.2% mission · 21.8% management · 0.0% fundraisingTotal expenses: 106.27% of revenue

2019Expense mix: 85.1% mission · 14.9% management · 0.0% fundraisingTotal expenses: 102.75% of revenue

2018Expense mix: 87.4% mission · 12.6% management · 0.0% fundraisingTotal expenses: 94.28% of revenue

2017Expense mix: 86.3% mission · 13.1% management · 0.6% fundraisingTotal expenses: 101.12% of revenue

Money in and money out

Revenue$6,250,481

Expenses$5,385,259

Annual surplus $865,222 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$4,875,488 · 90.5% of expenses

Management and office costs$509,771 · 9.5% of expenses

See all reported dollar amounts

Revenue$6,250,481

Expenses$5,385,259

Assets$1,130,800

Income$6,250,481

Contributions$2,408,034

Mission work (program services)$4,875,488

Management and general$509,771

Stocks and bonds$10,000

Accounting fees$15,700

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

STEPHEN MCNALLYCHIEF EXECUTIVE OFFICER · 40 hrs/week $156,369Base $134,723 · Other $21,646

CHRISTINE SIMMONSMANAGING DIRECTOR OF EVENT · 40 hrs/week $148,666Base $114,340 · Other $34,326

GARETH BROWNNATIONAL TEAM HEAD COACH · 40 hrs/week $130,059Base $101,256 · Other $28,803

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (13)

STEPHEN MCNALLYCHIEF EXECUTIVE OFFICER

CHRISTINE SIMMONSMANAGING DIRECTOR OF EVENT

GARETH BROWNNATIONAL TEAM HEAD COACH

BONGSEOK KIMAFFILIATED ORGANIZATION DI

BRIANNA SALINAROAAC ATHLETE REP

CAROL LEWISCHAIR OF BOARD

CHEYENNE LEWISAAC ATHLETE REP

DANIEL CHUNINDEPENDENT DIRECTOR

DAVID TURGEONAAC ATHLETE REP

JAYSEN ISHIDAAAC ATHLETE REP

JOHN HOLLOWAYREFEREE DIRECTOR

MITCH SPRENGELMEYERINDEPENDENT DIRECTOR

RON SOUTHWICKCOACH DIRECTOR

About this charity

Recognized since: January 2004
Location: 1 OLYMPIC PLAZA 110, COLORADO SPRINGS, CO 80909
County: El Paso
In care of: RICHARD J WARWICK
Primary officer: RICHARD J WARWICK, SECRETARY GENERAL

How to reach them

WebsiteVisit the charity’s website Emailgunny@visionma.com Phone(719) 866-3636

Filing and classification

Latest tax year: 2024
Tax period began: January 1, 2024
Return type: 990
Tax preparer: WAUGH & GOODWIN LLP
NTEE classification: Amateur Sports Competitions (N70)
IRS tax category: Amateur Sports Competitions