World Tang Soo Do Association

Analysis

World Tang Soo Do Association is a registered charity in United States, based in Burlington, NC. It received its IRS tax-exemption ruling in October 2002, 24 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, World Tang Soo Do Association reported income of $1.5m and spending of $1.4m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.5m (+9.3%), an average of +2.2% a year. The sharpest change came in the year to December 2021, when income rose by 173%. Over the whole period it spent 95% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, World Tang Soo Do Association sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within NC. Charities of a similar size with the same main cause include MRT Center Inc ($1.5m), Pennsylvania State Shotgunning Association ($1.5m) and Lilac Bloomsday Association ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 96% of the total. Compensation of current officers, directors and key employees was $151k (10% of expenses). Other salaries and wages came to $204k. At year end it held assets of $1.3m against liabilities of $39k, net assets of $1.2m. It reported 14 employees.