USA Taekwondo Inc

Analysis

USA Taekwondo Inc is a registered charity in United States, based in Colorado Springs, CO. It received its IRS tax-exemption ruling in September 2004, 22 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, USA Taekwondo Inc reported income of $5.8m and spending of $6.2m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.0m to $5.8m (+46%), an average of +9.9% a year. The sharpest change came in the year to December 2022, when income rose by 80%. Over the whole period it spent 103% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, USA Taekwondo Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within CO. Charities of a similar size with the same main cause include West End House Inc ($5.8m), Babe Ruth League Inc ($5.9m) and Placer Valley Sports Complex Inc ($5.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $153k (2.5% of expenses). Other salaries and wages came to $727k. At year end it held assets of $441k against liabilities of $670k, net assets of -$229k. It reported 14 employees.