US Taekwondo Grandmasters Society

Analysis

US Taekwondo Grandmasters Society is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in April 2003, 23 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, US Taekwondo Grandmasters Society reported income of $82k and spending of $95k, spending 115% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $3,520 to $82k (+2234%), an average of +2234% a year. The sharpest change came in the year to December 2023, when income rose by 2234%. Over the whole period it spent 116% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, US Taekwondo Grandmasters Society sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 34th percentile within TX. Charities of a similar size with the same main cause include Dogpaw ($82k), Catasauqua Youth Athletic Association ($82k) and University City Swim Club ($82k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $73k against liabilities of $0, net assets of $73k.