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← GEN RICHARD G STILWELL KOREAN WAR VETERANS MEMORIAL FOUNDATION

Form 990 for tax year 2022

Filed by GEN RICHARD G STILWELL KOREAN WAR VETERANS MEMORIAL FOUNDATION.

What the amendment changed

Compared with the return it replaced , filed 25 October 2023. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Those are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$2,795,065
Total expenses
$1,488,997
Contributions and grants received
$2,785,791
Grants paid
$0
Program service revenue
$0
Investment income
$9,274
Other revenue
$0
Total assets, end of year
$29,813,361
Total liabilities, end of year
$5,469,560
Net assets or fund balances, end of year
$24,343,801
Program services expenses (Part IX)
$1,263,651
Management and general expenses
$126,533
Fundraising expenses
$98,813
Program service expenses (Part III)
$1,263,651

Program services were 84.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $2,785,791

  • 3 · Investment income

    total $9,274 · excluded $9,274

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $171,626 · program services $117,172 · management and general $22,780 · fundraising $31,674

  • 7 · Other salaries and wages

    total $13,638 · program services $13,638

  • 8 · Pension plan contributions

    total $727 · management and general $727

  • 10 · Payroll taxes

    total $15,459 · program services $10,915 · management and general $1,901 · fundraising $2,643

  • 11c · Fees: accounting

    total $59,603 · management and general $59,603

  • 11e · Fees: professional fundraising services

    total $14,930 · fundraising $14,930

  • 11g · Fees: other

    total $9,894 · management and general $9,894

  • 12 · Advertising and promotion

    total $11,320 · fundraising $11,320

  • 13 · Office expenses

    total $24,763 · program services $17,484 · management and general $3,045 · fundraising $4,234

  • 16 · Occupancy

    total $29,820 · program services $21,055 · management and general $3,667 · fundraising $5,098

  • 23 · Insurance

    total $4,358 · program services $1,906 · management and general $1,991 · fundraising $461

  • 24a · Other expenses: MEMORIAL EVENTS

    total $1,073,796 · program services $1,073,796

  • 24b · Other expenses: OTHER EXPENSES-MNGMNT-9

    total $55,854 · program services $7,685 · management and general $19,716 · fundraising $28,453

  • 24c · Other expenses: PAYROLL PROCESSING FEE

    total $2,881 · management and general $2,881

  • 24d · Other expenses: BANK CHARGES

    total $328 · management and general $328

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,598,918 · end of year $10,894,737

  • 2 · Savings and temporary cash investments

    beginning of year $1,000,000 · end of year $1,000,027

  • 4 · Accounts receivable

    beginning of year $99,626

  • 9 · Prepaid expenses and deferred charges

    beginning of year $89,719 · end of year $3,000

  • 15 · Other assets

    beginning of year $11,146,739 · end of year $17,915,597

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,897,269 · end of year $297,530

  • 25 · Other liabilities

    beginning of year $0 · end of year $5,172,030

  • 27 · Net assets without donor restrictions

    beginning of year $13,429,418 · end of year $4,412,494

  • 28 · Net assets with donor restrictions

    beginning of year $9,608,315 · end of year $19,931,307

Mission and programs · 2022

Mission

THE MISSION OF THE FOUNDATION IS TO HONOR, PRESERVE, AND EDUCATE THE PUBLIC ABOUT THE COURAGE AND SACRIFICE OF THOSE WHO FOUGHT FOR A PEOPLE THEY HAD NEVER MET IN A COUNTRY THEY DID NOT KNOW.

Activities or mission (Part I)

THE MISSION OF THE FOUNDATION IS TO HONOR, PRESERVE AND EDUCATE THE PUBLIC ABOUT THE COURAGE AND SACRIFICE OF THOSE WHO FOUGHT FOR A PEOPLE THEY HAD NEVER MET IN A COUNTRY THEY DID NOT KNOW.

  • THE FOUNDATION SUPPORTS THE MAINTENANCE OF THE KOREAN WAR VETERANS MEMORIAL WHICH IS OWNED BY THE US PARK SERVICE AND CONDUCTS ACTIVITIES TO RAISE AWARENESS AND EDUCATE THE PUBLIC ABOUT THE KOREAN WAR. THE FOUNDATION BEGAN REFURBISHMENTS TO THE ORIGINAL MEMORIAL AND ALSO BEGAN CONSTRUCTION OF THE WALL OF REMEMBRANCE, AN ADDITION TO THE EXISTING MEMORIAL. DURING 2022, IN ADDITION TO THE PROGRAM EXPENSES REPORTED ON PAGE 10, THE FOUNDATION ALSO INCURRED AND CAPITALIZED COSTS FOR THE DESIGN AND CONSTRUCTION OF THE WALL OF REMEMBRANCE IN THE AMOUNT OF $6,708,829.

    Expenses $1,263,651

As filed on the 2022 return.

Listed in Part VII

  • Gen John H Tilelli Jr Usa R

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    10

  • Ltg Bernard S Champoux Usa R

    VICE-CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • Col Richard W Dean II Usa R

    VICE-CHAIRMAN/CONSTRUCTION MANAGEMENT AGENT

    Total calculated
    $0
    Hours/week
    40

  • Thomas S Kim

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Annelie Weber

    BOARD MEMBER - DECEASED OCT 2022

    Total calculated
    $0
    Hours/week
    5

  • Col Louis Berman Usa R

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Sunny Park

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Ltc James R Fisher Usa R

    EXECUTIVE DIRECTOR TO SEPT 2022

    Total calculated
    $86,923
    From this org
    $86,923
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Michel Au Buchon

    SECRETARY/TREASURER

    Total calculated
    $83,461
    From this org
    $82,734
    From related orgs
    $0
    Other
    $727
    Hours/week
    40

  • Seung Joon Lee

    PRESIDENT FROM OCT 2022

    Total calculated
    $21,970
    From this org
    $21,970
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202333149349302168

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