Form 990 for tax year 2023
Filed by GEN RICHARD G STILWELL KOREAN WAR VETERANS MEMORIAL FOUNDATION.
Totals
- Total revenue
- $57,265
- Total expenses
- $541,092
- Contributions and grants received
- $160,474
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $92,791
- Other revenue
- -$196,000
- Total assets, end of year
- $29,432,341
- Total liabilities, end of year
- $5,572,367
- Net assets or fund balances, end of year
- $23,859,974
- Program services expenses (Part IX)
- $324,566
- Management and general expenses
- $137,586
- Fundraising expenses
- $78,940
- Program service expenses (Part III)
- $324,566
Program services were 60.0% 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
$160,474
-
3 · Investment income
total $92,791 · excluded $92,791
-
11a · Other revenue: RESTRICTED INCOME CHAN
total -$196,000 · related or exempt -$196,000
-
11e · Other revenue, total
-$196,000
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $131,250 · program services $96,875 · management and general $11,250 · fundraising $23,125
-
7 · Other salaries and wages
total $165,938 · program services $111,698 · management and general $24,146 · fundraising $30,094
-
9 · Other employee benefits
total $651 · management and general $651
-
10 · Payroll taxes
total $26,994 · program services $18,945 · management and general $3,215 · fundraising $4,834
-
11a · Fees: management
total $34,154 · program services $30,200 · management and general $954 · fundraising $3,000
-
11c · Fees: accounting
total $61,940 · management and general $61,940
-
11g · Fees: other
total $28,055 · management and general $17,750 · fundraising $10,305
-
13 · Office expenses
total $2,418 · program services $1,697 · management and general $288 · fundraising $433
-
14 · Information technology
total $7,487 · management and general $7,487
-
16 · Occupancy
total $32,566 · program services $22,855 · management and general $3,879 · fundraising $5,832
-
23 · Insurance
total $7,957 · program services $4,563 · management and general $2,230 · fundraising $1,164
-
24a · Other expenses: MEMORIAL EVENTS
total $35,738 · program services $35,738
-
24b · Other expenses: PAYROLL PROCESSING FEE
total $2,847 · management and general $2,847
-
24c · Other expenses: DUES AND SUBSCRIPTIONS
total $1,395 · program services $1,395
-
24d · Other expenses: TAXES AND LICENSES
total $855 · program services $600 · management and general $102 · fundraising $153
-
24e · All other expenses
total $847 · management and general $847
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $10,894,737 · end of year $10,149,996
-
2 · Savings and temporary cash investments
beginning of year $1,000,027 · end of year $1,041,155
-
3 · Pledges and grants receivable
end of year $2,100
-
9 · Prepaid expenses and deferred charges
beginning of year $3,000 · end of year $7,752
-
15 · Other assets
beginning of year $17,915,597 · end of year $18,231,338
-
17 · Accounts payable and accrued expenses
beginning of year $297,530 · end of year $178,479
-
25 · Other liabilities
beginning of year $5,172,030 · end of year $5,393,888
-
27 · Net assets without donor restrictions
beginning of year $4,412,494 · end of year $4,123,037
-
28 · Net assets with donor restrictions
beginning of year $19,931,307 · end of year $19,736,937
Mission and programs · 2023
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 2023, 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 $289,883.
Expenses $324,566
As filed on the 2023 return.
Listed in Part VII
-
COL RICHARD W DEAN II USA R
VICE-CHAIRMAN/CONSTRUCTION
- Total calculated
- $0
- Hours/week
- 20
-
LTG BERNARD S CHAMPOUX USA R
VICE-CHAIRMAN
- Total calculated
- $0
- Hours/week
- 5
-
GEN JOHN H TILELLI JR USA R
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 10
-
MARK WILLIAM LIPPERT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
SUNNY PARK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
COL LOUIS BERMAN USA R
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
THOMAS S KIM
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 5
-
MICHEL AU BUCHON
SECRETARY/TREASURER TO MAY
- Total calculated
- $31,750
- From this org
- $31,250
- From related orgs
- $0
- Other
- $500
- Hours/week
- 40
-
SEUNG JOON LEE
PRESIDENT
- Total calculated
- $100,000
- From this org
- $100,000
- 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
- 2023
- Filed
- 30 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202441529349300819
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