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Nonprofiteer
← GEN RICHARD G STILWELL KOREAN WAR VETERANS MEMORIAL FOUNDATION

Form 990 for tax year 2024

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

Totals

Total revenue
$114,696
Total expenses
$571,251
Contributions and grants received
$25,201
Grants paid
$0
Program service revenue
$0
Investment income
$90,327
Other revenue
-$832
Total assets, end of year
$28,790,682
Total liabilities, end of year
$5,387,263
Net assets or fund balances, end of year
$23,403,419
Program services expenses (Part IX)
$293,265
Management and general expenses
$181,379
Fundraising expenses
$96,607
Program service expenses (Part III)
$293,265

Program services were 51.3% 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.

  • 1e · Government grants (contributions)

    $125

  • 1f · All other contributions, gifts and grants

    $25,076

  • 3 · Investment income

    total $90,327 · excluded $90,327

  • 11a · Other revenue: RESTRICTED INCOME CHAN

    total -$832 · related or exempt -$832

  • 11e · Other revenue, total

    -$832

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $100,000 · program services $75,000 · management and general $5,000 · fundraising $20,000

  • 7 · Other salaries and wages

    total $170,000 · program services $66,750 · management and general $66,750 · fundraising $36,500

  • 10 · Payroll taxes

    total $22,755 · program services $11,946 · management and general $6,047 · fundraising $4,762

  • 11b · Fees: legal

    total $1,327 · management and general $1,327

  • 11c · Fees: accounting

    total $54,413 · management and general $54,413

  • 11g · Fees: other

    total $19,346 · management and general $15,101 · fundraising $4,245

  • 13 · Office expenses

    total $1,441 · program services $757 · management and general $383 · fundraising $301

  • 14 · Information technology

    total $6,273 · program services $3,293 · management and general $1,667 · fundraising $1,313

  • 16 · Occupancy

    total $34,983 · program services $18,869 · management and general $9,015 · fundraising $7,099

  • 22 · Depreciation, depletion and amortization

    total $9,805 · program services $5,148 · management and general $2,605 · fundraising $2,052

  • 23 · Insurance

    total $10,530 · program services $4,298 · management and general $4,519 · fundraising $1,713

  • 24a · Other expenses: MEMORIAL EVENTS

    total $83,324 · program services $83,324

  • 24b · Other expenses: WEB/SOCIAL MEDIA MANAGE

    total $42,236 · program services $22,174 · management and general $11,224 · fundraising $8,838

  • 24c · Other expenses: FUNDRAISING EXPENSES

    total $9,784 · fundraising $9,784

  • 24d · Other expenses: PAYROLL PROCESSING FEE

    total $3,106 · management and general $3,106

  • 24e · All other expenses

    total $1,928 · program services $1,706 · management and general $222

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,149,996 · end of year $9,496,326

  • 2 · Savings and temporary cash investments

    beginning of year $1,041,155 · end of year $1,089,320

  • 3 · Pledges and grants receivable

    beginning of year $2,100 · end of year $3,618

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,752 · end of year $4,796

  • 10a · Land, buildings and equipment: cost or other basis

    $49,822

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,805

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $40,017

  • 15 · Other assets

    beginning of year $18,231,338 · end of year $18,156,605

  • 17 · Accounts payable and accrued expenses

    beginning of year $178,479 · end of year $19,365

  • 25 · Other liabilities

    beginning of year $5,393,888 · end of year $5,367,898

  • 27 · Net assets without donor restrictions

    beginning of year $4,123,037 · end of year $3,666,061

  • 28 · Net assets with donor restrictions

    beginning of year $19,736,937 · end of year $19,737,358

Mission and programs · 2024

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.

    Expenses $293,265

As filed on the 2024 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

  • 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
2024
Filed
24 October 2025
IRS schema version
2024v5.2
Source object
202523019349301777

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