Nonprofit · EIN 68-0587171
USA TAEKWONDO INC
Tax-exempt · COLORADO SPRINGS, CO 80909
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $6,250,481 | $5,385,259 | $865,222 | $1,130,800 | $494,511 | $636,289 |
| December 31, 2023 | 990 | $5,844,962 | $6,224,253 | -$379,291 | $440,612 | $669,545 | -$228,933 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,408,034
- Program service revenue
- $3,839,198
- Investment income
- $0
- Royalties
- $3,249
- Other revenue
- $3,249
Expenses
- Grants and similar amounts paid
- $59,117
- Compensation of officers, directors and key employees
- $156,369
- Other salaries and wages
- $760,846
- Salaries, compensation and benefits (total)
- $1,133,460
- Professional fundraising fees
- $0
- Legal fees
- $89,821
- Accounting fees
- $15,700
- Occupancy
- $246,633
- Travel
- $881,130
- Depreciation
- $11,442
- Program services (functional)
- $4,875,488
- Management and general (functional)
- $509,771
Balance sheet and other
- Total assets, start of year
- $440,612
- Total assets, end of year
- $1,130,800
- Total liabilities, end of year
- $494,511
- Net assets, end of year
- $636,289
- Land, buildings and equipment
- $40,501
- Publicly traded securities
- $10,000
- Net assets without donor restrictions
- $636,289
- Gross receipts
- $6,250,481
- Employees
- 12
- Volunteers
- 100
- Year formed
- 2004
- State of legal domicile
- CO
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| STEPHEN MCNALLY | CHIEF EXECUTIVE OFFICER Officer | 40 | $134,723 | $21,646 |
| CHRISTINE SIMMONS | MANAGING DIRECTOR OF EVENT Highest-paid employee | 40 | $114,340 | $34,326 |
| GARETH BROWN | NATIONAL TEAM HEAD COACH Highest-paid employee | 40 | $101,256 | $28,803 |
| JAYSEN ISHIDA | AAC ATHLETE REP Trustee or director | 2 | $0 | $0 |
| DAVID TURGEON | AAC ATHLETE REP Trustee or director | 2 | $0 | $0 |
| BRIANNA SALINARO | AAC ATHLETE REP Trustee or director | 2 | $0 | $0 |
| CHEYENNE LEWIS | AAC ATHLETE REP Trustee or director | 2 | $0 | $0 |
| RON SOUTHWICK | COACH DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOHN HOLLOWAY | REFEREE DIRECTOR Trustee or director | 2 | $0 | $0 |
| BONGSEOK KIM | AFFILIATED ORGANIZATION DI Trustee or director | 2 | $0 | $0 |
| MITCH SPRENGELMEYER | INDEPENDENT DIRECTOR Trustee or director | 2 | $0 | $0 |
| DANIEL CHUN | INDEPENDENT DIRECTOR Trustee or director | 2 | $0 | $0 |
| CAROL LEWIS | CHAIR OF BOARD Trustee or director, Officer | 2 | $0 | $0 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| STEPHEN MCNALLY | CHIEF EXECUTIVE OFFICER Officer | 40 | $135,033 | $17,591 |
| CHRISTINE STRONG SIMMONS | MANAGING DIRECTOR OF EVENTS, MEMBER SERVICES Highest-paid employee | 40 | $109,135 | $26,601 |
| JAYSEN ISHIDA | AAC ATHLETE REP Trustee or director | 2 | $0 | $0 |
| DAVID TURGEON | AAC ATHLETE REP Trustee or director | 2 | $0 | $0 |
| BRIANNA SALINARO | AAC ATHLETE REP Trustee or director | 2 | $0 | $0 |
| CHEYENNE LEWIS | AAC ATHLETE REP Trustee or director | 2 | $0 | $0 |
| CAROLINE INAY-PARK | AAC ATHLETE REP Trustee or director | 2 | $0 | $0 |
| RON SOUTHWICK | COACH DIRECTOR Trustee or director | 2 | $0 | $0 |
| JOHN HOLLOWAY | REFEREE DIRECTOR Trustee or director | 2 | $0 | $0 |
| BONGSEOK KIM | AFFILIATED ORGANIZATION DIRECTOR Trustee or director | 2 | $0 | $0 |
| MITCH SPRENGELMEYER | INDEPENDENT DIRECTOR Trustee or director | 2 | $0 | $0 |
| KIM VOSS | INDEPENDENT DIRECTOR Trustee or director | 2 | $0 | $0 |
| DANIEL CHUN | INDEPENDENT DIRECTOR Trustee or director | 2 | $0 | $0 |
| YUKI RICHARDSON | INDEPENDENT DIRECTOR THROUGH 8/2023 Trustee or director | 2 | $0 | $0 |
| RAHUL BAWA | INDEPENDENT DIRECTOR THROUGH 4/2023 Trustee or director | 2 | $0 | $0 |
| JOE HAMMOND | INDEPENDENT DIRECTOR THROUGH 1/2023 Trustee or director | 2 | $0 | $0 |
| CAROL LEWIS | CHAIR OF BOARD Trustee or director, Officer | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1 OLYMPIC PLAZA, COLORADO SPRINGS, CO 80909-5780
- Principal officer (990 for 2024)
- STEPHEN MCNALLY, 1 OLYMPIC PLAZA 110, COLORADO SPRINGS, CO 80909
- Signed the 990
- RICHARD J WARWICK, SECRETARY GENERAL
- Phone
- (719) 866-3636
- Website
- WWW.USATKD.ORG
- Return prepared by
- WAUGH & GOODWIN LLP
Mission
THE PURPOSE OF USA TAEKWONDO SHALL BE TO ENABLE UNITED STATES ATHLETES TO ACHIEVE SUSTAINED COMPETITIVE EXCELLENCE IN THE SPORT OF TAEKWONDO IN THE UNITED STATES AND TO SERVE AS THE NATIONAL GOVERNING BODY FOR THE SPORT OF TAEKWONDO UNDER THE AUTHORITY OF THE UNITED STATES OLYMPIC AND PARALYMPIC COMMITTEE (USOPC) AS SET OUT BELOW. FURTHERMORE, USAT IS COMMITTED TO PROVIDING THE NECESSARY PROGRAMS, SERVICES AND SUPPORT FOR ALL TAEKWONDO PARTICIPANTS BY PROVIDING A SAFE AND POSITIVE ENVIRONMENT AS WELL AS DEMONSTRATING THE HIGH ATHLETIC SKILL, SELF-DISCIPLINE, HUMILITY, INDOMITABLE SPIRIT AND EXPRESSION OF OLYMPIC IDEALS REQUIRED TO EXCEL IN THE SPORT. USAT ENVISIONS A WORLD WHERE TAEKWONDO PARTICIPANTS OF ALL LEVELS HAVE THE NECESSARY PROGRAMS, SERVICES, SUPPORT AND TRAINING TO ACHIEVE EXCELLENCE IN THE SPORT AND THAT USAT IS SEEN AS THE PREMIER BENCHMARK FOR THE DEVELOPMENT OF TAEKWONDO AS AN OLYMPIC SPORT, METHOD OF SELF-DEFENSE, FORM OF RECREATION AND WAY OF LIFE.
Program accomplishments
- HIGH PERFORMANCE PROGRAMS - USA TAEKWONDO HAS ENTERED INTO A HIGH PERFORMANCE DEVELOPMENT AGREEMENT WITH THE UNITED STATES PERFORMANCE CENTER TO CREATE A NATIONAL PERFORMANCE, TRAINING, AND SPORT CENTER TO PROVIDE STATE-OF-THE-ART ATHLETIC TRAINING, TESTING, ASSESSMENT, EVALUATION, AND MORE. USA TAEKWONDO HOSTS FIRST-CLASS TRAINING CAMPS AND DEVELOPMENT PROGRAMS FOR ALL LEVELS OF ATHLETES, COACHES, AND OFFICIALS TO ADVANCE THEIR SKILLS AND TO PREPARE THEM FOR DOMESTIC AND INTERNATIONAL COMPETITIONS. USA TAEKWONDO ALSO HOSTS IN-HOUSE COMPETITION EVENTS: FOCUSED, INTENSE AND HIGH QUALITY, STREAMED LIVE TO DELIVER ACCESS AND EXPOSURE TO TOP-LEVEL TAEKWONDO. USA TAEKWONDO LAUNCHED USA TAEKWONDO UNIVERSITY (USATKDU) IN 2021 AND HAS SINCE CONTINUED TO ENHANCE THE SERVICES AVAILABLE. USATKDU TEACHES CUTTING-EDGE MODERN METHODS OF SPORT TAEKWONDO AND PREPARES ATHLETES FOR THE RIGORS OF INTERNATIONAL COMPETITION AND ACADEMY LIFE. USATKDU OFFERS FIVE DEGREE COURSES OF INCREASING DIFFICULTY WHICH HAVE VARYING PRICE RANGES FOR THE SERVICES PROVIDED.Expenses $2,811,500 · grants $59,117 · revenue $541,044
- NATIONAL & INTERNATIONAL EVENTS - APPROXIMATELY 4,000 ATHLETES PARTICIPATED IN DOMESTIC AND INTERNATIONAL COMPETITIONS THROUGHOUT THE YEAR. AN ADDITIONAL APPROXIMATELY 1,500 ATHLETES COMPETED AT THE STATE LEVEL IN COMPETITIONS SANCTIONED BY USA TAEKWONDO.Expenses $1,639,024 · revenue $2,600,058
- MEMBERSHIP - APPROXIMATELY 9,719 INDIVIDUALS AND 574 CLUBS ARE MEMBERS OF USA TAEKWONDO. INDIVIDUAL MEMBERS WERE PROVIDED ACCIDENT INSURANCE COVERAGE AND CLUBS RECEIVE GENERAL LIABILITY INSURANCE AS PART OF THEIR MEMBERSHIP PACKAGES. CLUBS QUALIFY TO HOST SANCTIONED USA TAEKWONDO COMPETITIONS. THE DAN OFFICE PROCESSED APPROXIMATELY 599 DOMESTIC AND INTERNATIONAL CERTIFICATIONS FOR MEMBERS AND NON-MEMBERS.Expenses $370,203 · revenue $660,596
- MEDIA - THIS PROGRAM EXISTS TO SHOWCASE THE USA TAEKWONDO PROGRAMS, INCREASE THE VISIBILITY OF THE BRAND, BRING PEIOPLE TO THE SPORT AND TO PROMOTE THE SPORT AND USA TAEKWONDO ACADEMY TEAM THROUGH DIGITAL CONTENT.Expenses $54,761 · revenue $37,500
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 68-0587171
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2004
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N70)
- Assets (IRS master file)
- $1,130,800
- Income (IRS master file)
- $6,250,481
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $6,250,481 | $5,385,259 | $1,130,800 | IRS |
| 990 | December 2023 | $5,844,962 | $6,224,253 | $440,612 | XML |
| 990 | December 2022 | $4,727,638 | $4,685,812 | $615,620 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 68-0587171).
Questions about USA TAEKWONDO INC
- What is the EIN of USA TAEKWONDO INC?
- The employer identification number (EIN) of USA TAEKWONDO INC is 68-0587171.
- Is USA TAEKWONDO INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2004.
- Are donations to USA TAEKWONDO INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does USA TAEKWONDO INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of USA TAEKWONDO INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did USA TAEKWONDO INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of USA TAEKWONDO INC?
- The 990 for the year ended December 31, 2024 names STEPHEN MCNALLY.
- Who are the officers and directors of USA TAEKWONDO INC?
- The 990 for the year ended December 31, 2024 lists 13 people; 3 received compensation from the organization, the highest $134,723 (STEPHEN MCNALLY, CHIEF EXECUTIVE OFFICER).
- How much revenue does USA TAEKWONDO INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $6,250,481, expenses of $5,385,259 and total assets of $1,130,800 at year end.
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