USA Taekwondo Inc

Nonprofit profile at a glance

EIN
680587171
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Colorado Springs, CO, USA
Phone
7198663636
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Amateur Sports Competitions

Official website

Reported finances

Revenue
$6,250,481
Expenses
$5,385,259
Assets
$1,130,800
Liabilities
$494,511

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • STEPHEN MCNALLY (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • STEPHEN MCNALLY (CHIEF EXECUTIVE OFFICER): $156,369 total reported compensation
  • CHRISTINE SIMMONS (MANAGING DIRECTOR OF EVENT): $148,666 total reported compensation
  • GARETH BROWN (NATIONAL TEAM HEAD COACH): $130,059 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Other-operating. 61% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 70
  • Accountability: 100
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78%; rating input score 78
  • Program expense ratio: 90.5%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 13.8%; rating input score 69; 69th percentile among comparable filings
  • Total-asset coverage ratio: 0.21; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.44; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 8.1%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 6.8% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: 78% of revenue deployed · 90.5% of spending went to programs
  • Governance: 10 of 10 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $4.9M in reported program spending
  • Leadership: top reported pay $156K · 13 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.