World Tang Soo Do Association
Nonprofit profile at a glance
- EIN
- 222429979
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Burlington, NC, USA
- Phone
- 3362230056
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Amateur Sports
Reported finances
- Revenue
- $1,583,882
- Expenses
- $1,560,943
- Assets
- $1,288,738
- Liabilities
- $46,084
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
35 people listed
Executive titles in this filing
- FRANK FATTORI (CEO/PRESIDENT)
- NICOLE PETERMAN (OPERATIONAL VICE PRESIDENT)
- MICHAEL INOSHITA (OPERATIONAL VICE PRESIDENT)
Highest reported compensation
- GIDEON LEE (COO/CHIEF OF STAFF): $79,148 total reported compensation
- FRANK FATTORI (CEO/PRESIDENT): $35,000 total reported compensation
- WILLIAM STRONG (GRANDMASTER): $26,000 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 world tang soo do association was established to provide quality instruction in the ancient art of tang soo do and to help students improve their appreciation of life through the development of physical and cognitive skills, (continued on schedule o)and to promote overall well-being for the communities in which it serves, through a curriculum of discipline and exercise, focused on the core values of an ancient form of martial art.
What it reported doing in 2024
The association has 24 regions around the world, 20 of which are currently active. Each region has at least one championship each year. Further, the association holds a world championship on a biannual basis, during which association members from around the world gather to renew friendships, engage in healthy competition, and learn the latest techniques offered by the association. Each region also holds numerous seminars throughout the year, during which students have the opportunity to learn from a vast array of master instructors. Championships and seminars provide a forum for maintaining and preserving the tradition of tang soo do. (continued on schedule o)each region also holds an annual black belt camp for its black belt and cho dan bo (one level below black belt) members. These camps train over 1,000 students in the art of teaching tang soo do, and provide attendees a chance to learn new skills and enhance existing ones. In addition, the association holds three clinics per year for its master instructors - one in the us, one in europe, and one in south america. During the clinic, master instructors have a chance to refresh themselves on best practices to teach tang soo do, as well as enhance their own skills. Typically, the combined attendance at these masters' clinics exceeds 300 master instructors.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 100% 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.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 76
- Transparency & Controls: 90
- Accountability: 55
- Sustainability: 40
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 87.5%; rating input score 88
- Program expense ratio: 81.8%; rating input score 82
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 78.8%; rating input score 79; 17th percentile among comparable filings
- Governance controls: 2 of 9 controls in place; rating input score 22
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 1.4%; rating input score 40; 40th percentile among comparable filings
- Total-asset coverage ratio: 0.83; rating input score 37; 37th percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 56; 56th percentile among comparable filings
- Officer compensation ratio: 11.8%; rating input score 31; 31st percentile among comparable filings
Growth
- Program expense growth: 2.4% per year; rating input score 100; 28th percentile among comparable filings
- Revenue growth: 1.6% per year; rating input score 100; 22nd percentile among comparable filings
- Asset growth: 3% per year; rating input score 100; 29th percentile among comparable filings
Details
- Where the money goes: 87.5% of revenue deployed · 81.8% of spending went to programs
- Governance: 26 of 33 board members independent · 2 of 9 filing controls reported
- Programs: 5 filed program accomplishments · $1.3M in reported program spending
- Leadership: top reported pay $79K · 35 people listed
- Consistency: 24 of 24 current checks pass
- Schedules: 3 filed schedules
- Filing history: 13 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 7 filed money-flow records
- Related organizations: 1 filed related-organization link
- 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 — Accountability: Governance controls: 6 of 8 not reported.
- Moderate — Sustainability: Operating margin scored 40/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
- Moderate — Sustainability: Officer compensation ratio scored 31/100.
- Review — Sustainability: Liabilities to assets ratio scored 56/100.