World Tang Soo Do Foundation

Nonprofit profile at a glance

EIN
421541371
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Burlington, NC, USA
Phone
3362230056
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$351,447
Expenses
$137,240
Assets
$4,502,961
Liabilities
$15,778

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

Leadership & pay

7 people listed

Executive titles in this filing

  • FRANK FATTORI (CEO/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

Nurture the educational growth and development via academic scholarship and promote the ideal of being a positive influence and productive participant in the community.

What it reported doing in 2024

In 2024, scholarships were awarded to 37 individuals who demonstrated a high level of academic performance, strong leadership qualities, a history of serving others through volunteerism and an ongoing commitment to understanding the lifelong benefits of training in tang soo do.

Operating model

Revenue model
Donor-supported. 66% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 94
  • Accountability: 26
  • Sustainability: 83
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 80.4%; rating input score 80
  • Fundraising efficiency: $9.12 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 28.6%; rating input score 29; 15th 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: 61%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 32.81; rating input score 98; 98th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 3%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 10.9% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: -4.8% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 3.2% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 80.4% of spending went to programs
  • Governance: 2 of 7 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $110K in reported program spending
  • Leadership: top reported pay $79K · 7 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • 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: Independent voting board scored 29/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.