Us-Korea Arts Foundation in Burke, Virginia (VA)

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Us-Korea Arts Foundation
Employer Identification Number (EIN)264472874
Name of OrganizationUs-Korea Arts Foundation
In Care of NameSook Kim
Address8996 Burke Lake Suite L106, Burke, VA 22015
Websitehttp://www.uskaf.org
SubsectionCharitable Organization
Ruling Date05/2009
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period2011
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$37,458
Amount of Income$157,628
Form 990 Revenue Amount$157,628
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Arts, Cultural Organizations - Multipurpose


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Amount of income in 2011: $157,628 (it was $187,511 in 2013)
This organization: 

 $157,628
Other organizations performing similar types of work: 

 $59,050

Assets in 2011: $37,458 (it was $31,426 in 2013)
Us-Korea Arts Foundation: 

 $37,458
Other organizations performing similar types of work: 

 $25,518

Expenses in 2013: $199,516
Us-Korea Arts Foundation: 

 $199,516
Other organizations performing similar types of work: 

 $51,518

Income to expenses ratio in 2013: 0.8
Us-Korea Arts Foundation: 

 0.8
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2013: 100.0%
Us-Korea Arts Foundation: 

 100.0%
Other organizations performing similar types of work: 

 1.3%

Financial snapshot ($)

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20122013
Total revenue$107,395$187,511
Contributions, gifts, grants, and similar amounts received$107,395$187,511
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$0$0
Investment income$0$0
Gain/Loss from sale of assets other than inventory$0$0
Net income/loss from gaming and fundraising events$0$0
Gross profit/loss from sales of inventory$0$0
Other revenue$0$0
Total expenses$94,454$199,516
Total net assets$19,450$7,446
Excess/Deficit for the year$12,940$-12,005
Net assets or fund balances at beginning of year$6,510$19,451
Other changes in net assets or fund balances$0$0
Net assets or fund balances at end of year$19,450$7,446
Balance Sheets
20122013
Total assets$43,430$31,426
Total liabilities$23,980$23,980
Net assets or fund balances$19,450$7,446
Other Information
20122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0
Gross receipts for public use of club facilities$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2009 - 2013)
2009 - 2013 Total
Public Support$323,026
Subtotal Support$323,026
Gifts, grants, contributions, and membership fees received$323,026
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$0
Total Support$323,026
Public Support$323,026
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Womans Art Club Of Cincinnati Foundation6980 Cambridge Ave, Cincinnati, OH 45227-3362OH2007-03$122,085
2William King Museum Of Art415 Academy Dr Nw, Abingdon, VA 24210-2617VA1992-08$1,314,021
3Suffolk Center For Cultural Arts Foundation110 W Finney Ave, Suffolk, VA 23434-5265VA2002-02$1,127,519
4Torpedo Factory Art Center Board Inc105 N Union St, Alexandria, VA 22314-3217VA2011-06$966,982
5Virginia Business Higher Education Council1108 E Main St Ste 1100, Richmond, VA 23219-3535VA1997-05$741,950
6Wayne Theatre Alliance IncPO BOX 1821, Waynesboro, VA 22980-7521VA2001-02$502,652
7Rpac Opportunities Initiative901 E Cary St, Richmond, VA 23219-4063VA2010-02$349,666
8Karabakh Foundation2124 Natahoa Ct, Falls Church, VA 22043-1948VA2010-05$310,524
9Tidewater Arts Outreach809 Brandon Ave Ste 300, Norfolk, VA 23517-1676VA2004-05$185,710
10Gallery5200 W Marshall St, Richmond, VA 23220-3932VA2009-08$176,587
11Giving Light15 Stephanies Rd, Hampton, VA 23666-2896VA2012-09$164,918
12Us-Korea Arts Foundation8996 Burke Lake Suite L106, Burke, VA 22015VA2009-05$157,628
13American Swing11650 Forest Hill Court, Farifax, VA 22030VA2008-08$134,995
14Teo Chew Association Of Greater Washington Inc6720 Arlington Blvd, Falls Church, VA 22042-2105VA1998-07$124,960
15Virginia Beach Educational Broadcast Foundation Inc3500 Virginia Beach Blvd Ste 201, Virginia Bch, VA 23452-4445VA2014-06$112,209
16Art In Public PlacesPO BOX 1502, Bristol, VA 24203-1502VA2010-06$103,933
17Rockingham Council Of The Arts Inc, Shenandoah Council Of The Arts103 S Main St, Harrisonburg, VA 22801-3602VA2000-08$103,369
18Breakthrough Art Foundation650 Walker Road, Great Falls, VA 22066VA2010-06$92,573
19New City Arts InitiativePO BOX 1293, Charlottesvle, VA 22902-1293VA2010-07$85,156
20Bridge PaiPO BOX 239, Charlottesvle, VA 22902-0239VA2010-08$84,063
Number of organizations performing similar types of work
Alaska22
Alabama63
Arkansas50
Arizona135
California1,022
Colorado143
Connecticut88
District of Columbia74
Delaware13
Florida371
Georgia162
Hawaii83
Iowa63
Idaho34
Illinois240
Indiana102
Kansas48
Kentucky74
Louisiana85
Massachusetts189
Maryland133
Maine46
Michigan156
Minnesota133
Missouri129
Mississippi35
Montana33
North Carolina169
North Dakota14
Nebraska42
New Hampshire25
New Jersey180
New Mexico70
Nevada39
New York667
Ohio194
Oklahoma53
Oregon141
Pennsylvania218
Rhode Island33
South Carolina64
South Dakota17
Tennessee93
Texas380
Utah63
Virginia178
Vermont26
Washington183
Wisconsin110
West Virginia47
Wyoming10
International21
Total6,763

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