2024-05-31T10:03:19-05:00 2023-12-31 541498950 RENNER AND COMPANY CPA PC 700 NORTH FAIRFAX STREET SUITE 400 ALEXANDRIA VA 22314 990 2023-01-01 521956689 GEN RICHARD G STILLWELL KOREAN WAR VETERANS MEMORIAL FOUNDATION GENR 5719825291 950 N WASHINGTON ST 220 ALEXANDRIA VA 22314 SEUNG JOON LEE PRESIDENT 5719825291 2024-05-30 1 SEUNG JOON LEE 999009999 1 ANDREW E YOUNG CPA P01203950 7035351200 2024-05-30 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z SEUNG JOON LEE 950 N WASHINGTON ST 220 ALEXANDRIA VA 22314 57265 0 X HTTPS://KOREANWARVETSMEMORIAL.ORG/ X 1995 DC THE MISSION OF THE FOUNDATION IS TO HONOR, PRESERVE AND EDUCATE THE PUBLIC ABOUT THE COURAGE AND SACRIFICE OF THOSE WHO FOUGHT FOR A PEOPLE THEY HAD NEVER MET IN A COUNTRY THEY DID NOT KNOW. 7 7 6 7 0 0 2785791 160474 0 0 9274 92791 0 -196000 2795065 57265 0 0 0 0 201450 324833 14930 0 78940 1272617 216259 1488997 541092 1306068 -483827 29813361 29432341 5469560 5572367 24343801 23859974 THE MISSION OF THE FOUNDATION IS TO HONOR, PRESERVE, AND EDUCATE THE PUBLIC ABOUT THE COURAGE AND SACRIFICE OF THOSE WHO FOUGHT FOR A PEOPLE THEY HAD NEVER MET IN A COUNTRY THEY DID NOT KNOW. 0 0 324566 THE FOUNDATION SUPPORTS THE MAINTENANCE OF THE KOREAN WAR VETERANS MEMORIAL WHICH IS OWNED BY THE US PARK SERVICE AND CONDUCTS ACTIVITIES TO RAISE AWARENESS AND EDUCATE THE PUBLIC ABOUT THE KOREAN WAR. THE FOUNDATION BEGAN REFURBISHMENTS TO THE ORIGINAL MEMORIAL AND ALSO BEGAN CONSTRUCTION OF THE WALL OF REMEMBRANCE, AN ADDITION TO THE EXISTING MEMORIAL. DURING 2023, IN ADDITION TO THE PROGRAM EXPENSES REPORTED ON PAGE 10, THE FOUNDATION ALSO INCURRED AND CAPITALIZED COSTS FOR THE DESIGN AND CONSTRUCTION OF THE WALL OF REMEMBRANCE IN THE AMOUNT OF $289,883. 324566 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 6 0 1 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 CA CO FL HI IL ME MD MA MN MS NV NH NJ NY NC ND OH OK OR PA RI SC UT VA WA WV WI X HEYLIM WU EXECUTIVE ASSISTANT TO THE PRESIDENT 5719825291 950 NORTH WASHINGTON STREET SUITE ALEXANDRIA VA 22314 COL RICHARD W DEAN II USA R VICE-CHAIRMAN/CONSTRUCTION 20.00 X X 0 0 0 LTG BERNARD S CHAMPOUX USA R VICE-CHAIRMAN 5.00 X X 0 0 0 GEN JOHN H TILELLI JR USA R CHAIRMAN 10.00 X X 0 0 0 MARK WILLIAM LIPPERT BOARD MEMBER 5.00 X 0 0 0 SUNNY PARK BOARD MEMBER 5.00 X 0 0 0 COL LOUIS BERMAN USA R BOARD MEMBER 5.00 X 0 0 0 THOMAS S KIM BOARD MEMBER 5.00 X 0 0 0 MICHEL AU BUCHON SECRETARY/TREASURER TO MAY 40.00 X 31250 0 500 SEUNG JOON LEE PRESIDENT 40.00 X 100000 0 0 131250 0 500 0 0 0 0 WHITING- TURNER 300 EAST JOPPA ROAD BALTIMORE MD 21286 CONSTRUCTION 144182 1 160474 160474 92791 92791 RESTRICTED INCOME CHAN 999999 -196000 -196000 -196000 57265 -196000 0 92791 131250 96875 11250 23125 165938 111698 24146 30094 651 651 26994 18945 3215 4834 34154 30200 954 3000 61940 61940 28055 17750 10305 2418 1697 288 433 7487 7487 32566 22855 3879 5832 7957 4563 2230 1164 MEMORIAL EVENTS 35738 35738 PAYROLL PROCESSING FEE 2847 2847 DUES AND SUBSCRIPTIONS 1395 1395 TAXES AND LICENSES 855 600 102 153 847 847 541092 324566 137586 78940 10894737 10149996 1000027 1041155 2100 3000 7752 17915597 18231338 29813361 29432341 297530 178479 5172030 5393888 5469560 5572367 X 4412494 4123037 19931307 19736937 24343801 23859974 29813361 29432341 -483827 0 X X 0 1 X 1 0 X 942428 2019223 19233609 2565791 160474 24921525 942428 2019223 19233609 2565791 160474 24921525 1113249 23808276 19886 62586 20578 9274 92791 205115 25126640 34129 0.94750 0.95020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1000000 1000000 1000000 1000000 1000000 1000000 1000000 1000000 1000000 1000000 1.00000 0 0 0 WALL OF REMEMBRANCE - CAPITALIZED COSTS, DESIGN AND CONSTRUCTION 18135539 WEBSITE DEVELOPMENT IN PROGRESS 38242 WALL OF REMEMBRANCE MOBILE APP DEVELOPMENT IN PROGRESS 9669 RIGHT OF USE ASSET 47888 18231338 ESTIMATED LIABILITY TO REPUBLIC OF KOREA 5346000 LEASE LIABILITY 47888 5393888 X 168265 111000 111000 57265 0 57265 652092 111000 111000 541092 0 541092 PART V, LINE 4: THE PRINCIPAL OF THIS DONOR RESTRICTED ENDOWMENT IS TO BE HELD IN PERPETUITY AND THE EARNINGS ARE TO BE USED FOR UNRESTRICTED PURPOSES. PART X, LINE 2: THE FOUNDATION FOLLOWS THE AUTHORITATIVE GUIDANCE RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES INCLUDED IN ASC TOPIC 740-10, INCOME TAXES. THESE PROVISIONS PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT IS THE FOUNDATION'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSES. THE FOUNDATION PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED DECEMBER 31, 2023 AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION ON THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. THE STATUTE OF LIMITATIONS GENERALLY REMAINS OPEN FOR THREE TAX YEARS WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH THE FOUNDATION FILES TAX RETURNS. FORM 990, PART X LINE 15 THE TOTAL BALANCE OF OTHER ASSETS IS DESCRIBED IN PART IX. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS A DRAFT OF THE 990 THEN PROVIDES A COPY TO THE BOARD FOR REVIEW BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE PRESIDENT MONITORS AND ENFORCES THE CONFLICT OF INTEREST POLICY AT LEAST ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST PART XII, LINE 2C THE ORGANIZATION'S PRESIDENT OVERSEES THE AUDIT AND THE SELECTION OF AN INDEPENDENT AUDITOR WITH DIRECTION FROM THE BOARD OF DIRECTORS.