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US Future Leadership Foundationinc

IRS exemption revoked

Taunton, MAUnknown exempt organization EIN 47-4045896Revenue $316K in FY2021

On file with the IRS1 Porter St · Taunton, MA

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1. To reach taekwondo to children grades k-12, while promoting in the students the core beliefs; respect, honesty, humility, perseverance and self contorl. 2. To promote a positive learning environment. That carries throughout the students' lives. 3. To expand taekwondo nationwide by making IT a part of the public school curriculum.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average surplus $6K a year · 2% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$28K
52% of total assets
Fine: liabilities are 52% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$316K
+16% vs prior year
Spent
$317K
To programs
100%
Net assets
$25K
By yearFY2019–FY2021
Revenue
$316K
FY2021▲ +16%
Tap a bar for its year
Revenue by fiscal year
FY2019$184K
FY2020$272K
FY2021$316K
Expenses
$317K
FY2021▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2019Not on file
FY2020$259K
FY2021$317K
Net assets
$25K
FY2021▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2019$13K
FY2020$27K
FY2021$25K

From the FY2021 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2025

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $317K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Sean Megley
Director
$0Pt VII · Sec A
Peter Hun Dong
Executive Di
$0Pt VII · Sec A
Jin Wook Oh
President
$0Pt VII · Sec A
See US Future Leadership Foundationinc executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Teaches children Taekwondo, fostering respect and self-control, aiming for nationwide school inclusion.

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Provided by the organization

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1 program · $317K · in their own filed words · FY2021
01

The organization provides taekwondo education to public school children under K-12TH grade.

$317Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$316K
Ln 12
Fees for servicesLn 2g$316K
Money outPt IX
$317K
Ln 25
Programscol B$317K
Owns and owesPt X
$25K
net assets · Ln 32
Cash and savingsLn 1–2$53K
Total assetsLn 16$53K
LiabilitiesLn 26$28K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$316K
Total revenueLn 12$316K
Assets in detailPt X, end of year
CashLn 1$53K
Cash and savings togetherLn 1–2$53K
Total assetsLn 16$53K
LiabilitiesLn 26$28K
Net assetsLn 32$25K
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$38K$53K
Total assetsLn 16$38K$53K
LiabilitiesLn 26$12K$28K
Net assetsLn 32$27K$25K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$76K$76K
Payroll taxesLn 10$6K$6K
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$174K$174K
Advertising and promotionLn 12$879$879
Information technologyLn 14$3K$3K
OccupancyLn 16$50K$50K
InsuranceLn 23$5K$5K
Total functional expensesLn 25$317K$317K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $316K$317K−$1K$25K 990 PDF
FY2020 $272K$259K$13K$27K 990 PDF
FY2019 $184K$13K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $315,784 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $271,818$315,784
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $271,818$315,784
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $60,611$82,332
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $197,962$234,866
I-18 Total expensesPrior year $258,573$317,198
I-19 Revenue less expensesPrior year $13,245−$1,414
Part VI · Governance 0 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $315,784 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $315,784$315,784
VIII-12 Total revenueRelated to mission $315,784$315,784
Part IX · Statement of functional expenses $317,198 across 8 lines filed
IX-7 Other salaries and wagesPrograms $76,214$76,214
IX-10 Payroll taxesPrograms $6,118$6,118
IX-11c Accounting feesPrograms $1,800$1,800
IX-11g Other fees for servicesPrograms $174,446$174,446
IX-12 Advertising and promotionPrograms $879$879
IX-14 Information technologyPrograms $2,975$2,975
IX-16 OccupancyPrograms $50,000$50,000
IX-23 InsurancePrograms $4,766$4,766
IX-25 Total functional expensesPrograms $317,198 · Management $0 · Fundraising $0$317,198
Part X · Balance sheet $53,005 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $38,472$53,005
X-16 Total assetsStart of year $38,472$53,005
X-17 Accounts payable and accrued expensesStart of year $11,738$27,685
X-26 Total liabilitiesStart of year $11,738$27,685
X-27 Net assets without donor restrictionsStart of year $26,734$25,320
X-32 Total net assets or fund balancesStart of year $26,734$25,320
X-33 Total liabilities and net assetsStart of year $38,472$53,005
Part XI · Reconciliation of net assets $25,320 net assets at year end
XI-1 Total revenue$315,784
XI-2 Total expenses$317,198
XI-3 Revenue less expenses−$1,414
XI-4 Net assets at start of year$26,734
XI-10 Net assets at end of year$25,320

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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