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Ifcma INC FY2022 filing

Tax-deductible

Gaithersburg, MD501(c)(3)Recreation & Sports EIN 85-4007596Revenue $84K in FY2022

On file with the IRSifcmafitness.org18860 Woodfield Road H, 20879-6708 · Gaithersburg, MDTax-exempt since May 2022Publicly supported — 509(a)(2)

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IFCMA serves the greater community to promote the health of people of all ages backgrounds and diversities through fitness martial arts

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $6K a year · 9% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$509
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$84K
+59% vs prior year
Spent
$69K
To programs
92%
Net assets
$21K
By yearFY2021–FY2024
Revenue
$84K
FY2022▲ +59%
Tap a bar for its year
Revenue by fiscal year
FY2021$53K
FY2022$84K
FY2023$80K
FY2024$67K
Expenses
$69K
FY2022▲ +50%
Tap a bar for its year
Expenses by fiscal year
FY2021$46K
FY2022$69K
FY2023$69K
FY2024$74K
Net assets
$21K
FY2022▲ +225%
Tap a bar for its year
Net assets by fiscal year
FY2021$6K
FY2022$21K
FY2023$32K
FY2024$25K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2022.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $63K Management & general 8% · $6K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Kenny Lew
Officer
$0Pt VII · Sec A
JR Brown
Officer
$0Pt VII · Sec A
Gabe Chang
Officer
$0Pt VII · Sec A
See Ifcma INC 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes community health for all ages and backgrounds through fitness and martial arts.

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Provided by the organization

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2 programs · $63K · in their own filed words · FY2022
01

Iron fist chinese martial arts' (ifcma's) martial arts and kickboxing classes provide specialized training methods to teens and adults that build their physical strength and instill a special mental discipline meant to strengthen their spirits and develop their ability to deal with confrontations under intense stress.

$63Kprogram expense
02

4) boost mobility and body control. Ifcma has established a scholarship program that reduces membership rates for low-income households. This initiative ensures that all children and families have access to the physical, mental and social benefits of martial arts training, regardless of their financial situation.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$84K
Ln 12
Fees for servicesLn 2g$83K
Gifts and grantsLn 1h$200
Money outPt IX
$69K
Ln 25
Programscol B$63K
Managementcol C$6K
Owns and owesPt X
$21K
net assets · Ln 32
Cash and savingsLn 1–2$17K
Total assetsLn 16$22K
LiabilitiesLn 26$509
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$200
Fees for servicesLn 2g$83K
Total revenueLn 12$84K
Assets in detailPt X, end of year
CashLn 1$16K
SavingsLn 2$925
Cash and savings togetherLn 1–2$17K
Other assetsLn 15$1K
Total assetsLn 16$22K
LiabilitiesLn 26$509
Net assetsLn 32$21K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$3K$17K
Total assetsLn 16$7K$22K
LiabilitiesLn 26$509$509
Net assetsLn 32$6K$21K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$117$117
Advertising and promotionLn 12$8K$8K
Office expensesLn 13$2K$2K
Information technologyLn 14$885$832$53
OccupancyLn 16$40K$38K$2K
InsuranceLn 23$1K$1K$83
Other expenses (24a–d)Ln 24$16K$16K$811
Total functional expensesLn 25$69K$63K$6K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $67K$74K−$6K$25K 990 PDF
FY2023 $80K$69K$11K$32K 990 PDF
FY2022 Viewing $84K$69K$15K$21K 990 PDF
FY2021 $53K$46K$6K$6K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $83,653 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $17,039$200
I-9 Program service revenuePrior year $35,609$83,453
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $52,648$83,653
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $46,161$69,080
I-18 Total expensesPrior year $46,161$69,080
I-19 Revenue less expensesPrior year $6,487$14,573
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $83,653 across 4 lines filed
VIII-1f All other contributions, gifts and grants$200
VIII-1h Total contributions, gifts and grants$200
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $83,453$83,453
VIII-12 Total revenueRelated to mission $83,453 · Unrelated business $0 · Excluded from tax $0$83,653
Part IX · Statement of functional expenses $69,080 across 7 lines filed
IX-11c Accounting feesPrograms $117$117
IX-12 Advertising and promotionPrograms $8,014$8,014
IX-13 Office expensesManagement $2,242$2,242
IX-14 Information technologyPrograms $832 · Management $53$885
IX-16 OccupancyPrograms $37,713 · Management $2,407$40,120
IX-23 InsurancePrograms $1,294 · Management $83$1,377
IX-24 Other expenses (24a–d)Programs $15,514 · Management $811$16,325
IX-25 Total functional expensesPrograms $63,484 · Management $5,596 · Fundraising $0$69,080
Part X · Balance sheet $21,568 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $2,446$16,393
X-2 Savings and temporary cash investmentsStart of year $300$925
X-9 Prepaid expenses and deferred chargesStart of year $3,000$3,000
X-15 Other assetsStart of year $1,250$1,250
X-16 Total assetsStart of year $6,996$21,568
X-17 Accounts payable and accrued expensesStart of year $509$509
X-26 Total liabilitiesStart of year $509$509
X-27 Net assets without donor restrictionsStart of year $6,487$21,059
X-32 Total net assets or fund balancesStart of year $6,487$21,059
X-33 Total liabilities and net assetsStart of year $6,996$21,568
Part XI · Reconciliation of net assets $21,059 net assets at year end
XI-1 Total revenue$83,653
XI-2 Total expenses$69,080
XI-3 Revenue less expenses$14,573
XI-4 Net assets at start of year$6,487
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$21,059

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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