In God We Trust
The financial accounts for the Korean War Educator Foundation were originally located in Villa Grove State Bank, Villa Grove, IL 61956. Those accounts were closed in 2003, and new ones were opened at the 1st Mid-Illinois Bank in Tuscola. There are three savings accounts (Endowment, Web Hosting, and Legal Defense) and a checking account. Bank printouts of income/expenditure transactions are in the care of Lynnita Brown, Korean War Educator, 111 E. Houghton Street, Tuscola, IL 61953.
Effective September 2003, the Korean War Educator Foundation became a membership-driven organization. Its primary source of income is derived from membership dues, and private and corporate donations. An application for federal tax-exempt status for the foundation was filed with the Internal Revenue Service on August 20, 2001. On January 29, 2002, an advance ruling was made determining that the Korean War Educator Foundation is exempt from federal income tax under section 501(a) of the Internal Revenue Code as an organization described in section 501(c)(3). The advance ruling period is now at an end, and Form 8734 (Support Schedule for Advance Ruling Period) was completed and mailed to the IRS in Covington, Kentucky, on March 17, 2005. Donations to The Korean War Educator Foundation can be included as deductions when you file your income tax return. Copies of the IRS determination letter are available upon request through Lynnita Brown, 111 E. Houghton St., Tuscola, IL 61953.
The Foundation's treasury was started with a single $25 contribution from Jo Quick of Milwaukee, Wisconsin to Lynnita in March of 2001. The check was given in memory of Jo's husband, Wil Quick. Wil was a Korean War veteran who participated in an interview with Lynnita just weeks prior to his unexpected death. His tape-recorded memoirs with Mrs. Brown are the only ones that he documented in his lifetime. The $25 donation from his widow opened the Korean War Educator Foundation's account at Villa Grove State Bank. Korean War H-3-7 Marines gave a $200 contribution in May of 2001, and this was followed by a $1,000 donation from 1-7 Marine reunion participants in Branson, Missouri, the same month. Contributions to the Foundation in memory of Army veteran Al Gavin of Wisconsin also boosted the original funds in the Foundation's treasury. The KWE's checking account was opened at 1st Mid-Illinois Bank, Tuscola, in 2003, following a $5,000 grant from McCormick-Tribune Foundation. Its savings account (Endowment Fund) was opened at 1st Mid-Illinois Bank, Tuscola, in September 2003 with funds from life membership dues. A second savings account (Web Hosting Fund) was opened in 2005 to hold cash donations to pay for the annual web hosting fee to keep the KWE online.
The Korean War Educator website is hosted by CloudCarpenter Websites at a cost of $360/year, plus $15 per year for each of our additional domains. The biggest portion of funds expended by the foundation to date is for the production and maintenance of this website. The original webmaster was Marine Corps veteran Julian Blagg of Tuscola (now deceased), who did not charge for his hundreds of hours of work to make this website possible. Instead, the Foundation reimbursed him for computer programs, office products, the printing of brochures, other printing costs, limited labor, and some expenses associated with the scanning of the many graphics which added to the quality of the Korean War Educator website. When Blagg retired from his computer work, the Korean War Educator contracted Simplified Computers in Champaign, Illinois to do the web work for the Korean War Educator at (discounted for nonprofits) rate of $30/hour. Additionally, Ron Janowski, then webmaster, donated time, when possible, to make updates and maintain the site. The webmaster after that, Jim Doppelhammer, likewise donated most of his time and efforts towards the website design and maintenance until he passed away. Receipts are on file in Lynnita's office regarding each expenditure. The KWE is listed on GuideStar, the National Database for Non-profit Organizations, at guidestar.org.
Although there are no salaries involved with the maintaining of this website, there are expenses and needs that must be met on a regular basis. They include the following:
Have you been disappointed with a "non-profit" organization whose governing body, or some corrupt official spent funds unwisely or illegally? A unique policy of the Korean War Educator Foundation is to post all of its income and expenditures for public viewing on this website. Physical copies can be obtained with nominal printing and mailing fees. Direct all financial inquiries to Lynnita Brown. Your queries will be answered with honesty.
To date, the Korean War Educator Foundation has an annual income that falls well below the Internal Revenue Service requirement ($25,000 annual income) to file Tax Form 990EZ. The KWE's files an annual e-postcard. CEO Lynnita Brown annually fills out a 990EZ as a means to keep the public informed about the Korean War Educator's finances. These are not filed with the IRS. They are, however, submitted to the Illinois State Attorney General's Charitable Trust Bureau to comply with the state's annual filing requirements. They are also posted on the KWE (see below) because the Korean War Educator Foundation has no problem with allowing public scrutiny of its income and expenses. Further inquiries may be directed to: Lynnita Jean Brown, 111 E. Houghton St., Tuscola, IL 61953; ph. [Please enable JavaScript.].