Articles of Incorporation were filed in April 2003, which formed the non-profit corporation, International Taekwondo Friendship Tournament.
The Department of the Treasury classified in 2003 the International Taekwondo Friendship Tournament, EIN 42-1585720, a 501(c)(3) public charity.
The Articles of the International Taekwondo Friendship Tournament Constitution were adopted by the corporation’s initial trustees, the IOFTC Board Members, in January 2005.
Per Articles of Incorporation, the International Taekwondo Friendship Tournament is organized exclusively to foster national and international amateur sports competition.
The International Open Friendship Taekwondo Championships operate under Article II of the Constitution to provide a supervised program of competitive Taekwondo.
Under Article X of the Constitution , all Directors, Officers and Members of the International Taekwondo Friendship Tournament, and International Open Friendship Taekwondo Championships, receive NO salary, compensation or emoluments – directly or indirectly.
The INTERNATIONAL TAEKWONDO FRIENDSHIP TOURNAMENT Corporation was organized exclusively to foster national and international amateur sports competition. The stated objective shall be to implant firmly in the members and supporters of the community the ideals of good sportsmanship, honesty, loyalty, courage, and respect for authority, so that they may be well adjusted, stronger and happier members of society and will grow to be good, decent, healthy, and trustworthy citizens. These Championships promote friendship, goodwill, and competition among Taekwondo athletes. They provide an excellent opportunity for cultural exchange and for competitors from throughout the world to develop bonds of friendship and camaraderie that will last a lifetime. The experiences gained by participating can be used to establish milestones for the development of life skills, as well as Taekwondo skills.