Institute Of Chung Hwa Buddhist Culture Inc
- Assets
- $23.1m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Elmhurst, NY
- Founding
- 08/1980
- Data as of
- 06/2022
- EIN
- 11-2503369
Organization Overview
Institute Of Chung Hwa Buddhist Culture Inc is located in Elmhurst, NY. The organization was established in 1980. As of 06/2022, Institute Of Chung Hwa Buddhist Culture Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute Of Chung Hwa Buddhist Culture Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Institute Of Chung Hwa Buddhist Culture Inc generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $350.8k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RELIGIOUS INSTITUTION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE PROVIDED MEDITATION RETREATS, BUDDHIST PHILOSOPHY CLASSES, PERSONAL GUIDANCE AND COUNCILING TO NUMEROUS INDIVIDUALS ALL OVER THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chang Hwa Fa Shi Director, Board Member | OfficerTrustee | 16 | $1,200 |
Chang Zhai Fa Shi Treasurer, Board Member | Trustee | 16 | $1,200 |
Guo Dong Fa Shi President, Board Member | OfficerTrustee | 2 | $0 |
Guo Xing Fa Shi Vice Pres., Board Member | OfficerTrustee | 2 | $0 |
Wen-Chiao Peng Secretary, Board Member | OfficerTrustee | 2 | $0 |
Harry Miller Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,720 |
| Fundraising events | $259,854 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,839,365 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,108,939 |
| Total Program Service Revenue | $0 |
| Investment income | $81,416 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,319 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,197,674 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,400 |
| Compensation of current officers, directors, key employees. | $2,400 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,900 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,844 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $6,466 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $110,557 |
| Travel | $1,562 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $121,702 |
| Insurance | $9,733 |
| All other expenses | $40,253 |
| Total functional expenses | $350,847 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,766 |
| Savings and temporary cash investments | $14,778,460 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,765,921 |
| Investments—publicly traded securities | $538,679 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,648 |
| Total assets | $23,134,474 |
| Accounts payable and accrued expenses | $9,500 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,500 |
| Net assets without donor restrictions | $23,124,974 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,134,474 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Institute Of Chung Hwa Buddhist Culture Inc has recieved totaling $1,075,660.
| Awarding Organization | Amount |
|---|---|
Alice & Jp Wang Foundation Huntington Beach, CA PURPOSE: CHARITABLE CONTRIBUTION | $500,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: RELIGIOUS | $500,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $48,440 |
Iris And Junming Le Foundationtrust Dated 3-10-06 Boca Raton, FL PURPOSE: RELIGIOUS | $27,220 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kripalu Center For Yoga & Health Inc Stockbridge, MA | $44,817,828 | $11,156,053 |
Maharishi Global Administration Through Natural Law Livingston Manor, NY | $8,402,338 | $2,950,305 |
Institute Of Chung Hwa Buddhist Culture Inc Elmhurst, NY | $23,134,474 | $2,197,674 |
Sirius Inc Shutesbury, MA | $596,409 | $260,108 |
Himalayan Institute Of Buffalo Inc Buffalo, NY | $286,632 | $190,026 |
Village Of Light Inc Amherst, MA | $0 | $332,454 |
Swami Kuvalayananda Yoga Foundation Philadelphia, PA | $487,475 | $0 |
Dharma Foundation Inc Barre, MA | $158,668 | $0 |
Agni Yoga Society Inc New York, NY | $44,315 | $0 |
Yoga Anand Ashram Inc Amityville, NY | $43,455 | $0 |