Korean American Buddhist Foundation Inc
- Assets
- $789.4k
- Revenue
- $125.8k
- Investments
- $440.1k
- Employees
- 0
- Location
- Alpine, NJ
- Founding
- 03/1999
- Data as of
- 12/2021
- EIN
- 22-3386949
Organization Overview
Korean American Buddhist Foundation Inc is located in Alpine, NJ. The organization was established in 1999. According to its NTEE Classification (X50) the organization is classified as: Buddhism, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Korean American Buddhist Foundation 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 12/2021, Korean American Buddhist Foundation Inc generated $125.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $118.2k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Korean American Buddhist Foundation Inc has awarded 114 individual grants totaling $523,900. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT FOR BUDDHIST FOUNDATIONS
SUPPORT FOR UNDERPRIVILEGED PEOPLE IN POOR LIVING CONDITIONS WHICH REPRESENTS BUDDHA'S MERCY
SETTING UP EDUCATIONAL PROGRAMS WHICH WILL INTRODUCE FOREIGN STUDENTS TO AMERICAN BUDDHISM
PROVIDING SCHOLARSHIP TO STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mina Hwang VP | 0 | $0 | |
Il Hwan Cho President | 0 | $0 | |
Soon Ja Cho Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $9,572 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $116,270 |
| Capital Gain Net Income | $116,270 |
| Net ST Capital Gain | $41,062 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $125,842 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $530 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $5,882 |
| Total operating and administrative expenses | $15,412 |
| Contributions, gifts, grants paid | $102,750 |
| Total expenses and disbursements | $118,162 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,678 |
| Savings and temporary cash investments | $286,553 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $789,378 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Korean American Buddhist Foundation Inc has awarded $102,750 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
WON KAK SA PURPOSE: CONTRIBUTION TO TEMPLE | $48,500 |
UCLA PURPOSE: CONTRIBUTION TO COLLEGE | $20,000 |
BORISA ZEN CENTER PURPOSE: CONTRIBUTION TO TEMPLE | $6,000 |
CENTER FOR FOOD ACTION PURPOSE: CONTRIBUTION TO GOOD CAUSE | $4,500 |
MIRAN CHUNG PURPOSE: SCHOLARSHIP FOR BUDDHISM STUDENT | $3,000 |
FEEDING AMERICA PURPOSE: CONTRIBUTION TO GOOD CAUSE | $2,800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Center Of Theological Inquiry Princeton, NJ | $23,024,334 | $1,080,518 |
Kak Hwang Zen Center Flushing, NY | $220,889 | $735,431 |
New York Insight Inc New York, NY | $427,976 | $611,449 |
Dharmakaya Center For Wellbeing Inc Pine Bush, NY | $182,124 | $584,750 |
Won Edification Center Ofpennsylvania Inc Glenside, PA | $5,565,953 | $442,842 |
Dharma Drum Retreat Center Inc Pine Bush, NY | $3,451,513 | $510,345 |
Mongkoltepmunee Buddist Temple Bensalem, PA | $6,198,387 | $527,741 |
Friends Of Dongyu Gatsal Ling Inc Woodbury, NY | $2,289,752 | $560,170 |
Dami Buddhism Association New Hyde Park, NY | $17,601,801 | $5,331,194 |
Danang Foundation Corp Jackson Heights, NY | $1,572,828 | $167,688 |
Khmer Buddhist Humanity Association Inc Philadelphia, PA | $5,074,682 | $1,080,927 |
Kunzang Gatshal Foundation Delhi, NY | $4,395,104 | $390,655 |