Namchak Foundation
- Assets
- $7.2m
- Revenue
- $557.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 07/2010
- Data as of
- 12/2023
- EIN
- 26-4712157
Organization Overview
Namchak Foundation is located in Houston, TX. The organization was established in 2010. 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. Namchak Foundation 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 12/2023, Namchak Foundation generated $557.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $2.9m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NAMCHAK FOUNDATION OFFERS LEARNING OPPORTUNITIES IN TIBETAN BUDDHIST PRACTICE FOR STUDENTS AT EVERY LEVEL, FROM BEGINNERS TO EXPERIENCED PRACTITIONERS. THE FOUNDATION'S PROGRAMMING INCLUDES NUMEROUS ONLINE COURSES, COMMUNITY BASED LEARNING CIRCLES, LIVESTREAM TEACHINGS, AND RETREATS. THE FOUNDATION EMPLOYS TEN INDIVIDUALS TO CARRY OUT ITS E&O PROGRAM AND IS SUPPORTED BY THE VOLUNTEER WORK OF THE LINEAGE'S LAMAS, INCLUDING LINDA PRITZKER (LAMA TSOMO), TENZIN NAMCHAK (RINPOCHE), AND OTHER TIBETAN LAMAS, WHO TEACH BOTH ONLINE AND IN PERSON. THE FOUNDATION HOSTED 30 ONE TIME EVENTS IN 2023 THAT ATTRACTED APPROXIMATELY 1,551 PARTICIPANTS. REOCURRING PROGRAMS AND COURSES WERE ATTENDED BY APPROXIMATELY 156 PARTICIPANTS.
THE NAMCHAK FOUNDATION SUPPORTS THE CREATION AND DISTRIBUTION OF THE SACRED TEXTS AND OTHER PUBLISHED MATERIALS, CDS AND OTHER OBJECTS USED IN THE STUDY AND/OR PRACTICE OF THE NAMCHAK LINEAGE. THROUGH ITS FIVE TRANSLATOR EMPLOYEES, THE FOUNDATION PRODUCES TRANSLATIONS OF THE LINEAGE'S SACRED TEXT FROM TIBETAN INTO ENGLISH CHANTABLE VERSE, TRANSLATIONS OF RELATED COMMENTARIES, AND BIOGRAPHIES OF LINEAGE GURUS. IN 2023, THE TEAM PRODUCED AND COMPLETED FIVE BOOKS; 10 BOOKS WERE STILL IN PROGRESS AS OF THE END OF THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Pritzker President | 40 | $0 | |
Dr Tashi Choeji Lodoe Director | 25 | $0 | |
Mary Jo Sandlin Director | 25 | $0 | |
Alice Bailey Secretary/treasurer | 1.5 | $0 | |
Lincoln D Wachtel Managing Director | 40 | $256,548 | |
Jessica Crowley Larson Director Of Educatio | 35 | $155,885 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Joshua Gorman | 12/30/22 | $125,400 |
Academy For Love Of Learning | 12/30/22 | $65,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $4,188 |
| Interest on Savings | $118 |
| Dividends & Interest | $381,403 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $172,217 |
| Total Revenue | $557,926 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $2,066,693 |
| Pension plans, employee benefits | $91,247 |
| Interest | $0 |
| Taxes | $1,788 |
| Depreciation | $5,422 |
| Occupancy | $39,384 |
| Travel, conferences, and meetings | $86,203 |
| Printing and publications | $2,952 |
| Other expenses | $189,940 |
| Total operating and administrative expenses | $2,860,409 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,860,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,909 |
| Savings and temporary cash investments | $7,144,143 |
| 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 | $2,000 |
| Inventories for sale or use | $3,179 |
| Prepaid expenses and deferred charges | $1,998 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $22,588 |
| Other assets | $22,958 |
| Total assets | $7,207,775 |
| Accounts payable and accrued expenses | $43,807 |
| 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 | $43,807 |