Seattle Meditation Center
- Assets
- $2.5m
- Revenue
- $818.1k
- Investments
- $0.0
- Employees
- 9
- Location
- Mountlake Terrance, WA
- Founding
- 07/2003
- Data as of
- 12/2022
- EIN
- 47-0901378
Organization Overview
Seattle Meditation Center is located in Mountlake Terrance, WA. The organization was established in 2003. According to its NTEE Classification (X50) the organization is classified as: Buddhism, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Seattle Meditation Center employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seattle Meditation Center 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 12/2022, Seattle Meditation Center generated $818.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $745.9k during the year ending 12/2022. While expenses have increased by 9.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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 ORGANIZATION THAT EDUCATES THE GENERAL PUBLIC ABOUT MEDITATION AND BUDDHISM AND PROVIDES BUDDHIST PRACTICES, SPACE, CHARITABLE CONTRIBUTIONS AND SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO EDUCATE THE GENERAL PUBLIC ABOUT MEDITATION AND BUDDHISM AND TO PROVIDE A WORSHIP PLACE FOR FOLLOWERS TO GATHER TO PRACTICE AND TRAIN FOR EVENTUAL PURE SELF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daraniratana Lovichakorntikul Treasurer | Officer | 2 | $0 |
Polwat Nakalax Director | Officer | 2 | $0 |
Phra Wairot Treenet President | Officer | 2 | $0 |
Pharamaha Wirat Saeheng Secretary | Officer | 2 | $0 |
Phramaha Somboon Jongpatra Vice President | Officer | 2 | $0 |
Apsornsuda Kiatsilp Officer | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $813,979 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $813,979 |
| Total Program Service Revenue | $0 |
| Investment income | $4,158 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $818,137 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $80,195 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $312,984 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,294 |
| Payroll taxes | $31,614 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,390 |
| Fees for services: Accounting | $4,606 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $261 |
| Advertising and promotion | $85 |
| Office expenses | $3,104 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,831 |
| Travel | $26,979 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,722 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $70,931 |
| Insurance | $5,706 |
| All other expenses | $1,944 |
| Total functional expenses | $745,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $240,017 |
| Savings and temporary cash investments | $803,759 |
| 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 | $1,390,358 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,328 |
| Total assets | $2,472,462 |
| Accounts payable and accrued expenses | $0 |
| 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 | $154,844 |
| Total liabilities | $154,844 |
| Net assets without donor restrictions | $0 |
| 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 | $51,430 |
| Retained earnings, endowment, accumulated income, or other funds | $2,266,188 |
| Total liabilities and net assets/fund balances | $2,472,462 |