Drepung Loseling Institute Of Texas
- Assets
- $1.9m
- Revenue
- $534.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Houston, TX
- Founding
- 08/2017
- Data as of
- 12/2021
- EIN
- 47-5145239
Organization Overview
Drepung Loseling Institute Of Texas is located in Houston, TX. The organization was established in 2017. According to its NTEE Classification (X50) the organization is classified as: Buddhism, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Drepung Loseling Institute Of Texas employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Drepung Loseling Institute Of Texas 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, Drepung Loseling Institute Of Texas generated $534.8k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $304.7k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DREPUNG LOSELING IS DEDICATED TO STUDY AND PRESERVE THE TIBETAN BUDDHIST TRADITION BY PROVIDING THEORETICAL KNOWLEDGE AND PRACTICAL TRAINING IN TIBETAN BUDDHIST SCHOLARLY TRADITIONS AND HELP PRESERVE TIBETAN CULTURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRAYER SERVICES; DAILY PRACTICES: AMITABHA BUDDHA, DROP IN MEDITATION; WEEKLY PRACTICES: GREEN TARA, MEDICINE BUDDHA, VAJRASATTVA; PRAYER CEREMONIES; PROJECTOR MAHAKALA JANG-WA PUJA; CHA-SUM CAKE OFFERING RITUAL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tsering Phutsok Director | OfficerTrustee | 40 | $23,077 |
Gala Tulku Rinpoche Director | OfficerTrustee | 40 | $23,077 |
Musa Tulku Fnu Director | Trustee | 20 | $9,000 |
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 | $534,790 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $534,790 |
| Total Program Service Revenue | $0 |
| Investment income | $6 |
| 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 | $534,796 |
| 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. | $55,154 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,923 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $54 |
| Office expenses | $30,754 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,483 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $38 |
| Payments to affiliates | $181,516 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,309 |
| All other expenses | $0 |
| Total functional expenses | $304,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $317,152 |
| Savings and temporary cash investments | $0 |
| 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 | $1,563,415 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,880,567 |
| Accounts payable and accrued expenses | $5,066 |
| 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 | $50,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $59,900 |
| Other liabilities | $0 |
| Total liabilities | $114,966 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,341,830 |
| Total liabilities and net assets/fund balances | $1,880,567 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Drepung Loseling Institute Of Texas has recieved totaling $46,958.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $46,946 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $12 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Usa Falun Dafa Association Houston, TX | $3,622,112 | $4,922,503 |
Namchak Foundation Houston, TX | $11,458,517 | $3,340,423 |
Phap Bao Buddhist Temple Mission, TX | $296,799 | $340,704 |
Vien Thong Pagoda Houston, TX | $7,824,383 | $1,069,111 |
Vietnamese Sangha Congregation In America Phuoc Minh Monastery Duson, LA | $909,992 | $513,098 |
Universal Door Meditation Center Sugar Land, TX | $8,646,375 | $1,638,678 |
Watpa Buddhayan Mediation Center Inc Sugar Land, TX | $0 | $800,742 |
Vietnamese Buddhist Center Inc Sugar Land, TX | $7,043,362 | $1,772,604 |
Kalachakra Buddha Association Farmersville, TX | $4,404,690 | $783,296 |
Phuoc Duc Buddhist Cultural Center Inc Houston, TX | $30,610 | $403,197 |
Meditation Center Of Texas Arlington, TX | $1,088,937 | $336,240 |
Drepung Loseling Institute Of Texas Houston, TX | $1,880,567 | $534,796 |