Lotus Foundation
- Assets
- $2.7m
- Revenue
- $383.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 04/1994
- Data as of
- 12/2023
- EIN
- 76-0352152
Organization Overview
Lotus Foundation is located in Houston, TX. The organization was established in 1994. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., 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. Lotus 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, Lotus Foundation generated $383.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $76.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lotus Foundation has awarded 32 individual grants totaling $778,467. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
BUILDING BUDDIST TEMPLE AND TEACHING OF BUDDISM, SUPPORT COMMUNITY CHARITY PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUILDING FUND DISTRIBUTION TO SEVERAL BUDDIST TEMPLE
ASSIATANCE TO MONKS DISPLINE LIFE SUPPORT
SUPPORT TO VAIOUS CHARITY ORGANIZATION
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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 | $22,821 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,821 |
| Total Program Service Revenue | $0 |
| Investment income | $48,073 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $310,071 |
| Net Gain/Loss on Asset Sales | $2,427 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $383,392 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $48,942 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $403 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,596 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $8,834 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $76,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,211 |
| Savings and temporary cash investments | $495,163 |
| 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 | $260,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $103,819 |
| Investments—publicly traded securities | $1,445,189 |
| Investments—other securities | $0 |
| Investments—program-related | $606,331 |
| Intangible assets | $0 |
| Other assets | -$209,040 |
| Total assets | $2,713,673 |
| Accounts payable and accrued expenses | $1,050 |
| 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 | $1,050 |
| Net assets without donor restrictions | $507,374 |
| Net assets with donor restrictions | $2,205,249 |
| 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 | $2,713,673 |
Grants Awarded
Over the last fiscal year, Lotus Foundation has awarded $48,942 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
TRUE BUDDHA SOCIETY OF HOUSTON | | | $13,962 |
FAPA | | | $500 |
STUF UNITED FUND | | | $32,500 |
LING SHEN CHING TZE TEMPLE | | | $1,120 |
MISC OTHERGANIZATION | | | $860 |