Happy Monastery Inc
- Assets
- $287.9k
- Revenue
- $369.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Sarasota, FL
- Founding
- 04/2019
- Data as of
- 12/2020
- EIN
- 83-3909737
Organization Overview
Happy Monastery Inc is located in Sarasota, FL. The organization was established in 2019. 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. Happy Monastery 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 12/2020, Happy Monastery Inc generated $369.1k in total revenue. All expenses for the organization totaled $126.2k during the year ending 12/2020. While expenses have increased by 45.7% per year over the past 2 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
RELIGIOUS VIETNAMESE TEMPLE
Describe the Organization's Program Activity:
Part 3 - Line 4a
SHARING BUDDHIST TEACHINGS AND PRACTICE UTILIZING IN PERSON AND SOCIAL MEDIA, INCLUDING FACEBOOK AND YOUTUBE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rin Cong Nguyen President | OfficerTrustee | 40 | $20,788 |
Ha Thanh Nguyen Secretary | OfficerTrustee | 5 | $0 |
Cuong Nguyen Treasurer | OfficerTrustee | 5 | $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 | $353,755 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $353,755 |
| Total Program Service Revenue | $14,889 |
| Investment income | $0 |
| 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 | $369,132 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,000 |
| 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. | $20,788 |
| Compensation of current officers, directors, key employees. | $4,158 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,462 |
| Advertising and promotion | $350 |
| Office expenses | $426 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,711 |
| Travel | $1,052 |
| 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 | $385 |
| Insurance | $6,386 |
| All other expenses | $599 |
| Total functional expenses | $126,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $226,248 |
| 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 | $46,615 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,000 |
| Total assets | $287,863 |
| 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 | $31,863 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $31,863 |
| 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 | $256,000 |
| Total liabilities and net assets/fund balances | $287,863 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Happy Monastery Inc has recieved totaling $12,968.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $12,968 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wat Mongkolratanaram Of Fl Thai Buddhist Temple Interbay Area Fl Tampa, FL | $3,597,133 | $569,861 |
Florida Mediation Center Inc Plant City, FL | $2,757,164 | $497,078 |
Tu Vien Truc Lam Buddhist Central Inc Riverdale, GA | $1,941,563 | $418,470 |
Phap Vu Buddhist Cultural Centre Of Florida Inc Orlando, FL | $3,947,347 | $593,365 |
Sangha Bhiksu Buddhist Association Lawrenceville, GA | $1,683,037 | $360,966 |
Georgia Meditation Center Inc Atlanta, GA | $2,923,465 | $320,641 |
Vietnamese - American Buddhist Association Niem Xu Thien Vien Inc Leesburg, FL | $6,260,827 | $2,030,172 |
Wat Florida Dhammaram Inc Kissimmee, FL | $3,368,032 | $440,215 |
Phuoc Hoa Buddhist Center Inc Fort Myers, FL | $2,231 | $0 |
Dieu Nhan Buddhist Monastery Cocoa, FL | $2,899 | $0 |
Alexander Foundation Formless Heartfellowship Inc Miami, FL | $25,926 | $0 |
Vietnamese Buddhist Cultural Center Of Florida Inc Fort Lauderdale, FL | $0 | $0 |