Sachen Foundation
- Assets
- $2.7m
- Revenue
- $220.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Golden Valley, MN
- Founding
- 05/1999
- Data as of
- 12/2021
- EIN
- 91-1925472
Organization Overview
Sachen Foundation is located in Golden Valley, MN. The organization was established in 1999. 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. Sachen 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 12/2021, Sachen Foundation generated $220.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 56.2% each year . All expenses for the organization totaled $762.3k 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
SACHEN FOUNDATION WAS ESTABLISHED TO SUPPORT THE EDUCATION OF MONKS AND NUNS; DEVELOP BUDDHIST EDUCATION AND CURRICULUM FOR CHILDREN AND LAY PRACTITIONERS, AND PRESERVE THE SAKYA TRADITION THROUGH TEXT PUBLICATIONS AND DISTRIBUTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SACHEN FOUNDATION WAS ESTABLISHED TO SUPPORT THE EDUCATION OF MONKS AND NUNS; DEVELOP BUDDHIST EDUCATION AND CURRICULUM FOR CHILDREN AND LAY PRACTITIONERS, AND PRESERVE THE SAKYA TRADITION THROUGH TEXT PUBLICATIONS AND DISTRIBUTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
He Sakya Jetsun Chimey Luding Spiritual Teacher | OfficerTrustee | 1 | $0 |
Silvia Yueh President, Treasurer | OfficerTrustee | 15 | $0 |
Hh Ratna Vajra Sakya Rinpoche Chair, Spiritual Teacher | OfficerTrustee | 4 | $0 |
Jay Goldberg Vice President | OfficerTrustee | 1 | $0 |
Anne Mccorkle Moore Secretary(retired 12/31/21) | OfficerTrustee | 3 | $0 |
Kai-Hsiang Lin Ngawang Jungney Board Member(resigned 11/13/21) | Trustee | 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 | $78,263 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $78,263 |
| Total Program Service Revenue | $0 |
| Investment income | $50,732 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $91,452 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $220,447 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $644,791 |
| Grants and other assistance to domestic individuals. | $10,272 |
| Grants and other assistance to Foreign Orgs/Individuals | $71,498 |
| 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 | $800 |
| Fees for services: Accounting | $7,494 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,003 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,850 |
| Information technology | $10,944 |
| 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 | $0 |
| Insurance | $1,804 |
| All other expenses | $0 |
| Total functional expenses | $762,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $104,761 |
| Savings and temporary cash investments | $132,405 |
| 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 | $4,813 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,502,232 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,744,211 |
| Accounts payable and accrued expenses | $6,164 |
| 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 | $6,164 |
| Net assets without donor restrictions | $2,738,047 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,744,211 |
Grants Awarded
Over the last fiscal year, Sachen Foundation has awarded $106,076 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Friday Harbor, WA PURPOSE: BUDDHIST RETREAT CENTER | $43,038 |
Friday Harbor, WA PURPOSE: BUDDHIST RETREAT CENTER | $43,038 |
Walden, NY PURPOSE: PUBLICATIONS AND ONLINE CATALOG OF DHARMA MATERIALS FOR CHILDREN. | $7,500 |
Walden, NY PURPOSE: PUBLICATIONS AND ONLINE CATALOG OF DHARMA MATERIALS FOR CHILDREN. | $7,500 |
Cambridge, MA PURPOSE: ARCHIVING | $2,500 |
Cambridge, MA PURPOSE: ARCHIVING | $2,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sachen Foundation has recieved totaling $16,200.
| Awarding Organization | Amount |
|---|---|
Bny Mellon Charitable Gift Fund Boston, MA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $16,200 |
Endowment Analysis
| Beg. Balance | $650,058 |
| Earnings | $33 |
| Grants | $650,091 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sachen Foundation Golden Valley, MN | $2,744,211 | $220,447 |
Niem Phat Buddhist Temple - Chua Niem Phat Saint Paul, MN | $0 | $0 |
Institute For Zen Leadership Madison, WI | $92,245 | $155,271 |
Vietnamese Buddhist Association Roseville, MN | $2,409,562 | $275,237 |
Kevala Retreat Norwalk, WI | $658,089 | $145,953 |
Davenport Buddhist Association Kim Cang Temple Davenport, IA | $157,887 | $135,630 |
Tu Vien Giac Hai Hastings, MN | $579,874 | $277,854 |
Korinji Foundation Reedsburg, WI | $589,889 | $124,258 |
Buddha Haksa Corporation Waukesha, WI | $2,319,463 | $570,128 |
Jalu Foundation Inc Soldiers Grove, WI | $1,430,822 | $1,514,375 |
Hong Duc Sakya Monastery Des Moines, IA | $60,250 | $0 |
Yeru Bon Center Minneapolis, MN | $14,584 | $0 |