Sachen Foundation
- Assets
- $2.6m
- Revenue
- $95.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Golden Valley, MN
- Founding
- 05/1999
- Data as of
- 12/2023
- 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 12/2023, Sachen Foundation generated $95.9k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 33.1% each year . All expenses for the organization totaled $159.6k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT EDUCATION OF MONKS AND NUNS; DEVELOP BUDDHIST EDUCATION, AND PRESERVE THE SAKYA TRADITION
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 BUDDHIST TEACHINGS FROM THE SAKYA TRADITION THROUGH ARCHIVING, PUBLISHING, AND TRANSLATING TEACHINGS AND PRACTICE TEXTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hh Ratna Vajra Sakya Rinpoche Chair, Spiritual Teacher | OfficerTrustee | 4 | $0 |
Silvia Yueh President, Treasurer | OfficerTrustee | 12 | $0 |
Jay Goldberg Vice President | OfficerTrustee | 0.25 | $0 |
Judy MA Secretary | OfficerTrustee | 3 | $0 |
Connie Kassor Director | Trustee | 0.5 | $0 |
Donald William Giamporcaro Jamya Director | Trustee | 1 | $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 | $80,084 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $80,084 |
| Total Program Service Revenue | $0 |
| Investment income | $88,714 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$72,927 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $95,871 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,338 |
| Grants and other assistance to domestic individuals. | $16,608 |
| Grants and other assistance to Foreign Orgs/Individuals | $110,708 |
| 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 | $7,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,820 |
| Fees for services: Other | $845 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $160 |
| 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 | $159,605 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,973 |
| Savings and temporary cash investments | $85,650 |
| 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 | $3,662 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,442,611 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,561,896 |
| Accounts payable and accrued expenses | $5,764 |
| Grants payable | $26,044 |
| 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 | $31,808 |
| Net assets without donor restrictions | $2,530,088 |
| 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 | $2,561,896 |
Grants Awarded
Over the last fiscal year, Sachen Foundation has awarded $53,038 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
TSECHEN KUNCHAB LING PURPOSE: PUBLICATIONS AND ONLINE CATALOG OF DHARMA MATERIALS FOR CHILDREN. | $7,500 |
SAKYA SOCIETY PURPOSE: BUDDHIST RETREAT CENTER | $43,038 |
SAKYA TRADITION PURPOSE: ARCHIVING | $2,500 |