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Nonprofiteer
← EPOCH TIMES ASSOCIATION INC

Form 990 for tax year 2023

Filed by EPOCH TIMES ASSOCIATION INC.

Totals

Total revenue
$122,102,193
Total expenses
$121,893,373
Contributions and grants received
$2,193,027
Grants paid
$14,390,000
Program service revenue
$111,775,558
Investment income
$1,195,590
Other revenue
$6,938,018
Total assets, end of year
$54,103,794
Total liabilities, end of year
$41,106,097
Net assets or fund balances, end of year
$12,997,697
Program services expenses (Part IX)
$109,545,844
Management and general expenses
$11,146,690
Fundraising expenses
$1,200,838
Program service expenses (Part III)
$109,545,844

Program services were 89.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $330,000

  • 1f · All other contributions, gifts and grants

    $1,863,027

  • 2a · Program service revenue: Digital/App Subscription

    total $55,438,966 · related or exempt $55,438,966

  • 2b · Program service revenue: Print Subscription

    total $56,336,592 · related or exempt $56,336,592

  • 3 · Investment income

    total $1,210,984 · related or exempt $1,210,984

  • 7a · Gross sales of assets other than inventory

    securities $103,367

  • 7b · Less cost or other basis and sales expenses

    securities $41,936 · other assets $76,825

  • 7c · Gain or loss

    securities $61,431 · other assets -$76,825

  • 7d · Net gain or loss

    total -$15,394 · related or exempt -$15,394

  • 8a · Fundraising events: gross income

    $330,000

  • 8a · Fundraising events: contributions included on line 1c

    $330,000

  • 8b · Fundraising events: direct expenses

    $246,035

  • 8c · Net income from fundraising events

    total $83,965

  • 11a · Other revenue: IRS 941 tax refund

    total $1,812,432 · related or exempt $1,812,432

  • 11b · Other revenue: Credit card cash back

    total $307,702 · related or exempt $307,702

  • 11c · Other revenue: Advertising Income

    total $4,733,919 · unrelated business $4,733,919

  • 11e · Other revenue, total

    $6,854,053

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $14,390,000 · program services $14,390,000

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $114,461 · program services $91,569 · management and general $22,892

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $4,067,856 · program services $3,254,284 · management and general $813,571

  • 8 · Pension plan contributions

    total $51,487 · program services $42,847 · management and general $8,640

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $352,411 · program services $281,929 · management and general $70,482

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $823,847 · program services $659,078 · management and general $164,769

  • 11c · Fees: accounting

    total $95,106 · program services $76,085 · management and general $19,021

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $1,200,838 · fundraising $1,200,838

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $15,636,254 · program services $12,509,003 · management and general $3,127,251

  • 12 · Advertising and promotion

    total $12,964,364 · program services $10,371,491 · management and general $2,592,873

  • 13 · Office expenses

    total $6,943,202 · program services $5,554,562 · management and general $1,388,640

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $227,681 · program services $182,145 · management and general $45,536

  • 16 · Occupancy

    total $3,775,906 · program services $3,020,725 · management and general $755,181

  • 17 · Travel

    total $1,055,068 · program services $844,054 · management and general $211,014

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $209,521 · program services $167,617 · management and general $41,904

  • 23 · Insurance

    total $156,326 · program services $125,061 · management and general $31,265

  • 24a · Other expenses: Mailing cost

    total $19,981,810 · program services $19,981,810

  • 24b · Other expenses: Printing cost

    total $10,037,088 · program services $10,037,088

  • 24c · Other expenses: Epoch TV Production Cost

    total $14,991,891 · program services $14,991,891

  • 24d · Other expenses: Reporting and editing

    total $5,550,000 · program services $5,550,000

  • 24e · All other expenses

    total $9,268,256 · program services $7,414,605 · management and general $1,853,651

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,240,482 · end of year $3,530,284

  • 2 · Savings and temporary cash investments

    beginning of year $10,817,564 · end of year $411,351

  • 4 · Accounts receivable

    beginning of year $2,383,850 · end of year $1,800,707

  • 7 · Other notes and loans receivable

    beginning of year $9,500,750 · end of year $40,788,536

  • 10a · Land, buildings and equipment: cost or other basis

    $1,855,473

  • 10b · Land, buildings and equipment: accumulated depreciation

    $791,671

  • 10c · Land, buildings and equipment, net

    beginning of year $1,470,879 · end of year $1,057,802

  • 15 · Other assets

    beginning of year $5,333,991 · end of year $6,515,114

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,026,093 · end of year $2,849,280

  • 19 · Deferred revenue

    beginning of year $30,860,000 · end of year $30,745,195

  • 24 · Unsecured notes and loans payable

    beginning of year $2,342,519 · end of year $1,500,000

  • 25 · Other liabilities

    end of year $6,011,622

  • 27 · Net assets without donor restrictions

    beginning of year $518,904 · end of year $12,997,697

Mission and programs · 2023

Mission

DELIVERS TRUSTED, INDEPENDENT JOURNALISM TO INFORM AND UPLIFT SOCIETY, AND SUPPORTS PROGRAMS THAT PROMOTE EDUCATION, CULTURE, AND COMMUNITY WELL-BEING.

Activities or mission (Part I)

The Epoch Times Association, Inc. was formed to inform and educate the public on issues of national and civic importance through the production and dissemination of high-quality media and informational content, see Sch.O

  • The Epoch Times Association, Inc. produces The Epoch Times, an independent, nonpartisan newspaper published in print and digital formats. The Epoch Times informs the public on issues of civic importance at the national, state, and local levels, including but not limited to matters relating to public health, government transparency, education, culture, and human rights, and produces thousands of news articles, investigative reports, and video programs each year, reaching millions of readers and viewers globally.

    Expenses $109,545,844 · Revenue $122,018,228

  • The Epoch Times Association, Inc.s grantmaking program distributes grant funds on a case-by-case basis to nonprofit organizations that advance the Epoch Times Association, Inc.s mission of fostering truth and tradition, particularly in the areas of media freedom, education, cultural programming, and community engagement, as part of the organizations broader goal of fostering a more informed and empowered public.

    Grants $14,390,000

As filed on the 2023 return.

Listed in Part VII

  • Weidong Guan

    CFO

    Total calculated
    $81,923
    From this org
    $0
    From related orgs
    $81,923
    Other
    $0
    Hours/week
    20 + 20 related

  • Xueke Wang

    Secretary

    Total calculated
    $61,385
    From this org
    $61,385
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Zhong Tang

    President

    Total calculated
    $57,692
    From this org
    $0
    From related orgs
    $57,692
    Other
    $0
    Hours/week
    20 + 20 related

  • Dan Cheng

    Director

    Total calculated
    $53,077
    From this org
    $53,077
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Dr Damon Noto

    Director

    Total calculated
    $0
    Hours/week
    10

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Epoch Group Inc

    C Corp · Media · NY · 100% owned · share of income $14,413,625 · share of assets $3,908,593 · controlled entity

  • Epoch USA INC

    C Corp · Media · GA · 100% owned · share of assets $229,400 · controlled entity

  • Youmaker Corporation

    C Corp · Media · NJ · 100% owned · share of income $18,387 · share of assets $36,432 · controlled entity

  • World Fortunes Inc

    C Corp · Retail Trade · NY · 100% owned · share of income $728,360 · share of assets $1,220,231 · controlled entity

  • Pyunkang US LLC

    C Corp · Retail Trade · NJ · 100% owned · share of income $1,733,169 · share of assets $1,365,804 · controlled entity

  • Perpetual Market Inc

    C Corp · Digital Marketing · NY · 100% owned · share of income -$28,952 · share of assets $428,118 · controlled entity

  • Golden Basin Inc

    C Corp · Digital Marketing · NY · 100% owned · share of income $603,196 · share of assets $1,134,446 · controlled entity

  • Bestgiftcom Inc

    C Corp · Digital Marketing · NY · 100% owned · share of income $202,311 · share of assets $842,232 · controlled entity

  • Grand Century Media Inc

    C Corp · Digital Marketing · NY · 100% owned · share of income $10,911 · share of assets $53,800 · controlled entity

  • Taste Show Inc

    C Corp · Digital Marketing · NY · 100% owned · share of income $132,999 · share of assets $444,616 · controlled entity

  • Atlantic Studios Inc

    C Corp · Film Production · NY · 100% owned · share of income $1,328 · share of assets $53,821 · controlled entity

  • New Tang Inc

    C Corp · Holding company · NY · 100% owned · share of assets $2,956,932 · controlled entity

  • Legendary Creation Films Inc

    C Corp · Film production · NY · 100% owned · share of assets $49,950 · controlled entity

  • Xin Shi Ji Corporation

    C Corp · Special Events · NY · 100% owned · share of income $1,708,384 · share of assets $2,333,918 · controlled entity

  • Pacific Production studios Inc

    C Corp · Digital Marketing · NY · 100% owned · share of assets $10,870 · controlled entity

  • Market Fuel Inc

    C Corp · Advertising · NY · 100% owned · share of assets $8,655 · controlled entity

  • Chronicle Media Inc

    C Corp · Digital Marketing · NY · 100% owned · share of income $110 · share of assets $10,028 · controlled entity

  • Tradition Media Inc

    C Corp · Digital Marketing · NY · 100% owned · share of assets $18,439 · controlled entity

  • New Deerpark Inc

    C Corp · Real Estate · NY · 100% owned · share of assets $779,785 · controlled entity

  • Atlantic Times Inc

    C Corp · Digital Marketing · NY · 100% owned · share of assets $1,073 · controlled entity

  • World Travel Groups Inc

    C Corp · Travel Services · NY · 100% owned · share of income $636 · share of assets $1,975 · controlled entity

  • Data Managing Corporation

    C Corp · Digital Marketing · NY · 100% owned · share of assets $3,671,417 · controlled entity

  • Elite Magazine Inc

    C Corp · Publishing · NY · 100% owned · share of income $95,290 · share of assets $140,539 · controlled entity

  • Deerpark Revival Inc

    C Corp · Real Estate · NY · 100% owned · controlled entity

  • ClearMail Inc

    C Corp · Email Service · NY · 100% owned · share of income $6,740 · share of assets $21,165 · controlled entity

  • Country Home Ville Inc

    C Corp · Real Estate · NY · 100% owned · share of assets $433,875 · controlled entity

  • Sweet Home Field Inc

    C Corp · Real Estate · NY · 100% owned · share of assets $393,783 · controlled entity

  • 818 Prospect Hill Development Inc

    C Corp · Real Estate · NY · 100% owned · share of assets $1,581,392 · controlled entity

  • ShenXun Inc

    C Corp · Communication · NY · 100% owned · share of assets $9,272 · controlled entity

  • Pacific Times Inc

    C Corp · Digital Marketing · NY · 100% owned · share of income $8 · share of assets $11,009 · controlled entity

  • Epoch Times Inc

    C Corp · Publishing · NY · 100% owned · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
22 April 2024
IRS schema version
2023v6.0
Source object
202511149349301626

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