Form 990 for tax year 2023

Filed by BUDDHIST CHURCHES OF AMERICA-ENDOW.

Totals

Total revenue: $3,797,489
Total expenses: $2,033,275
Contributions and grants received: $1,813,059
Grants paid: $1,363,882
Program service revenue: $0
Investment income: $1,882,493
Other revenue: $101,937
Total assets, end of year: $44,335,763
Total liabilities, end of year: $21,776,204
Net assets or fund balances, end of year: $22,559,559
Program services expenses (Part IX): $1,363,882
Management and general expenses: $481,150
Fundraising expenses: $188,243
Program service expenses (Part III): $1,363,882

Program services were 67.1% 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.

1f · All other contributions, gifts and grants

$1,813,059
1g · Noncash contributions included above

$15,542
3 · Investment income

total $948,036 · excluded $948,036
4 · Income from investment of tax-exempt bond proceeds

total $63,287 · excluded $63,287
7a · Gross sales of assets other than inventory

securities $1,477,233
7b · Less cost or other basis and sales expenses

securities $606,063
7c · Gain or loss

securities $871,170
7d · Net gain or loss

total $871,170 · excluded $871,170
11a · Other revenue: CUSTODIAL MANAGEMENT FEE

total $101,937 · excluded $101,937
11e · Other revenue, total

$101,937

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $1,363,882 · program services $1,363,882
5 · Compensation of officers, directors and key employees

total $181,423 · management and general $84,135 · fundraising $97,288
7 · Other salaries and wages

total $131,275 · management and general $61,547 · fundraising $69,728
8 · Pension plan contributions

total $2,687 · management and general $1,260 · fundraising $1,427
9 · Other employee benefits

total $1,208 · management and general $424 · fundraising $784
10 · Payroll taxes

total $20,431 · management and general $9,579 · fundraising $10,852
11b · Fees: legal

total $855 · management and general $855
11c · Fees: accounting

total $69,619 · management and general $69,619
11f · Fees: investment management

total $214,126 · management and general $214,126
11g · Fees: other

total $8,470 · management and general $8,470
13 · Office expenses

total $19,650 · management and general $11,486 · fundraising $8,164
16 · Occupancy

total $9,468 · management and general $9,468
17 · Travel

total $7,781 · management and general $7,781
23 · Insurance

total $2,380 · management and general $2,380
24a · Other expenses: BANK FEES

total $20 · management and general $20

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $40,145 · end of year $11,264
2 · Savings and temporary cash investments

beginning of year $318,341 · end of year $377,163
3 · Pledges and grants receivable

beginning of year $289,144 · end of year $201,309
7 · Other notes and loans receivable

beginning of year $3,188,363 · end of year $3,102,295
11 · Investments: publicly traded securities

beginning of year $13,478,485 · end of year $18,717,298
12 · Investments: other securities

beginning of year $22,157,264 · end of year $21,924,034
13 · Investments: program-related

beginning of year $2,400 · end of year $2,400
17 · Accounts payable and accrued expenses

beginning of year $14,433 · end of year $13,479
25 · Other liabilities

beginning of year $19,916,251 · end of year $21,762,725
27 · Net assets without donor restrictions

beginning of year $3,546,629 · end of year $4,246,679
28 · Net assets with donor restrictions

beginning of year $15,996,829 · end of year $18,312,880

Mission and programs · 2023

Mission

THE PURPOSE OF THIS CORPORATION IS TO SECURE A SOUND FINANCIAL BASE FOR THE PROPAGATION OF JODO SHINSHU HONGWANJI-HA BUDDHISM IN AMERICA.

SUPPORT OF BUDDHIST CHURCHES OF AMERICA FOR PROPAGATION OF SHIN BUDDHISM IN AMERICA.

Expenses $711,415 · Grants $711,415
SUPPORT OF INSTITUTE OF BUDDHIST STUDIES FOR PROPAGATION OF SHIN BUDDHISM IN AMERICA.

Expenses $652,467 · Grants $652,467

As filed on the 2023 return.

Listed in Part VII

Charles OzakiCHARLES OZAKI

PRESIDENT

Total calculated

$0

Hours/week

0.5
Steven TerusakiSTEVEN TERUSAKI

VICE PRESIDENT

Total calculated

$0

Hours/week

0.5
Sam SunadaSAM SUNADA

TREASURER

Total calculated

$0

Hours/week

0.5
Roger SuekamaROGER SUEKAMA

SECRETARY

Total calculated

$0

Hours/week

0.3
Charlene GrinoldsCHARLENE GRINOLDS

DIRECTOR

Total calculated

$0

Hours/week

0.3
Gary KitahataGARY KITAHATA

DIRECTOR

Total calculated

$0

Hours/week

0.3
Dr Kent MatsudaDR KENT MATSUDA

DIRECTOR

Total calculated

$0

Hours/week

0.3
Tom NishikawaTOM NISHIKAWA

DIRECTOR

Total calculated

$0

Hours/week

0.3
Steve OkamotoSTEVE OKAMOTO

DIRECTOR

Total calculated

$0

Hours/week

0.3
Rev Rinban Gerald SakamotoREV RINBAN GERALD SAKAMOTO

DIRECTOR

Total calculated

$0

Hours/week

0.3
Koichi SayanoKOICHI SAYANO

DIRECTOR

Total calculated

$0

Hours/week

0.3
Ken TanimotoKEN TANIMOTO

DIRECTOR

Total calculated

$0

Hours/week

0.3
Gary TanimuraGARY TANIMURA

DIRECTOR

Total calculated

$0

Hours/week

0.3
Richard UyematsuRICHARD UYEMATSU

DIRECTOR

Total calculated

$0

Hours/week

0.3
Hideaki MizunoHIDEAKI MIZUNO

EXECUTIVE DIRECTOR

Total calculated

$181,423

From this org

$121,945

From related orgs

$0

Other

$59,478

Hours/week

40

Schedule J breakdown matched by us

Base

$121,945

Bonus

$0

Other

$0

Deferred

$17,267

Nontaxable benefits

$42,211

Filer's total

$181,423

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

BUDDHIST CHURCHES OF AMERICA

$711,415

PROPAGATION OF SHIN BUDDHISM
INSTITUE OF BUDDHIST STUDIES

$652,467

PROPAGATION OF SHIN BUDDHISM

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

BUDDHIST CHURCHES OF AMERICA

501(C)(3) · PROPAGATION OF SHIN BUDDHISM · CA

Provenance

Return type: form_990
Tax year: 2023
Filed: 14 November 2024
IRS schema version: 2023v5.1
Source object: 202423199349318817

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