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← THE INSTITUTE OF BUDDHIST STUDIES INC

Form 990 for tax year 2023

Filed by THE INSTITUTE OF BUDDHIST STUDIES INC.

Totals

Total revenue
$2,221,666
Total expenses
$2,501,338
Contributions and grants received
$1,630,260
Grants paid
$289,680
Program service revenue
$446,483
Investment income
$144,351
Other revenue
$572
Total assets, end of year
$9,217,344
Total liabilities, end of year
$503,175
Net assets or fund balances, end of year
$8,714,169
Program services expenses (Part IX)
$1,573,639
Management and general expenses
$809,636
Fundraising expenses
$118,063
Program service expenses (Part III)
$1,573,639

Program services were 62.9% 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.

  • 1f · All other contributions, gifts and grants

    $1,630,260

  • 1g · Noncash contributions included above

    $11,802

  • 2a · Program service revenue: GRADUATE PROGRAMS

    total $444,183 · related or exempt $444,183

  • 2b · Program service revenue: DORMITORY RENTS

    total $2,300 · related or exempt $2,300

  • 3 · Investment income

    total $113,633 · excluded $113,633

  • 5 · Royalties

    total $572 · excluded $572

  • 7a · Gross sales of assets other than inventory

    securities $1,126,505

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

    securities $1,095,787

  • 7c · Gain or loss

    securities $30,718

  • 7d · Net gain or loss

    total $30,718 · excluded $30,718

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $289,680 · program services $289,680

  • 5 · Compensation of officers, directors and key employees

    total $568,262 · program services $182,614 · management and general $335,806 · fundraising $49,842

  • 7 · Other salaries and wages

    total $776,502 · program services $597,678 · management and general $137,384 · fundraising $41,440

  • 9 · Other employee benefits

    total $250,274 · program services $143,234 · management and general $101,862 · fundraising $5,178

  • 10 · Payroll taxes

    total $99,073 · program services $60,838 · management and general $34,191 · fundraising $4,044

  • 11b · Fees: legal

    total $5,197 · management and general $5,197

  • 11c · Fees: accounting

    total $60,835 · management and general $60,835

  • 11f · Fees: investment management

    total $50,279 · management and general $50,279

  • 11g · Fees: other

    total $26,488 · program services $1,300 · management and general $25,188

  • 12 · Advertising and promotion

    total $1,515 · program services $1,515

  • 13 · Office expenses

    total $25,032 · program services $4,229 · management and general $19,631 · fundraising $1,172

  • 16 · Occupancy

    total $105,068 · program services $71,165 · management and general $18,586 · fundraising $15,317

  • 17 · Travel

    total $8,891 · program services $8,164 · management and general $501 · fundraising $226

  • 20 · Interest

    total $2,259 · management and general $2,259

  • 22 · Depreciation, depletion and amortization

    total $5,894 · program services $5,189 · management and general $681 · fundraising $24

  • 23 · Insurance

    total $26,905 · program services $16,492 · management and general $9,645 · fundraising $768

  • 24a · Other expenses: AFFILIATION FEES

    total $92,775 · program services $92,775

  • 24b · Other expenses: REPAIRS & MAINT.

    total $30,417 · program services $30,417

  • 24c · Other expenses: PACIFIC WORLD PUB.

    total $25,025 · program services $25,025

  • 24d · Other expenses: INSTRUCTION EXPENSES

    total $20,305 · program services $20,211 · management and general $42 · fundraising $52

  • 24e · All other expenses

    total $30,662 · program services $23,113 · management and general $7,549

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $487,335 · end of year $341,669

  • 2 · Savings and temporary cash investments

    beginning of year $1,402,410 · end of year $1,376,006

  • 3 · Pledges and grants receivable

    beginning of year $165,208 · end of year $92,795

  • 4 · Accounts receivable

    beginning of year $3,225 · end of year $8,845

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,159 · end of year $12,466

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

    $488,275

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

    $203,744

  • 10c · Land, buildings and equipment, net

    beginning of year $172,353 · end of year $284,531

  • 11 · Investments: publicly traded securities

    beginning of year $6,356,459 · end of year $7,082,572

  • 15 · Other assets

    beginning of year $16,326 · end of year $18,460

  • 17 · Accounts payable and accrued expenses

    beginning of year $464,096 · end of year $308,239

  • 19 · Deferred revenue

    beginning of year $109,043 · end of year $104,200

  • 21 · Escrow or custodial account liability

    beginning of year $15,953 · end of year $18,460

  • 24 · Unsecured notes and loans payable

    end of year $72,276

  • 25 · Other liabilities

    beginning of year $2,275 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $842,901 · end of year $892,952

  • 28 · Net assets with donor restrictions

    beginning of year $7,180,207 · end of year $7,821,217

Mission and programs · 2023

Mission

TO PROVIDE GRADUATE LEVEL EDUCATION IN THE FULL BREADTH OF THE BUDDHIST TRADITION WITH SPECIALIZED EDUCATION SUPPORTING PURE LAND AND CONTEMPORARY SHIN BUDDHIST STUDIES, WHILE ADVANCING JODO SHINSHU BUDDHIST MINISTRY AND BUDDHIST CHAPLAINCY.

Activities or mission (Part I)

TO PROVIDE GRADUATE LEVEL EDUCATION IN THE FULL BREADTH OF THE BUDDHIST TRADITION.

  • TO PROVIDE GRADUATE LEVEL DEGREE PROGRAMS IN BUDDHIST STUDIES CULMINATING WITH MASTER OF ART, MASTER OF BUDDHIST STUDIES OR MASTER OF DIVINITY DEGREES TO PREPARE STUDENTS FOR BUDDHIST MINISTRY OR CHAPLAINCY. A RANGE OF CERTIFICATE PROGRAMS ARE OFFERED AND CAN BE COMPLETED BASED ON THE STUDENT'S AREA OF SPECIALIZATION (BUDDHIST CHAPLAINCY, SHIN BUDDHISM CERTIFICATE, BUDDHISM AND CONTEMPORARY PSYCHOLOGY, AND THERAVADA BUDDHIST STUDIES). SPONSOR PUBLIC LECTURES, SEMINARS, CONFERENCES AND SYMPOSIA, PUBLISH JOURNALS, TRANSLATE ARTICLES, AND LECTURES.

    Expenses $1,479,649 · Grants $289,680 · Revenue $444,183

  • DORMITORY-STYLE HOUSING IS MADE AVAILABLE TO STUDENTS.

    Expenses $93,990 · Revenue $2,300

As filed on the 2023 return.

Listed in Part VII

  • Susan Phung

    INT. ACCOUNTING MGR. (UNTIL 12/2023)

    Total calculated
    $226,994
    From this org
    $210,909
    From related orgs
    $0
    Other
    $16,085
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $210,909
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $16,085
    Filer's total
    $226,994

  • Linda Shiozaki

    DIRECTOR OF FINANCE (UNTIL 12/2023)

    Total calculated
    $184,724
    From this org
    $137,116
    From related orgs
    $0
    Other
    $47,608
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,116
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $47,608
    Filer's total
    $184,724

  • Dr Scott Mitchell

    DEAN OF FACULTY & STUDENT AFFAIRS

    Total calculated
    $147,023
    From this org
    $117,045
    From related orgs
    $0
    Other
    $29,978
    Hours/week
    40

  • Paula Arai

    PROFESSOR

    Total calculated
    $134,368
    From this org
    $112,995
    From related orgs
    $0
    Other
    $21,373
    Hours/week
    40

  • David Matsumoto

    PRESIDENT

    Total calculated
    $113,211
    From this org
    $28,657
    From related orgs
    $0
    Other
    $84,554
    Hours/week
    40

  • Nancy Lin

    ASSISTANT PROFESSOR

    Total calculated
    $102,337
    From this org
    $102,337
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • River Cullen

    DIR. OF FIN./ADMIN. (STARTED 01/24)

    Total calculated
    $55,371
    From this org
    $47,667
    From related orgs
    $0
    Other
    $7,704
    Hours/week
    40

  • Dr Leroy Morishita

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    2

  • Dr Patricia Hiramoto

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Ms Cheryl Ikemiya

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Katsuya Kusunoki

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Kiyonobu Kuwahara

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Ms Peggy Okabayashi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mr Charles Ozaki

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Candice Shibata

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Dennis Shinseki

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Mr Richard Stambul

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Jon Turner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • Rev Marvin Harada

    CHANCELLOR

    Total calculated
    $0
    Hours/week
    2

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

None.

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
3 February 2025
IRS schema version
2023v6.0
Source object
202520379349301502

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