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← INSTITUTE OF CHUNG HWA BUDDHIST CULTURE INC

Form 990 for tax year 2023

Filed by INSTITUTE OF CHUNG HWA BUDDHIST CULTURE INC.

Totals

Total revenue
$2,120,509
Total expenses
$475,398
Contributions and grants received
$1,320,258
Grants paid
$0
Program service revenue
$0
Investment income
$785,158
Other revenue
$15,093
Total assets, end of year
$26,380,483
Total liabilities, end of year
$9,850
Net assets or fund balances, end of year
$26,370,633
Program services expenses (Part IX)
$27,812
Management and general expenses
$447,586
Fundraising expenses
$0
Program service expenses (Part III)
$27,812

Program services were 5.9% 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.

  • 1b · Membership dues

    $9,090

  • 1c · Fundraising events

    $191,553

  • 1f · All other contributions, gifts and grants

    $1,119,615

  • 3 · Investment income

    total $785,158 · unrelated business $0 · excluded $0

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

    $191,553

  • 10a · Gross sales of inventory

    $15,093

  • 10c · Net income from sales of inventory

    total $15,093 · related or exempt $15,093

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $7,700 · program services $0 · management and general $7,700 · fundraising $0

  • 10 · Payroll taxes

    total $10,632 · program services $0 · management and general $10,632 · fundraising $0

  • 11c · Fees: accounting

    total $10,200 · program services $0 · management and general $10,200 · fundraising $0

  • 13 · Office expenses

    total $5,074 · program services $0 · management and general $5,074 · fundraising $0

  • 16 · Occupancy

    total $113,940 · program services $0 · management and general $113,940 · fundraising $0

  • 17 · Travel

    total $4,285 · program services $0 · management and general $4,285 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $115,600 · program services $0 · management and general $115,600 · fundraising $0

  • 23 · Insurance

    total $112,188 · program services $0 · management and general $112,188 · fundraising $0

  • 24a · Other expenses: UTILITIES

    total $24,928 · program services $0 · management and general $24,928 · fundraising $0

  • 24b · Other expenses: TELEPHONE & WEBSITE

    total $1,560 · program services $0 · management and general $1,560 · fundraising $0

  • 24c · Other expenses: BANK CHARGES

    total $1,717 · program services $0 · management and general $1,717 · fundraising $0

  • 24d · Other expenses: PRINTING & PUBLICATION

    total $4,513 · program services $4,513 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $63,061 · program services $23,299 · management and general $39,762 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $52,865 · end of year $85,343

  • 2 · Savings and temporary cash investments

    beginning of year $15,770,016 · end of year $17,077,301

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

    $9,586,201

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

    $1,825,549

  • 10c · Land, buildings and equipment, net

    beginning of year $7,713,710 · end of year $7,760,652

  • 11 · Investments: publicly traded securities

    beginning of year $1,181,616 · end of year $1,438,181

  • 15 · Other assets

    beginning of year $16,815 · end of year $19,006

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,500 · end of year $9,850

  • 27 · Net assets without donor restrictions

    beginning of year $24,725,522 · end of year $26,370,633

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

Religious institution

  • The institute provided Meditation retreats, buddhist philosophy classes, personal guidance and counciling to numerous individuals all over the world.

    Expenses $27,812 · Grants $991

As filed on the 2023 return.

Listed in Part VII

  • Guo Hui Fa Shi

    President, Board Member

    Total calculated
    $0
    Hours/week
    2

  • Guo Xing Fa Shi

    Vice pres., Board Member

    Total calculated
    $0
    Hours/week
    2

  • Chang Hwa Fa Shi

    Director, Board Member

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

  • Chang Zhai Fa Shi

    Treasurer, Board Member

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

  • Wen-Chiao Peng

    Secretary, Board Member

    Total calculated
    $0
    Hours/week
    2

  • Harry Miller

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Robert Lapides

    Board Member

    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
7 March 2025
IRS schema version
2023v6.0
Source object
202540669349300114

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