Sikhnet INC FY2024 filing

Cypress, TX · Religious organization · Since 2009 · Religion

✓ Tax-deductible
Revenue
$982K
-3% vs prior year
Spent
$914K
To programs
37%
Net assets
$1.6M
By yearFY2021–FY2024
Revenue
$982K
FY2024▼ -3%
Revenue by fiscal year
FY2021$1.5M
FY2022$1.2M
FY2023$1.0M
FY2024$982K
FY2024$790K
Expenses
$914K
FY2024▼ -14%
Expenses by fiscal year
FY2021$742K
FY2022$830K
FY2023$1.1M
FY2024$914K
FY2024$1.0M
Net assets
$1.6M
FY2024▲ +4%
Net assets by fiscal year
FY2021$1.2M
FY2022$1.5M
FY2023$1.5M
FY2024$1.6M
FY2024$1.3M

From the FY2024 Form 990 (year ending June 2024) · see the original

You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CSikhnet INC
EINHdr · item D26-4806284
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 2010
Year of formationHdr · item L2009
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CCypress, TX
NTEE classificationIRS BMFReligion (X80)
WebsiteHdr · item Jwww.sikhnet.com

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.37 Management & general $0.46 Fundraising $0.17
Program services37%$342K
Management & general46%$419K
Fundraising17%$154K
Total functional expensesLn 25$914K

Financial health

Is it on solid ground?

Program efficiency
37%
of spending reaches programs
Operating runway
19.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
+7%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$1.6M
FY2024▲ +4%
Total assets by fiscal year
FY2021$1.2M
FY2022$1.6M
FY2023$1.5M
FY2024$1.6M
FY2024$1.4M
Total liabilities
$33K
FY2024▼ -15%
Total liabilities by fiscal year
FY2021$38K
FY2022$38K
FY2023$38K
FY2024$33K
FY2024$52K
Revenue less expensesPt I · Ln 19$67K
Total assetsPt X · Ln 16$1.6M
Program-expense ratioPt IX · col B37%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 44

Balance Sheet

Part X · end of year
CashLn 1$1.3M
Total assetsLn 16$1.6M
Total liabilitiesLn 26$33K
Total net assetsLn 32$1.6M
Months of cash on handcomputed17.4

Statement of Revenue

Part VIII
Contributions & grants$957K · 97%
Investment income$20K · 2%
Contributions & grants97%$957K
Investment income2%$20K
Program service revenue$4K
Total revenueLn 12$982K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.5M · Operating expenses (Pt IX) $914K · Less non-cash grants $963 · Cash operating expenses/yr $913K
19.8 months
Where the money goes
Program services
Program services $342K · Total expenses $914K
37%
Management & General
Management & general $419K · Total expenses $914K
46%
Fundraising
Fundraising $154K · Total expenses $914K
17%
Cost to raise $1
Fundraising expense (3-yr avg) $113K · Solicited contributions (3-yr avg) $1.0M
$0.11 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $957K · Total revenue $982K
97%
Government reliance
Government grants — · Total revenue $982K
—
Earned-income share
Program service revenue $4K · Total revenue $982K
0.4%
Investment reliance
Investment income $20K · Total revenue $982K
+2%
Program self-sufficiency
Program service revenue $4K · Total expenses $914K
0.5%
Growth & trend
Revenue growth (YoY)
This year $982K · Prior year $1.0M
-3%
Net-asset trend (YoY)
End of year $1.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $982K · Expenses $914K
+7%
Liabilities-to-Assets
Total liabilities — · Total assets $1.6M
—
Net-asset ratio
Net assets $1.6M · Total assets $1.6M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $186K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.6M
12%
People & payroll
Highest Reported Total Compensation
Individual Kaylee Spinhirn · Reported title CFO · Highest reported compensation $92K · Total expenses $914K
10%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $550K · Total expenses $914K
60%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 37%——
Overhead ratio 46%——
Fundraising cost ratio 16%——
Revenue growth -3%——
Investment management fee ratio 0.04%——
Accounting fee ratio 1%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$92,120Pt VII · Sec A
Chief Develo
$81,391Pt VII · Sec A
$51,741Pt VII · Sec A
Chief Techno
$15,362Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Alan E Walker’s $94K as Executive Director is at the 87th percentile of top reported officer pay among 2132 $100K–1M religion nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021
Gurumustuk S Khalsa——$163,177$122,231$106,575
Alan E Walker$94,333————
Alan Walker$94,333————
Kaylee Spinhirn—$92,120———
Kaylee Spinhirn$90,856—$91,782$76,597—
Frances Jessop$87,584————
Ek Ong Kaar Kaur Michaud——$85,000——
Frances Jessop—$81,391———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Governance & Policies

Part VI
  • 5Voting board membersPt VI · Ln 1a
  • 4Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Helps Sikhs connect their faith to modern life.

Provided by the organization

This section is blank until Sikhnet INC claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $342K of program spending, described in the organization's own filed words · FY2023.
01

Sikhnet provides free, easily accessible, and spiritually inspiring media that supports a sikh lifestyle, and provides an inclusive platform for sikhs to share their original creative work. Sikhnet aspires to become the preferred global resource for spiritually uplifting sikh media.

$342Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 6 funders →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Viewing $982K$914K-3% 990 PDF
FY2023 $1.0M$1.1M-13% 990 PDF
FY2022 $1.2M$830K-20% 990 PDF
FY2021 $1.5M$742K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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