Buddhist Mind Corporation

Tax-deductible

Egg Hbr Twp, NJ501(c)(3)ReligionEIN 45-4010588

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Buddhist temple - carries out its missions of training laypersons of Buddhist faith and educating Buddhist principles and practies to the public in greater atlantic ciy, NJ.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Run by 2 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $26K a year · 63% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
84 mo
of spending, in cash
Looks good: 84.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 2 voting members
Fine: 1 of 2 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$63K
+45% vs prior year
Spent
$28K
To programs
98%
Net assets
$268K
By yearFY2019–FY2023
Revenue
$63K
FY2023▲ +45%
Revenue by fiscal year
FY2019$26K
FY2020$42K
FY2021$31K
FY2022$43K
FY2023$63K
Expenses
$28K
FY2023▲ +148%
Expenses by fiscal year
FY2019$12K
FY2020$14K
FY2021$10K
FY2022$11K
FY2023$28K
Net assets
$268K
FY2023▲ +33%
Net assets by fiscal year
FY2019$120K
FY2020$148K
FY2021$169K
FY2022$202K
FY2023$268K

From the FY2023 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Sep 2012.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $28K Management & general 2% · $562

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation
Vice President
$0Pt VII · Sec A
President
$0Pt VII · Sec A
See Buddhist Mind Corporation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Trains lay Buddhists and teaches Buddhist principles to the public.

Provided by the organization

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1 program · $28K · in their own filed words · FY2023
01

1. Daily prayers by laypersons and temple members living in atlantic city area, NJ2. Weekly buddhist prayers and faith studies with attendants from greater atlantic city, NJ.3. Monthly prayers and faith studies by visiting monks and nuns from ten thousand buddhas summit monastery and other TEMPLES.4.

$28Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$63K
Ln 12
Gifts and grantsLn 1h$63K
Money outPt IX
$28K
Ln 25
Programscol B$28K
Managementcol C$562
Owns and owesPt X
$268K
net assets · Ln 32
Cash and savingsLn 1–2$198K
Total assetsLn 16$268K
LiabilitiesLn 26$0
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$63K
Total revenueLn 12$63K
Assets in detailPt X, end of year
CashLn 1$198K
Cash and savings togetherLn 1–2$198K
Land, buildings, equipmentLn 10c$70K
Total assetsLn 16$268K
LiabilitiesLn 26$0
Net assetsLn 32$268K
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$202K$198K
Land, buildings, equipmentLn 10c$70K
Total assetsLn 16$202K$268K
LiabilitiesLn 26$0$0
Net assetsLn 32$202K$268K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Depreciation, depletion and amortizationLn 22$562$562
InsuranceLn 23$503$503
Other expenses (24a–d)Ln 24$27K$27K
Total functional expensesLn 25$28K$28K$562$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $63K$28K$34K$268K 990 PDF
FY2022 $43K$11K$32K$202K 990 PDF
FY2021 $31K$10K$21K$169K 990 PDF
FY2020 $42K$14K$28K$148K 990 PDF
FY2019 $26K$12K$14K$120K 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
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $62,680 across 3 lines filed
VIII-1b Membership dues$62,680
VIII-1h Total contributions, gifts and grants$62,680
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$62,680
Part IX · Statement of functional expenses $28,214 across 3 lines filed
IX-22 Depreciation, depletion and amortizationManagement $562$562
IX-23 InsurancePrograms $503$503
IX-24 Other expenses (24a–d)Programs $27,149$27,149
IX-25 Total functional expensesPrograms $27,652 · Management $562 · Fundraising $0$28,214
Part X · Balance sheet $267,821 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $201,579$198,192
X-10c Land, buildings and equipment, net$69,629
X-16 Total assetsStart of year $201,579$267,821
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $201,579$267,821
X-33 Total liabilities and net assetsStart of year $201,579$267,821
Part XI · Reconciliation of net assets $267,821 net assets at year end
XI-1 Total revenue$62,680
XI-2 Total expenses$28,214
XI-3 Revenue less expenses$34,466
XI-4 Net assets at start of year$201,579
XI-5 Net unrealized gains (losses) on investments$31,776
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$267,821

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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