Khalsa Gurmat Center EIN 47-3479109 Form 990 (PDF) Claim this org

Khalsa Gurmat Center

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Empowering the Sikh community through education programs. For fiscal year 2024 it reported $941K in revenue, $377K in expenses, and $4.3M in net assets.Pt I

Type
Religious organization · Religion
Location
Tumwater, WA
Website
www.khalsagurmatschool.org
Filings
5 on file (2020–2024)
Revenue
$941KFY2024
Expenses
$377K
Net assets
$4.3M
People
5
Filings
5
Updates
0
More identity details & actions ⌄
EIN  47-3479109 Religious organization Tumwater, WA
Form 990 (PDF)
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Size
$100K–1M
What they do
Empowering the Sikh community through education programs.
Leadership
Jasmit Kochhar · Board Member
Money in and out
$941K revenue, $377K expenses
Bottom line
98% program efficiency
Where the money goes · FY2024
Total revenue
$941K
Pt VIII · Ln 12
Total expenses
$377K
Pt IX · Ln 25
Net assets
$4.3M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $565K
Where spending went · Part IX cols B–D
Program services $0.98 Management & general $0.02
Program efficiency
98%
of spending reaches programs▲ +4% vs prior filing year
Operating runway
14.0mo
months of highly liquid reserves at operating expense rate▼ -1% vs prior filing year
Surplus margin
+60%
revenue over expenses, this year▲ +5% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$941K
FY2024▼ -6%
Expenses
$377K
FY2024▼ -12%
Total assets
$4.6M
FY2024▲ +10%
Total liabilities
$255K
FY2024▼ -36%
Total revenue
$941K
Pt VIII · Ln 12
Total expenses
$377K
Pt IX · Ln 25
Net assets
$4.3M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$565K
Total assetsPt X · Ln 16$4.6M
Program-expense ratioPt IX · col B98%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45
Mission & Programs · Part III

Where the work happens

1 program service account for $371K of program spending, described in the organization's own filed words · FY2024.
01

To work on education and empowerment for the sikh community.

$371Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CKhalsa Gurmat Center
EINHdr · item D47-3479109
Principal addressHdr · item CTumwater, WA
WebsiteHdr · item Jwww.khalsagurmatschool.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MWA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFReligion (X99)
Ruling yearIRS BMFJun 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$835K · 89%
Investment income$58K · 6%
Other revenue$48K · 5%
Contributions & grants89%$835K
Investment income6%$58K
Other revenue5%$48K
— government grantsLn 1e$185K
Total revenueLn 12$941K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.98 Management & general $0.02
Program services98%$371K
Management & general2%$6K
Total functional expensesLn 25$377K

Balance Sheet

Part X · end of year
CashLn 1$440K
Total assetsLn 16$4.6M
Total liabilitiesLn 26$255K
Total net assetsLn 32$4.3M
Months of cash on handcomputed14.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $440K · Operating expenses/yr $377K
14.0 months
Where the money goes
Program services
Program services $371K · Total expenses $377K
98%
Management & General
Management & general $6K · Total expenses $377K
2%
Fundraising
Fundraising $0 · Total expenses $377K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $468K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $835K · Total revenue $941K
89%
Government reliance
Government grants $185K · Total revenue $941K
20%
Earned-income share
Program service revenue $0 · Total revenue $941K
0%
Investment reliance
Investment income $58K · Total revenue $941K
+6%
Program self-sufficiency
Program service revenue $0 · Total expenses $377K
0%
Growth & trend
Revenue growth (YoY)
This year $941K · Prior year $998K
-6%
Revenue CAGR
FY2020 $340K · FY2024 $941K
+29%
Net-asset trend (YoY)
End of year $4.3M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $941K · Expenses $377K
+60%
Liabilities-to-Assets
Total liabilities — · Total assets $4.6M
Net-asset ratio
Net assets $4.3M · Total assets $4.6M
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $4.6M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jasmit Kochhar · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $377K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $2K · Total expenses $377K
0.4%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 98%
Overhead ratio 2%
Fundraising cost ratio 0%
Revenue growth -6%
Legal fee ratio 0.1%

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.

Grants

Schedule I · funders on record
Grants received · FY2024
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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$941K revenue · viewing · ⤓ 990 PDF
FY2023$998K revenue · ⤓ 990 PDF
FY2022$617K revenue · ⤓ 990 PDF
FY2021$472K revenue · ⤓ 990 PDF
FY2020$340K revenue · ⤓ 990 PDF

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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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