Phuoc Hai Buddhist Temple

Tax-deductible

Charlotte, NC501(c)(3)Since 2007ReligionEIN 56-2634986Revenue $68K in FY2025

On file with the IRS7004 Tuckaseegee Rd, 28214-2738 · Charlotte, NCTax-exempt since Jun 2007Church — 170(b)(1)(A)(i)

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Religious organization to propagate buddhism

501(c)(3) charity; gifts are tax-deductible.
Run by 10 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $57K a year · 35% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$60K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 2 voting members
Looks good: 2 of 2 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$68K
-4% vs prior year
Spent
$129K
To programs
0%
Net assets
$911K
By yearFY2020–FY2025
Revenue
$68K
FY2025▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2020$211K
FY2021$315K
FY2022$105K
FY2023$197K
FY2024$70K
FY2025$68K
Expenses
$129K
FY2025▲ +27%
Tap a bar for its year
Expenses by fiscal year
FY2020$83K
FY2021$114K
FY2022$111K
FY2023$87K
FY2024$102K
FY2025$129K
Net assets
$911K
FY2025▼ -6%
Tap a bar for its year
Net assets by fiscal year
FY2020$698K
FY2021$900K
FY2022$894K
FY2023$1.0M
FY2024$973K
FY2025$911K

From the FY2025 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2007.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $129K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation
President/Abbot
$0Pt VII · Sec A
See Phuoc Hai Buddhist Temple 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

Spreads Buddhist teachings and practices to share wisdom and compassion.

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Provided by the organization

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1 program · in their own filed words · FY2025
01

We hold lectures and prayers service on weekly schedule to about 30+ members

Pt IX · col B

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$68K
Ln 12
Gifts and grantsLn 1h$68K
Investment incomeLn 3$7
Money outPt IX
$129K
Ln 25
Managementcol C$129K
Owns and owesPt X
$911K
net assets · Ln 32
Cash and savingsLn 1–2$71K
Total assetsLn 16$971K
LiabilitiesLn 26$60K
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$68K
Investment incomeLn 3$7
Total revenueLn 12$68K
Assets in detailPt X, end of year
CashLn 1$15K
SavingsLn 2$55K
Cash and savings togetherLn 1–2$71K
Land, buildings, equipmentLn 10c$900K
Total assetsLn 16$971K
LiabilitiesLn 26$60K
Net assetsLn 32$911K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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 FY25End FY25
Cash and savingsLn 1–2$98K$71K
Land, buildings, equipmentLn 10c$893K$900K
Total assetsLn 16$991K$971K
LiabilitiesLn 26$18K$60K
Net assetsLn 32$973K$911K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
OccupancyLn 16$22K$0$22K$0
TravelLn 17$1K$0$1K$0
Depreciation, depletion and amortizationLn 22$54K$0$54K$0
InsuranceLn 23$3K$0$3K$0
Other expenses (24a–d)Ln 24$15K$0$15K$0
All other expensesLn 24e$33K$0$33K$0
Total functional expensesLn 25$129K$0$129K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $68K$129K−$62K$911K 990 PDF
FY2024 $70K$102K−$31K$973K 990 PDF
FY2023 $197K$87K$110K$1.0M 990 PDF
FY2022 $105K$111K−$6K$894K 990 PDF
FY2021 $315K$114K$200K$900K 990 PDF
FY2020 $211K$83K$128K$698K 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 FY2025 990 (6 parts)
Part I · Summary $67,624 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $66,028$67,617
I-9 Program service revenue$0
I-10 Investment incomePrior year $4,294$7
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $70,322$67,624
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $101,553$129,478
I-18 Total expensesPrior year $101,553$129,478
I-19 Revenue less expensesPrior year −$31,231−$61,854
Part VI · Governance 2 of 2 board members independent, 4 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members2
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $67,624 across 4 lines filed
VIII-1f All other contributions, gifts and grants$67,617
VIII-1h Total contributions, gifts and grants$67,617
VIII-3 Investment incomeUnrelated business $7 · Excluded from tax $0$7
VIII-12 Total revenueRelated to mission $0 · Unrelated business $7 · Excluded from tax $0$67,624
Part IX · Statement of functional expenses $129,478 across 6 lines filed
IX-16 OccupancyPrograms $0 · Management $22,371 · Fundraising $0$22,371
IX-17 TravelPrograms $0 · Management $1,300 · Fundraising $0$1,300
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $54,425 · Fundraising $0$54,425
IX-23 InsurancePrograms $0 · Management $2,862 · Fundraising $0$2,862
IX-24 Other expenses (24a–d)Programs $0 · Management $15,304 · Fundraising $0$15,304
IX-24e All other expensesPrograms $0 · Management $33,216 · Fundraising $0$33,216
IX-25 Total functional expensesPrograms $0 · Management $129,478 · Fundraising $0$129,478
Part X · Balance sheet $971,067 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $14,830$15,465
X-2 Savings and temporary cash investmentsStart of year $83,145$55,151
X-10c Land, buildings and equipment, netStart of year $892,948$900,451
X-16 Total assetsStart of year $990,923$971,067
X-24 Unsecured notes and loans payableStart of year $17,613$59,611
X-26 Total liabilitiesStart of year $17,613$59,611
X-32 Total net assets or fund balancesStart of year $973,310$911,456
X-33 Total liabilities and net assetsStart of year $990,923$971,067
Part XI · Reconciliation of net assets $911,456 net assets at year end
XI-1 Total revenue$67,624
XI-2 Total expenses$129,478
XI-3 Revenue less expenses−$61,854
XI-4 Net assets at start of year$973,310
XI-10 Net assets at end of year$911,456

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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