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Phuoc Hai Buddhist Temple FY2020 filing

Tax-deductible

Charlotte, NC501(c)(3)Since 2007Religion EIN 56-2634986Revenue $211K in FY2020

On file with the IRS7004 Tuckaseegee Rd, 28214-2738 · Charlotte, NCTax-exempt since Jun 2007Church

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Religious organization to propagate buddhism

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2020 · 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
8 mo
of spending, in cash
Looks good: 8.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$130K
16% of total assets
Looks good: liabilities are 16% 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
$211K
Spent
$83K
To programs
0%
Net assets
$698K
By yearFY2020–FY2025
Revenue
$211K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$211K
FY2021$315K
FY2022$105K
FY2023$197K
FY2024$70K
FY2025$68K
Expenses
$83K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$83K
FY2021$114K
FY2022$111K
FY2023$87K
FY2024$102K
FY2025$129K
Net assets
$698K
FY2020
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 FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

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% · $83K

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
Kim Chi Thi Hoang
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 · FY2020
01

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

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$211K
Ln 12
Investment incomeLn 3$140K
Gifts and grantsLn 1h$71K
Fees for servicesLn 2g$1
Money outPt IX
$83K
Ln 25
Managementcol C$83K
Owns and owesPt X
$698K
net assets · Ln 32
Cash and savingsLn 1–2$57K
Total assetsLn 16$828K
LiabilitiesLn 26$130K
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$71K
Fees for servicesLn 2g$1
Investment incomeLn 3$140K
Gains on assetsLn 7$140K
Total revenueLn 12$211K
Assets in detailPt X, end of year
CashLn 1$57K
Cash and savings togetherLn 1–2$57K
Land, buildings, equipmentLn 10c$771K
Total assetsLn 16$828K
LiabilitiesLn 26$130K
Net assetsLn 32$698K
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 FY20End FY20
Cash and savingsLn 1–2$17K$57K
Land, buildings, equipmentLn 10c$654K$771K
Total assetsLn 16$670K$828K
LiabilitiesLn 26$100K$130K
Net assetsLn 32$570K$698K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$2K$0$2K$0
Office expensesLn 13$6K$0$6K$0
OccupancyLn 16$29K$0$29K$0
TravelLn 17$672$0$672$0
Depreciation, depletion and amortizationLn 22$23K$0$23K$0
InsuranceLn 23$6K$0$6K$0
Other expenses (24a–d)Ln 24$15K$0$15K$0
Total functional expensesLn 25$83K$0$83K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $68K$129K−$62K$911K 990 PDF
FY2024Filed with the IRS May 14, 2025 $70K$102K−$31K$973K 990 PDF
FY2023Filed with the IRS May 13, 2024 $197K$87K$110K$1.0M 990 PDF
FY2022Filed with the IRS May 10, 2023 $105K$111K−$6K$894K 990 PDF
FY2021Filed with the IRS May 13, 2022 $315K$114K$200K$900K 990 PDF
FY2020 ViewingFiled with the IRS May 9, 2021 $211K$83K$128K$698K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $210,751 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $190,018$70,750
I-9 Program service revenue$1
I-10 Investment incomePrior year $2$140,000
I-11 Other revenue$0
I-12 Total revenuePrior year $190,020$210,751
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 $56,052$82,661
I-18 Total expensesPrior year $56,052$82,661
I-19 Revenue less expensesPrior year $133,968$128,090
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 $210,751 across 4 lines filed
VIII-1f All other contributions, gifts and grants$70,750
VIII-1h Total contributions, gifts and grants$70,750
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $140,000 · Excluded from tax $0$140,000
VIII-12 Total revenueRelated to mission $0 · Unrelated business $140,001 · Excluded from tax $0$210,751
Part IX · Statement of functional expenses $82,661 across 7 lines filed
IX-11b Legal feesPrograms $0 · Management $1,935 · Fundraising $0$1,935
IX-13 Office expensesPrograms $0 · Management $6,028 · Fundraising $0$6,028
IX-16 OccupancyPrograms $0 · Management $29,296 · Fundraising $0$29,296
IX-17 TravelPrograms $0 · Management $672 · Fundraising $0$672
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $23,275 · Fundraising $0$23,275
IX-23 InsurancePrograms $0 · Management $6,226 · Fundraising $0$6,226
IX-24 Other expenses (24a–d)Programs $0 · Management $15,229 · Fundraising $0$15,229
IX-25 Total functional expensesPrograms $0 · Management $82,661 · Fundraising $0$82,661
Part X · Balance sheet $828,417 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $16,681$57,090
X-10c Land, buildings and equipment, netStart of year $653,646$771,327
X-16 Total assetsStart of year $670,327$828,417
X-24 Unsecured notes and loans payableStart of year $100,000$130,000
X-26 Total liabilitiesStart of year $100,000$130,000
X-32 Total net assets or fund balancesStart of year $570,327$698,417
X-33 Total liabilities and net assetsStart of year $670,327$828,417
Part XI · Reconciliation of net assets $698,417 net assets at year end
XI-1 Total revenue$210,751
XI-2 Total expenses$82,661
XI-3 Revenue less expenses$128,090
XI-4 Net assets at start of year$570,327
XI-10 Net assets at end of year$698,417

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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