Ton Thang Monastery FY2023 filing

Tax-deductible

El Monte, CA501(c)(3)ReligionEIN 84-3514653

Provide spiritual guidance to buddhist worshippers

501(c)(3) charity; gifts are tax-deductible.
11¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $309K a year · 53% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
11%
of spending
Concern: 11% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 4.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $48K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
31% of total assets
Looks good: liabilities are 31% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 2 voting members
Concern: none of 2 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$281K
-69% vs prior year
Spent
$354K
To programs
11%
Net assets
$2.5M
By yearFY2019–FY2024
Revenue
$281K
FY2023▼ -69%
Revenue by fiscal year
FY2019$0
FY2020$60K
FY2021$1.3M
FY2022$904K
FY2023$281K
FY2024$346K
Expenses
$354K
FY2023▼ -28%
Expenses by fiscal year
FY2019Not on file
FY2020$54K
FY2021$0
FY2022$490K
FY2023$354K
FY2024$448K
Net assets
$2.5M
FY2023▼ -3%
Net assets by fiscal year
FY2019Not on file
FY2020$30K
FY2021$2.1M
FY2022$2.5M
FY2023$2.5M
FY2024$2.4M

From the FY2023 Form 990 · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2020.

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

Where the money goes

11 cents of each dollar spent went to programs.

Program services 11% · $38K Management & general 89% · $317K

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

Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A

Phong Huynh’s $12K as President is at the 9th percentile of top reported officer pay among 2133 $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.

See Ton Thang Monastery 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

Offers spiritual guidance to Buddhist worshippers.

Provided by the organization

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1 program service account for $38K of program spending, described in the organization's own filed words · FY2023.
01

The organization successfully provided spirual guidance in local Asian community and to improve mental and healthy life style.

$38Kprogram 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 · FY2023
Total grants receivedfrom 1 funder$48K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$281K
Ln 12
Gifts and grantsLn 1h$281K
Money outPt IX
$354K
Ln 25
Programscol B$38K
Managementcol C$317K
Owns and owesPt X
$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$140K
Total assetsLn 16$3.6M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$281K
Fundraising eventsLn 1c$281K
Total revenueLn 12$281K
Assets in detailPt X, end of year
CashLn 1$140K
Cash and savings togetherLn 1–2$140K
Land, buildings, equipmentLn 10c$3.4M
Total assetsLn 16$3.6M
LiabilitiesLn 26$1.1M
Net assetsLn 32$2.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$209K$140K
Land, buildings, equipmentLn 10c$3.4M$3.4M
Total assetsLn 16$3.6M$3.6M
LiabilitiesLn 26$1.1M$1.1M
Net assetsLn 32$2.5M$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$24K$24K
Legal feesLn 11b$7K$7K
Advertising and promotionLn 12$13K$13K
Office expensesLn 13$846$846
Conferences, conventions and meetingsLn 19$63K$63K
InsuranceLn 23$15K$15K
Other expenses (24a–d)Ln 24$186K$186K
All other expensesLn 24e$46K$46K
Total functional expensesLn 25$354K$38K$317K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $346K$448K−$102K$2.4M 990 PDF
FY2023 Viewing $281K$354K−$74K$2.5M 990 PDF
FY2022 $904K$490K$414K$2.5M 990 PDF
FY2021 $1.3M$0$1.3M$2.1M 990 PDF
FY2020 $60K$54K$6K$30K 990 PDF
FY2019 $0 990 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 $280,626 across 3 lines filed
VIII-1c Fundraising events$280,626
VIII-1h Total contributions, gifts and grants$280,626
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$280,626
Part IX · Statement of functional expenses $354,445 across 8 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $24,000$24,000
IX-11b Legal feesManagement $6,576$6,576
IX-12 Advertising and promotionPrograms $12,870$12,870
IX-13 Office expensesPrograms $846$846
IX-19 Conferences, conventions and meetingsManagement $63,011$63,011
IX-23 InsuranceManagement $14,929$14,929
IX-24 Other expenses (24a–d)Management $186,328$186,328
IX-24e All other expensesManagement $45,885$45,885
IX-25 Total functional expensesPrograms $37,716 · Management $316,729 · Fundraising $0$354,445
Part X · Balance sheet $3,574,734 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $208,738$139,606
X-10c Land, buildings and equipment, netStart of year $3,435,128$3,435,128
X-16 Total assetsStart of year $3,643,866$3,574,734
X-24 Unsecured notes and loans payable$26,887
X-25 Other liabilitiesStart of year $1,101,220$1,079,020
X-26 Total liabilitiesStart of year $1,101,220$1,105,907
X-32 Total net assets or fund balancesStart of year $2,542,646$2,468,827
X-33 Total liabilities and net assetsStart of year $3,643,866$3,574,734
Part XI · Reconciliation of net assets $2,468,827 net assets at year end
XI-1 Total revenue$280,626
XI-2 Total expenses$354,445
XI-3 Revenue less expenses−$73,819
XI-4 Net assets at start of year$2,542,646
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,468,827

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

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