Ten Thousand Buddhas Summit Monastery

Nonprofit profile at a glance

EIN
954791181
IRS 990 coverage
2017–2023
Forms available
Form 990 2023
Location
Corydon, IN, USA
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Buddhism
Affiliation
Christianity

Official website

Reported finances

Revenue
$41,178
Expenses
$28,272
Assets
$414,025
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • BINH T NGUYEN (VICE PRESIDENT)
  • TRUNG HUYNH (PRESIDENT)

People named in this filing

  • BINH T NGUYEN (VICE PRESIDENT)
  • TRUNG HUYNH (PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Buddhist monastery - carries out its mission of training leaders of buddhist faith in changing world and educating buddhist principles and practices to public.

What it reported doing in 2023

1. 365 daily meditations and prayers to volunteers and clergy members at the monastery2. 52 weekly prayers for buddhist members and public at the monastery3. 12 three-day monthly buddhist faith studies4. 3 big public celerations of buddha birthday (memorial day), parents apprication day (labor day), vietnamese new year (mid-february)5. Summer camp for children ages every summer.6. Sponsored, sheltered, transportation, provided all necessity living expenses, and trained four new buddhist clergies to carry out buddhist mission as stated in monastery mission statement. ( all clergies take the vow of poverty so there is no seperated allocation of expenses for clergies but there is 25% of all service expenses are for this purpose.)

Operating model

Revenue model
Membership-supported. 100% of the money available for current operations came from membership dues.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 100
  • Accountability: 70
  • Sustainability: 74
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.7%; rating input score 69
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 31.3%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 14.64; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -28% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -16.6% per year; rating input score 0; 24th percentile among comparable filings
  • Asset growth: 0.4% per year; rating input score 100; 44th percentile among comparable filings

Details

  • Where the money goes: 68.7% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 2 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $28K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2017 to 2023
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.