Terton Sogyal Foundation

Nonprofit profile at a glance

EIN
271221733
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2125382710
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Private Grantmaking Foundations

Reported finances

Revenue
$51,427
Expenses
$29,471
Assets
$578,762
Liabilities
$2,850

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • PEDRO BEROY (PRESIDENT)

People named in this filing

  • PEDRO BEROY (PRESIDENT)
  • SUZANNAH YARDAS (DIRECTOR)
  • MICHELE PHAMTAN (SECRETARY)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization is organized and operated for exclusively religious, charitable, and educational purposes, specifically the promotion and advancement of the buddhist religion worldwide. The organization's primary activity is the provision of financial support for institutions that further the preservation, study, and practice of buddhism. Examples of such institutions include monasteries, nunneries, schools, study colleges, libraries, retreat centers, and shrines. The organization will also support the preservation of objects and images associated with the practice of buddhism.

What it reported doing in 2024

Program services focus on three major areas: 1. The training and education of practitioners, scholars, translators and teachers who will continue the traditions of study and practice established by sogyal rinpoche, for the benefit of future generations.2. The continued development of rigpa's principal dharma centers around the world, in particular those dedicated to retreat, and transmission of the teachings, and care for the elderly, sick and dying.3. The creation of retirement centers for senior members of the rigpa sangha who have offered many years of dedicated service to sogyal rinpoche's work.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - Most voting board members are independent and revenue comfortably covers expenses. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 58
  • Accountability: 88
  • Sustainability: 74
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63%; rating input score 63
  • Program expense ratio: 67.9%; rating input score 68
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 20.7%; rating input score 21; 42nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 42.7%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 19.64; rating input score 78; 78th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 21% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: -7% per year; rating input score 0; 38th percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 63% of revenue deployed · 67.9% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $20K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and foreign activity
  • Filing history: 13 filing years from 2011 to 2024
  • 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 — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Transparency & Controls: Grant itemization coverage scored 21/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.