Thanh Tu Meditation Center

Nonprofit profile at a glance

EIN
824209204
IRS 990 coverage
2018–2022
Forms available
Form 990 2022, Form 990-EZ 2021
Location
Williamstown, NJ, USA
Rating
41
Verdict
MIXED
Rating confidence
Moderate
Sector
Buddhism
Affiliation
Buddhism

Reported finances

Revenue
$392,264
Expenses
$105,050
Assets
$287,214
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

1 person listed

Highest reported compensation

  • THAY TUE PHAT (DIRECTOR): $7,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Buddhism encourages its people to avoid self-indulgence but also self-denial.

What it reported doing in 2022

Whatever

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 86
  • Accountability: 58
  • Sustainability: 79
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 3rd 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; 63rd percentile among comparable filings
  • Governance controls: 0 of 8 controls in place; rating input score 0
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 73.2%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 2.73; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 6.7%; rating input score 33; 33rd percentile among comparable filings

Growth

  • Program expense growth: -50% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -18.1% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: -32.5% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 2 of 2 board members independent · 0 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $7K · 1 people listed
  • Consistency: 9 of 11 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules
  • Filing history: 2 filing years from 2018 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Governance controls: 8 of 8 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule G fundraiser detail did not reconcile in the filed values.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 33/100.