Hwazan Buddhist Foundation

Analysis

Hwazan Buddhist Foundation is a registered charity in United States, based in Mercer Island, WA. It received its IRS tax-exemption ruling in October 2003, 23 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hwazan Buddhist Foundation reported income of $1.5m and spending of $972k, leaving 33% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $809k to $1.5m (+80%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 524%. Over the whole period it spent 55% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Hwazan Buddhist Foundation sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within WA. Charities of a similar size with the same main cause include Bridge Ministries of Bryan Texas ($1.5m), Chabad of Ciuj-Napoca Romania Inc ($1.5m) and New Hope Eurasia Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $2.4m against liabilities of $0, net assets of $2.4m.