Hong Shin Buddhist Center

Analysis

Hong Shin Buddhist Center is a registered charity in United States, based in Chino, CA. It received its IRS tax-exemption ruling in February 2009, 17 years ago. Its declared purposes cover religion-related, which this site groups under religion. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hong Shin Buddhist Center reported income of $589k and spending of $1.4m, spending 243% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $3.2m to $589k (-81%), an average of -57% a year. The sharpest change came in the year to December 2022, when income dropped by 84%. Over the whole period it spent 90% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Hong Shin Buddhist Center sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 74th percentile within CA. Charities of a similar size with the same main cause include Bible Truth Ministries Inc ($589k), Shoulder to Shoulder Mexico ($589k) and Community Ministries Inc ($589k).

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 $21.6m against liabilities of $4.2m, net assets of $17.3m.