Won Buddhism of America Inc

Analysis

Won Buddhism of America Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in June 1973, 53 years ago. 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, Won Buddhism of America Inc reported income of $181k and spending of $293k, spending 162% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $155k to $181k (+17%), an average of +3.9% a year. The sharpest change came in the year to December 2020, when income rose by 37%. Over the whole period it spent 113% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Won Buddhism of America Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 54th percentile within CA. Charities of a similar size with the same main cause include National Agricultural Alumni & Development Association Inc ($181k), Chamber Music Society of Louisville Ky ($181k) and Casa Foundation ($181k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $18k (6.1% of expenses). At year end it held assets of $1.1m against liabilities of $144k, net assets of $907k. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.