Phuoc Binh Monastery

Analysis

Phuoc Binh Monastery is a registered charity in United States, based in Goodlettsvlle, TN. It received its IRS tax-exemption ruling in February 2010, 16 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 2021, Phuoc Binh Monastery reported income of $239k and spending of $136k, leaving 43% of income unspent that year. Across the 2 years on record, from December 2020 to December 2021, income grew from $95k to $239k (+152%), an average of +152% a year. The sharpest change came in the year to December 2021, when income rose by 152%. Over the whole period it spent 70% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Phuoc Binh Monastery sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 58th percentile within TN. Charities of a similar size with the same main cause include Waycoolangels Inc ($239k), Sparrow Ministries Inc ($239k) and Church Prayer Leaders Network Inc ($239k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $12k (8.8% of expenses). At year end it held assets of $1.3m against liabilities of $100k, net assets of $1.2m.