Congregation of Vietnamese Buddhists Chicago-Quang Minh Tmple

Analysis

Congregation of Vietnamese Buddhists Chicago-Quang Minh Tmple is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 1994, 32 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, Congregation of Vietnamese Buddhists Chicago-Quang Minh Tmple reported income of $264k and spending of $232k, spending 88% of its income. Across the 6 years on record, from December 2018 to December 2023, income fell from $495k to $264k (-47%), an average of -12% a year. The sharpest change came in the year to December 2019, when income dropped by 54%. Over the whole period it spent 71% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Congregation of Vietnamese Buddhists Chicago-Quang Minh Tmple sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within IL. Charities of a similar size with the same main cause include Santa Clothes Club Inc ($264k), Book for Hope Inc ($264k) and Chisholm Trail Retired Senior Volunteer Program Inc ($264k).

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 $506k against liabilities of $0, net assets of $506k.