Phuoc Hai Buddhist Temple

Analysis

Phuoc Hai Buddhist Temple is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in June 2007, 19 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, Phuoc Hai Buddhist Temple reported income of $197k and spending of $87k, leaving 56% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $190k to $197k (+3.8%), an average of +0.9% a year. The sharpest change came in the year to December 2023, when income rose by 87%. Over the whole period it spent 44% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Phuoc Hai Buddhist Temple sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within NC. Charities of a similar size with the same main cause include Unlimited Grace Media Inc ($197k), Living Stones Ministries ($197k) and That Day ($197k).

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 $1.1m against liabilities of $50k, net assets of $1.0m.