Phap Lac Inc

Analysis

Phap Lac Inc is a registered charity in United States, based in Clermont, FL. It received its IRS tax-exemption ruling in May 2019, 7 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, Phap Lac Inc reported income of $87k and spending of $102k, spending 118% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $106k to $87k (-18%), an average of -18% a year. The sharpest change came in the year to December 2023, when income dropped by 18%. Over the whole period it spent 94% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Phap Lac Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 36th percentile within FL. Charities of a similar size with the same main cause include Deeper Still of Northern Indiana ($87k), HRBC Inc ($87k) and Cambodian Buddist Association of Ceres Inc ($87k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $17k against liabilities of $0, net assets of $17k.