Civic Intelligence

The Bhutan Foundation

990 • Fiscal year 2023 • EIN 13-3376290

Jul 01, 2022 to Jun 30, 2023 • Filed on May 15, 2024

Organization Profilebhutanfound.org
1050 Connecticut Ave NW Ste 66013Washington, DC 20035

(202) 609-7363

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

26th percentile

0.02x

Higher debt load relative to assets than 26% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

18th percentile

0.03x

Higher debt load relative to revenue than 18% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

45th percentile

1.9%

Higher net margin than 45% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

68th percentile

$172,429

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 3.4% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

26th percentile

-1.6%

Faster asset growth than 26% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

14th percentile

-26%

Faster revenue growth than 14% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets26th percentile

Assets

Down

$6,019,468

Down $100,451 (-1.6%) from 2022

Net Assets

Up

$5,887,853

Up $94,971 (+1.6%) from 2022

Liabilities

Down

$131,615

Down $195,422 (-60%) from 2022

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin45th percentile

Revenue

Down

$4,999,142

Down $1,721,940 (-26%) from 2022

Expenses

Up

$4,901,670

Up $332,624 (+7.3%) from 2022

Net Income

Down

$97,472

Down $2,054,564 (-95%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $475,961Liabilities 2011: $13,356Net Assets 2011: $462,6052011Assets 2012: $895,282Liabilities 2012: $4,555Net Assets 2012: $890,7272012Assets 2013: $1,045,163Liabilities 2013: $16,436Net Assets 2013: $1,028,7272013Assets 2014: $1,535,353Liabilities 2014: $17,912Net Assets 2014: $1,517,4412014Assets 2015: $1,742,699Liabilities 2015: $4,938Net Assets 2015: $1,737,7612015Assets 2016: $1,675,627Liabilities 2016: $7,812Net Assets 2016: $1,667,8152016Assets 2017: $2,043,657Liabilities 2017: $130,605Net Assets 2017: $1,913,0522017Assets 2018: $1,982,741Liabilities 2018: $85,120Net Assets 2018: $1,897,6212018Assets 2019: $2,088,381Liabilities 2019: $85,896Net Assets 2019: $2,002,4852019Assets 2020: $4,865,642Liabilities 2020: $1,641,621Net Assets 2020: $3,224,0212020Assets 2021: $4,490,287Liabilities 2021: $849,441Net Assets 2021: $3,640,8462021Assets 2022: $6,119,919Liabilities 2022: $327,037Net Assets 2022: $5,792,8822022Assets 2023: $6,019,468Liabilities 2023: $131,615Net Assets 2023: $5,887,8532023Assets 2024: $5,755,203Liabilities 2024: $111,201Net Assets 2024: $5,644,0022024

Highlighted filing

2023

Assets$6,019,468
Liabilities$131,615
Net Assets$5,887,853
Open 2023 Filing

Operations Trend

Revenue Growth14th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,480,257Expenses 2011: $1,578,891Net Income 2011: -$98,6342011Revenue 2012: $1,711,983Expenses 2012: $1,283,365Net Income 2012: $428,6182012Revenue 2013: $1,678,027Expenses 2013: $1,549,428Net Income 2013: $128,5992013Revenue 2014: $2,155,382Expenses 2014: $1,671,826Net Income 2014: $483,5562014Revenue 2015: $2,115,247Expenses 2015: $1,894,946Net Income 2015: $220,3012015Revenue 2016: $2,420,729Expenses 2016: $2,508,143Net Income 2016: -$87,4142016Revenue 2017: $2,573,567Expenses 2017: $2,292,112Net Income 2017: $281,4552017Revenue 2018: $2,877,790Expenses 2018: $3,148,221Net Income 2018: -$270,4312018Revenue 2019: $3,902,758Expenses 2019: $3,797,894Net Income 2019: $104,8642019Revenue 2020: $4,579,598Expenses 2020: $3,358,062Net Income 2020: $1,221,5362020Revenue 2021: $4,142,395Expenses 2021: $3,725,570Net Income 2021: $416,8252021Revenue 2022: $6,721,082Expenses 2022: $4,569,046Net Income 2022: $2,152,0362022Revenue 2023: $4,999,142Expenses 2023: $4,901,670Net Income 2023: $97,4722023Revenue 2024: $4,302,332Expenses 2024: $4,546,183Net Income 2024: -$243,8512024

Highlighted filing

2023

Revenue$4,999,142
Expenses$4,901,670
Net Income$97,472
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$4,999,142
Mission and Program Overview

Mission

The Bhutan Foundation's mission is to help improve the quality of life of the Bhutanese people by enabling its citizens to pursue activities that benefit Bhutanese society and to increase awareness of Bhutan and its culture in the United States.

The mission of the bhutan foundation is to help improve the quality of life of the bhutanese people by enabling its citizens to pursue activities that benefit bhutanese society and to increase awareness of bhutan and its culture in the united states.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$4,721,503$3,864,236▼ $857,267
Cash and Non-Interest-Bearing Accounts$969,240$1,923,774▲ $954,534
Prepaid Expenses and Deferred Charges$196,945--
Pledges and Grants Receivable$178,076$157,560▼ $20,516
Land, Buildings, and Equipment, Net$54,155$73,095▲ $18,940
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$6,119,919$6,019,468▼ $100,451
Other Assets Total-$803-
Liabilities
Accounts Payable and Accrued Expenses$78,823$118,060▲ $39,237
Deferred Revenue$248,214$13,555▼ $234,659
Total Liabilities$327,037$131,615▼ $195,422
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,932,369$3,568,551▲ $636,182
Net Assets With Donor Restrictions$2,860,513$2,319,302▼ $541,211
Total Net Assets Fund Balance$5,792,882$5,887,853▲ $94,971
Total Liabilities and Net Assets / Fund Balance$6,119,919$6,019,468▼ $100,451

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$41,382$10,077-
Equipment$10,993$71,354-
Leasehold Improvements$20,722$20,227-
Compensation and Service Providers
Top Officer Pay68th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Tshewang WangchukExecutive DirectorFT$137,943$34,486$172,429

Board Members and Trustees

NameTitle
Daphne Hoch CunninghamCo-chairperson
Hm Gyalyum Tseyring Pem WangchukCo-chairperson
William TaconVice Chairperson
David HulseBoard Member
Donna MarshallBoard Member
Douglas W Hamilton JrBoard Member
Eric LemelsonBoard Member
Henry LewisBoard Member
Lisa DanzigBoard Member
Michael PhilippBoard Member
Phuntsho NorbuBoard Member
Rebecca WinsorBoard Member
Rosemary PhelanBoard Member
Theodore KaplanBoard Member
Lucy GoeletSecretary
Brian MenkesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,918,256
Program Service Revenue
$0
Investment Income
$64,619
Other Revenue
$16,267
All Other Contributions
$4,288,914
Change in Net Assets
$97,472

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,999,142
Revenue Not Reported on Form 990
$501,989
Total Revenue per Audited Statements
$5,501,131
Total Revenue per Form 990
$4,999,142
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,748,169
Salaries, Compensation, and Employee Benefits$807,415
Other Expenses$346,086
Total Fundraising Expense$245,282
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$3,747,785--$3,747,785
Other Salaries and Wages$284,443$52,540$117,494$454,477
Current Officers, Directors, Trustees, and Key Employees$74,577$14,915$59,662$149,154
Other Employee Benefits$65,581$29,770$48,932$144,283
Travel$46,241$27,876$2,735$76,852
Office Expenses$11,617$42,972$9,687$64,276
Conferences and Meetings$50,466$12,138$586$63,190
Fees for Services Other$46,062$1,120-$47,182
Payroll Taxes$-846$41,967-$41,121
Fees for Services Accounting-$29,868-$29,868
Occupancy-$27,515-$27,515
Depreciation Depletion-$19,370-$19,370
Pension Plan Contributions$-1,286$19,666-$18,380
Information Technology$3,352$3,082$6,129$12,563
Insurance-$4,579-$4,579
Advertising$119$515$57$691
Grants to Domestic Orgs$384--$384
Total Functional Expenses$4,328,495$327,893$245,282$4,901,670

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,406,160
Expenses per Audited Statements$4,901,670
Total Expenses per Form 990$4,901,670
Expenses Not Reported on Form 990$504,490
International Activity

International Summary

Offices
1
Employees
11
Spending
$3,519,082

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AsiaProgram Services, Management, FundraisingAll Programs111$3,519,082
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section B, Line 11B

“The 990 is reviewed by management, executive director, treasurer, and/or accountant prior to filing.”

Part VI, Section B, Line 12C

“The bhutan foundations conflict of interest policy requires that all officers, directors, and key employees disclose any conflicts of interest. The foundation keeps a copy of the conflict of interest disclosures and requires that all officers, directors, and key employees review and update the disclosure at the annual board meeting.”

Part VI, Section B, Line 15A

“The compensation of the executive director and key employees is determined and approved by the finance committee of the board. The finance committee makes sure that pay is competitive and comparable to other nonprofit organizations of similar size based in the washington dc area by reviewing the guidestar nonprofit compensation and similar reports.”

Part VI, Section C, Line 19

“The bhutan foundation makes governing documents and conflict of interest policies available upon request. 990s are shared with grantors, and financial statements are published in the foundations annual reports.”

Filing and Contact Details

Filer

Filer Name
The Bhutan Foundation
EIN
13-3376290
Phone
2026097363
Address
1050 CONNECTICUT AVE NW STE 66013, WASHINGTON, DC 20035

Signing Officer

Name
Tshewang Wangchuk
Title
Executive Director
Phone
2026097363
Signed
2024-05-15

Organization Details

Principal Officer
Tshewang Wangchuk
Formed
1986
Legal Domicile
De
Voting Board Members
17
Independent Board Members
16
Employees
7

Preparer

Firm
Thrive Advisory Solutions LLC
Address
2191 EBENEZER RD UNIT 36983, ROCK HILL, SC 29732
Preparer
Nicholas a Cunningham
Phone
8036204255
Supplemental Narrative

Financial Statement Notes

Part XII, line 2D

“Immaterial difference in consultant compensation”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THE MISSION OF THE BHUTAN FOUNDATION IS TO HELP IMPROVE THE QUALITY OF LIFE OF THE BHUTANESE PEOPLE BY ENABLING ITS CITIZENS TO PURSUE ACTIVITIES THAT BENEFIT BHUTANESE SOCIETY AND TO INCREASE AWARENESS OF BHUTAN AND ITS CULTURE IN THE UNITED STATES.
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IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
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IRS990/OfficeExpensesGrp/FundraisingAmt09687
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt042972
IRS990/OfficeExpensesGrp/ProgramServicesAmt011617
IRS990/OfficeExpensesGrp/TotalAmt064276
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IRS990/OperateHospitalInd00
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt048932
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt029770
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt065581
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0144283
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IRS990/PayrollTaxesGrp/TotalAmt041121
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IRS990/PrincipalOfficerNm0TSHEWANG WANGCHUK
IRS990/ProfessionalFundraisingInd00
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IRS990/PYTotalProfFndrsngExpnsAmt0280
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IRS990/QuidProQuoContributionsInd00
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IRS990/RegularMonitoringEnfrcInd01
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,019,468
Liabilities
$131,615
Net assets
$5,887,853
Revenue
$4,999,142
Expenses
$4,901,670
Net income
$97,472
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.76$0.11$5.64$4.30$4.55$0.24
2023Detailed filing. Detailed filing data is available for this year.$6.02$0.13$5.89$5.00$4.90$0.10
2022Detailed filing. Detailed filing data is available for this year.$6.12$0.33$5.79$6.72$4.57$2.15
2021Detailed filing. Detailed filing data is available for this year.$4.49$0.85$3.64$4.14$3.73$0.42
2020Detailed filing. Detailed filing data is available for this year.$4.87$1.64$3.22$4.58$3.36$1.22
2019Detailed filing. Detailed filing data is available for this year.$2.09$0.09$2.00$3.90$3.80$0.10
2018Detailed filing. Detailed filing data is available for this year.$1.98$0.09$1.90$2.88$3.15$0.27
2017Detailed filing. Detailed filing data is available for this year.$2.04$0.13$1.91$2.57$2.29$0.28
2016Detailed filing. Detailed filing data is available for this year.$1.68$0.01$1.67$2.42$2.51$0.09
2015Detailed filing. Detailed filing data is available for this year.$1.74$0.00$1.74$2.12$1.89$0.22
2014Summary only. Only limited summary data is available for this year.$1.54$0.02$1.52$2.16$1.67$0.48
2013Summary only. Only limited summary data is available for this year.$1.05$0.02$1.03$1.68$1.55$0.13
2012Summary only. Only limited summary data is available for this year.$0.90$0.00$0.89$1.71$1.28$0.43
2011Summary only. Only limited summary data is available for this year.$0.48$0.01$0.46$1.48$1.58$0.10