Civic Intelligence

Pema Chodron Foundation

990 • Fiscal year 2018 • EIN 20-5958865

Jan 01, 2018 to Dec 31, 2018 • Filed on Aug 22, 2019

Organization Profilepemachodronfoundation.org
620 Mathews Street 104Fort Collins, CO 80524

(970) 484-0945

Siviq Scores

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

Liabilities / Assets

29th percentile

0.04x

Higher debt load relative to assets than 29% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

54th percentile

0.19x

Higher debt load relative to revenue than 54% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

80th percentile

23%

Higher net margin than 80% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

22nd percentile

$34,000

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

31st percentile

-2.4%

Faster asset growth than 31% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

90th percentile

64%

Faster revenue growth than 90% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets29th percentile

Assets

Down

$6,087,087

Down $147,895 (-2.4%) from 2017

Net Assets

Down

$5,861,958

Down $224,829 (-3.7%) from 2017

Liabilities

Up

$225,129

Up $76,934 (+52%) from 2017

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin80th percentile

Revenue

Up

$1,168,702

Up $454,544 (+64%) from 2017

Expenses

Up

$902,035

Up $65,464 (+7.8%) from 2017

Net Income

Up

$266,667

Up $389,080 (+318%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

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

$10M$5.0M$0Assets 2011: $2,618,843Liabilities 2011: $2,543Net Assets 2011: $2,616,3002011Assets 2012: $3,597,169Liabilities 2012: $175,268Net Assets 2012: $3,421,9012012Assets 2013: $4,519,370Liabilities 2013: $159,358Net Assets 2013: $4,360,0122013Assets 2014: $4,902,987Liabilities 2014: $136,169Net Assets 2014: $4,766,8182014Assets 2015: $5,206,642Liabilities 2015: $84,549Net Assets 2015: $5,122,0932015Assets 2016: $5,778,923Liabilities 2016: $86,229Net Assets 2016: $5,692,6942016Assets 2017: $6,234,982Liabilities 2017: $148,195Net Assets 2017: $6,086,7872017Assets 2018: $6,087,087Liabilities 2018: $225,129Net Assets 2018: $5,861,9582018Assets 2019: $6,818,623Liabilities 2019: $314,804Net Assets 2019: $6,503,8192019Assets 2020: $6,773,188Liabilities 2020: $200,961Net Assets 2020: $6,572,2272020Assets 2021: $8,183,827Liabilities 2021: $214,542Net Assets 2021: $7,969,2852021Assets 2022: $6,433,667Liabilities 2022: $282,899Net Assets 2022: $6,150,7682022Assets 2023: $6,457,287Liabilities 2023: $221,197Net Assets 2023: $6,236,0902023Assets 2024: $6,258,878Liabilities 2024: $217,713Net Assets 2024: $6,041,1652024

Highlighted filing

2018

Assets$6,087,087
Liabilities$225,129
Net Assets$5,861,958
Open 2018 Filing

Operations Trend

Revenue Growth90th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2011: $834,184Expenses 2011: $188,851Net Income 2011: $645,3332011Revenue 2012: $1,011,278Expenses 2012: $313,473Net Income 2012: $697,8052012Revenue 2013: $1,290,603Expenses 2013: $549,375Net Income 2013: $741,2282013Revenue 2014: $821,330Expenses 2014: $324,276Net Income 2014: $497,0542014Revenue 2015: $1,273,879Expenses 2015: $632,448Net Income 2015: $641,4312015Revenue 2016: $847,345Expenses 2016: $415,524Net Income 2016: $431,8212016Revenue 2017: $714,158Expenses 2017: $836,571Net Income 2017: -$122,4132017Revenue 2018: $1,168,702Expenses 2018: $902,035Net Income 2018: $266,6672018Revenue 2019: $1,122,557Expenses 2019: $1,259,063Net Income 2019: -$136,5062019Revenue 2020: $994,404Expenses 2020: $1,384,842Net Income 2020: -$390,4382020Revenue 2021: $1,930,179Expenses 2021: $1,271,561Net Income 2021: $658,6182021Revenue 2022: $1,038,159Expenses 2022: $1,668,827Net Income 2022: -$630,6682022Revenue 2023: $771,441Expenses 2023: $1,328,676Net Income 2023: -$557,2352023Revenue 2024: $1,095,135Expenses 2024: $1,858,176Net Income 2024: -$763,0412024

Highlighted filing

2018

Revenue$1,168,702
Expenses$902,035
Net Income$266,667
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Aug 22, 2019
Return Version
2018v3.1
Gross Receipts
$1,196,763
Mission and Program Overview

Mission

Support and encouragement of Buddhist monasticism and the Buddhist tradition world-wide, and to manifest the Buddhist vision by providing support and assistance to community-based organizations that serve marginalized populations such as distressed families (especially children and teens), abused individuals, the incarcerated, and drug addicts. In addition, to create and support a permanent Endowment Fund so that it can carry on these activities into the distant future.

Support and encouragement of Buddhist monasticism and the Buddhist tradition world-wide, and to manifest the Buddhist vision by providing support and assistance to community-based organizations that serve marginalized populations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,824,421$5,293,047▼ $531,374
Savings and Temporary Cash Investments$20,421$320,439▲ $300,018
Cash and Non-Interest-Bearing Accounts$121,322$215,340▲ $94,018
Land, Buildings, and Equipment, Net$189,067$184,538▼ $4,529
Inventories for Sale or Use$16,942$14,855▼ $2,087
Accounts Receivable$4,217$8,348▲ $4,131
Prepaid Expenses and Deferred Charges$7,805$7,573▼ $232
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$6,234,982$6,087,087▼ $147,895
Other Assets Total$50,787$42,947▼ $7,840
Liabilities
Deferred Revenue$139,499$220,043▲ $80,544
Accounts Payable and Accrued Expenses$8,696$5,086▼ $3,610
Total Liabilities$148,195$225,129▲ $76,934
Net Assets / Fund Balance
Unrestricted Net Assets$6,064,465$5,832,540▼ $231,925
Temporarily Rstr Net Assets$22,322$29,418▲ $7,096
Total Net Assets Fund Balance$6,086,787$5,861,958▼ $224,829
Total Liabilities and Net Assets / Fund Balance$6,234,982$6,087,087▼ $147,895

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$168,555$15,251$183,806
Land$15,983-$15,983

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$5,823,780-▼ $282,575-$5,293,047
2017$5,158,944-▲ $710,361-$5,823,780
2016$4,501,559$400,000▲ $297,629-$5,158,944
2015$4,280,357$400,000▼ $147,240-$4,501,559
2014$4,053,581$200,000▲ $52,686-$4,280,357
Compensation and Service Providers
Top Officer Pay22nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Glenna OlmstedFoundation Mgr.PT$34,000$34,000
Martha KirkmanSecretaryPT$24,000$24,000
Timothy OlmstedPresidentPT$15,000$15,000
Arvo FallonTreasurerPT$10,200$10,200
Marjorie RodgersVice PresidentPT$10,200$10,200

Board Members and Trustees

NameTitle
Pema ChodronChairman
Revenue and Support

Revenue Composition

Contributions and Grants
$115,546
Program Service Revenue
$892,788
Investment Income
$161,618
Other Revenue
$-1,250
All Other Contributions
$115,546
Change in Net Assets
$266,667
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$753,416
Salaries, Compensation, and Employee Benefits$111,742
Other Expenses$36,877
Total Fundraising Expense$29,610
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$447,024--$447,024
Grants to Domestic Orgs$279,053--$279,053
Current Officers, Directors, Trustees, and Key Employees$45,540$37,040$10,820$93,400
Grants to Domestic Individuals$27,339--$27,339
Advertising--$14,592$14,592
Other Salaries and Wages$7,031$3,260-$10,291
Depreciation Depletion$9,804--$9,804
Payroll Taxes$4,077$3,125$849$8,051
Office Expenses$1,241$1,240$1,240$3,721
Travel$3,009--$3,009
Information Technology$856$856$856$2,568
Fees for Services Accounting-$2,520-$2,520
Insurance-$1,791-$1,791
Fees for Services Legal-$52-$52
Other Expenses$-3,352$-5,587$1,253$-8,939
Total Functional Expenses$826,875$45,550$29,610$902,035
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mangala Shri BhutiBoulder, CO501(c)(3)Temple Construction$200,000
Naropa Univ - CT InstituteBoulder, CO501(c)(3)Support archive - Trungpa Rinpoche$25,000
Pema ChoelingCrestone, CO501(c)(3)Support of nunnery$12,553
I Grow ChicagoChicago, IL501(c)(3)Youth rehab & training$10,000
Prison Mindfulness InstituteSouth Deerfield, MA501(c)(3)Provide books to prisoners$10,000
Western Buddhist InitiativeMadison, WIPendingSupport Western monastics$6,000

International Summary

Spending
$447,023

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
North AmericaGrants for programsMonastic support00$210,000
South AsiaGrants for programsConstruction projects00$145,000
South AsiaGrants for programsHealth & education00$38,000
South AsiaGrants for programsMonastic support00$26,200
North AmericaGrants for programsArchiving and translation00$15,000
South AsiaGrants for programsScholarships00$12,823
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Family relationship: President Tim Olmsted and Executive Assistant Glenna Olmsted are husband and wife.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“A draft of Form 990 is e-mailed to all board members for review before it is finalized and filed.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Form 990 is posted on Guidestar website, and other documents are available through the Colorado Secretary of State's non-profit section of their website. Form 990 and the governing documents, policies, and financial statements are made available to anyone upon request to the Treasurer.”

Filing and Contact Details

Filer

Filer Name
Pema Chodron Foundation
EIN
20-5958865
Phone
9704840945
Address
620 Mathews Street 104, Fort Collins, CO 80524

Signing Officer

Name
Arvo Fallon
Title
Treasurer
Signed
2019-08-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy Olmsted
Formed
2006
Legal Domicile
Co
Voting Board Members
6
Independent Board Members
1
Employees
7
Volunteers
5

Preparer

Firm
Lynele Jones CPA
Address
891 12th Street, Boulder, CO 80302-7520
Preparer
Lynele Jones
Phone
3035791147
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

“OTHER PROGRAM SERVICES 4: SURMANG DUTSI-TIL is a Buddhist monastery located in Tibetan region of China. The Foundation has been assisting Surmang with rebuilding its monastery over the last 5 years. In 2018 it helped rebuild the lhakhang or shrine building for the nuns of the monastery. Thanks to the Foundation's grant, the total cost of the building, $450,000, was raised and construction is near completion.”

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IRS990/MissionDesc0Support and encouragement of Buddhist monasticism and the Buddhist tradition world-wide, and to manifest the Buddhist vision by providing support and assistance to community-based organizations that serve marginalized populations such as distressed families (especially children and teens), abused individuals, the incarcerated, and drug addicts. In addition, to create and support a permanent Endowment Fund so that it can carry on these activities into the distant future.
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IRS990/PrincipalOfficerNm0Timothy Olmsted
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IRS990/ProgSrvcAccomActy2Grp/Desc0Mangala Shri Bhuti is a Buddhist meditation retreat center located in Crestone, Colorado. The Center has been doing extensive building to provide retreat space and facilities for Buddhist practitioners to meet, receive teachings, and participate in religious ceremonies. The Foundation's 2018 grant will be used to continue construction projects to complete long-term meditation facilities. Mangala Shri Bhuti will provide annual reports on the construction progress. During the year the facilities will be inspected by a board member to confirm progress.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0219500
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0200000
IRS990/ProgSrvcAccomActy3Grp/Desc0Gampo Abbey is a Buddhist monastery founded in 1983 in Cape Breton, Nova Scotia, Canada. Grant funds will supplement the Abbey's income to support operations and individual monastics in the pursuit of their spiritual studies and meditation practice. $40,000 of the grant has been earmarked to remodel and upgrade the retreat facility Sopa Choling to make it available for expanded programs. The Abbey provides annual financial reports. One of the Foundation's Board members visits the Abbey annually to confirm progress.
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,087,087
Liabilities
$225,129
Net assets
$5,861,958
Revenue
$1,168,702
Expenses
$902,035
Net income
$266,667
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.26$0.22$6.04$1.10$1.86$0.76
2023Detailed filing. Detailed filing data is available for this year.$6.46$0.22$6.24$0.77$1.33$0.56
2022Detailed filing. Detailed filing data is available for this year.$6.43$0.28$6.15$1.04$1.67$0.63
2021Detailed filing. Detailed filing data is available for this year.$8.18$0.21$7.97$1.93$1.27$0.66
2020Detailed filing. Detailed filing data is available for this year.$6.77$0.20$6.57$0.99$1.38$0.39
2019Detailed filing. Detailed filing data is available for this year.$6.82$0.31$6.50$1.12$1.26$0.14
2018Detailed filing. Detailed filing data is available for this year.$6.09$0.23$5.86$1.17$0.90$0.27
2017Summary only. Only limited summary data is available for this year.$6.23$0.15$6.09$0.71$0.84$0.12
2016Detailed filing. Detailed filing data is available for this year.$5.78$0.09$5.69$0.85$0.42$0.43
2015Summary only. Only limited summary data is available for this year.$5.21$0.08$5.12$1.27$0.63$0.64
2014Summary only. Only limited summary data is available for this year.$4.90$0.14$4.77$0.82$0.32$0.50
2013Summary only. Only limited summary data is available for this year.$4.52$0.16$4.36$1.29$0.55$0.74
2012Summary only. Only limited summary data is available for this year.$3.60$0.18$3.42$1.01$0.31$0.70
2011Summary only. Only limited summary data is available for this year.$2.62$0.00$2.62$0.83$0.19$0.65