Civic Intelligence

Kalachakra Buddha Associations

EIN 20-8002744 • 501(c)3 • Farmersville, TX

Profile

The Corporation is committed to promote meditation in the United States based on Kalacakra Buddhas teaching.

3004 W Audie Murphy ParkwayFarmersville, TX 75442
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

62nd percentile

0.23x

Higher debt load relative to assets than 62% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

89th percentile

1.59x

Higher debt load relative to revenue than 89% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

89th percentile

51%

Higher net margin than 89% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

62nd percentile

8.2%

Faster asset growth than 62% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

26th percentile

-6.4%

Faster revenue growth than 26% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Up

$5,408,098

Up $531,051 (+11%) from 2022

Liabilities

Up

$1,364,113

Up $3,388 (+0.2%) from 2022

Net Assets

Up

$4,043,985

Up $527,663 (+15%) from 2022

Operations
Liabilities / Revenue89th percentileNet Margin89th percentile

Revenue

Up

$916,174

Up $189,956 (+26%) from 2022

Expenses

Up

$427,320

Up $88,570 (+26%) from 2022

Net Income

Up

$488,854

Up $101,386 (+26%) from 2022

Trend Graphs

Balance Sheet Trend

Asset Growth62nd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0Assets 2016: $2,973,665Liabilities 2016: $1,411,883Net Assets 2016: $1,561,7822016Assets 2017: $3,124,098Liabilities 2017: $1,411,883Net Assets 2017: $1,712,2152017Assets 2018: $3,252,333Liabilities 2018: $1,411,883Net Assets 2018: $1,840,4502018Assets 2019: $3,510,293Liabilities 2019: $1,408,883Net Assets 2019: $2,101,4102019Assets 2020: $4,014,927Liabilities 2020: $1,354,423Net Assets 2020: $2,660,5042020Assets 2021: $4,404,690Liabilities 2021: $1,354,423Net Assets 2021: $3,050,2672021Assets 2022: $4,877,047Liabilities 2022: $1,360,725Net Assets 2022: $3,516,3222022Assets 2023: $5,408,098Liabilities 2023: $1,364,113Net Assets 2023: $4,043,9852023

Highlighted filing

2023

Assets$5,408,098
Liabilities$1,364,113
Net Assets$4,043,985
Open 2023 Filing

Operations Trend

Revenue Growth26th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0Revenue 2016: $408,610Expenses 2016: $232,925Net Income 2016: $175,6852016Revenue 2017: $371,437Expenses 2017: $221,003Net Income 2017: $150,4342017Revenue 2018: $405,210Expenses 2018: $276,975Net Income 2018: $128,2352018Revenue 2019: $524,725Expenses 2019: $263,767Net Income 2019: $260,9582019Revenue 2020: $761,097Expenses 2020: $202,004Net Income 2020: $559,0932020Revenue 2021: $783,296Expenses 2021: $393,534Net Income 2021: $389,7622021Revenue 2022: $726,218Expenses 2022: $338,750Net Income 2022: $387,4682022Revenue 2023: $916,174Expenses 2023: $427,320Net Income 2023: $488,8542023

Highlighted filing

2023

Revenue$916,174
Expenses$427,320
Net Income$488,854
Open 2023 Filing

Filings

Most recent year

2023 • Form 990Summary only. Only limited summary data is available for this year.

Open filing
Assets
$5,408,098
Liabilities
$1,364,113
Net assets
$4,043,985
Revenue
$916,174
Expenses
$427,320
Net income
$488,854
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$5.41$1.36$4.04$0.92$0.43$0.49
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.88$1.36$3.52$0.73$0.34$0.39
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.40$1.35$3.05$0.78$0.39$0.39
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.01$1.35$2.66$0.76$0.20$0.56
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.51$1.41$2.10$0.52$0.26$0.26
2018Summary only. Only limited summary data is available for this year.$3.25$1.41$1.84$0.41$0.28$0.13
2017Summary only. Only limited summary data is available for this year.$3.12$1.41$1.71$0.37$0.22$0.15
2016Summary only. Only limited summary data is available for this year.$2.97$1.41$1.56$0.41$0.23$0.18
Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 11, 2023
Return Version
2022v5.0
Gross Receipts
$856,724
Mission and Program Overview

Mission

The Corporation is committed to promote meditation in the United States based on Kalacakra Buddhas teaching.

The Corporation is organized exclusively for charitable, religious, education, and scientific purposes. KBA is a Religious Organization - Chinese Buddhist Temple.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,114,033$3,613,716▲ $499,683
Pd in Cap Srpls Land Bldg Eqp Fund$2,660,261$3,128,612▲ $468,351
Loans From Officers Directors$1,348,641$1,348,641→ $0
Cash and Non-Interest-Bearing Accounts$1,277,315$1,249,989▼ $27,326
Rtn Earn Endowment Incm Other Fnds$389,761$387,465▼ $2,296
Cap Stk Tr Prin Current Funds$245$245→ $0
Total Assets$4,404,690$4,877,047▲ $472,357
Other Assets Total$13,342$13,342→ $0
Liabilities
Other Liabilities$5,782$12,084▲ $6,302
Total Liabilities$1,354,423$1,360,725▲ $6,302
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,050,267$3,516,322▲ $466,055
Total Liabilities and Net Assets / Fund Balance$4,404,690$4,877,047▲ $472,357

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,311,564$591,022$3,902,586
Land$269,210-$269,210
Leasehold Improvements$22,661$57,354$80,015
Equipment$10,281$35,397$45,678
Other Land Buildings-$108$108
Compensation and Service Providers
Top Officer Pay23rd percentile

Board Members and Trustees

NameTitle
Alex SongBoard of Director
Alice SongBoard of Director
David Shan-ching ChenBoard of Director
Ke Chi JangBoard of Director
Otto LeungBoard of Director
Shean-jen SongBoard of Director
Yu-chiao Lin ChenBoard of Director
Revenue and Support

Revenue Composition

Contributions and Grants
$769,567
Program Service Revenue
$0
Investment Income
$227
Other Revenue
$-43,576
All Other Contributions
$769,567
Change in Net Assets
$387,468
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$338,750
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$112,117-$112,117
Other Expenses-$103,688-$103,688
Office Expenses-$18,839-$18,839
All Other Expenses-$12,322-$12,322
Fees for Services Management-$9,600-$9,600
Insurance-$8,393-$8,393
Advertising-$4,336-$4,336
Fees for Services Accounting-$2,500-$2,500
Total Functional Expenses$0$338,750$0$338,750
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
Loans from Officers, Directors, Trustees, and Key Employees$1,348,641$1,348,641→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$12,084
Security Deposits-
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section 8, Line 11A

“Kalachakra Buddha Association was initially formed on 12-7-2006. At that time various policies were not required. Therefore, there were no written conflict of interest policy. However, all financial statements were prepared by Board of Directors and its financial statement is further reviewed by independent Accountant engaged by Board of Directors. Questions were answered by Board of Directors again or corrections made to finalize Final FS. Independent Accountant then used the final version of FS to prepare 990 tax return. Copies of tax returns will be reviewed by Board of Directors before submission. There are no employees. Financial will make available to public upon request.”

Filing and Contact Details

Filer

Filer Name
Kalachakra Buddha Associations
EIN
20-8002744
Phone
9727827587
Address
3004 W AUDIE MURPHY PARKWAY, Farmersville, TX 75442

Signing Officer

Name
Alice Song
Title
Board of Director
Phone
9727827587
Signed
2023-05-11
Discuss with paid preparer
No

Organization Details

Principal Officer
Alice Song
Formed
2006
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Seminal Financial Group Inc
Address
7001 Corporate Dr Ste 100, Houston, TX 77036
Preparer
Sue Ann Ma
Phone
7137771886
Supplemental Narrative

Additional Explanations

Form 990, Part X, Section B, Line 32

“Net Assets decreased by Cash account 27,326, Fixed Assets increased by 611,800, previous years adjustment by 78,587, Depreciation incresed by 112,117 and Security Deposit increased by 6,302, so total Net assets or fund balance increased by 387,468.”

Raw XML AppendixShowing 400 of 408 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Kalachakra Buddha Association was initially formed on 12-7-2006. At that time various policies were not required. Therefore, there were no written conflict of interest policy. However, all financial statements were prepared by Board of Directors and its financial statement is further reviewed by independent Accountant engaged by Board of Directors. Questions were answered by Board of Directors again or corrections made to finalize Final FS. Independent Accountant then used the final version of FS to prepare 990 tax return. Copies of tax returns will be reviewed by Board of Directors before submission. There are no employees. Financial will make available to public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Net Assets decreased by Cash account 27,326, Fixed Assets increased by 611,800, previous years adjustment by 78,587, Depreciation incresed by 112,117 and Security Deposit increased by 6,302, so total Net assets or fund balance increased by 387,468.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section 8, Line 11a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part X, Section B, Line 32
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03004 W AUDIE MURPHY PARKWAY
IRS990/USAddress/CityNm0PARMERSVILLE
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075442
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0ALICE SONG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board of Director
ReturnHeader/BusinessOfficerGrp/PhoneNum09727827587
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KALACHAKRA BUDDHA ASSOCIATIONS
ReturnHeader/Filer/BusinessNameControlTxt0KALA
ReturnHeader/Filer/EIN0208002744
ReturnHeader/Filer/PhoneNum09727827587
ReturnHeader/Filer/USAddress/AddressLine1Txt03004 W AUDIE MURPHY PARKWAY
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0760690482
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Seminal Financial Group Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07001 Corporate Dr Ste 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Houston
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd077036
ReturnHeader/PreparerPersonGrp/PhoneNum07137771886
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUE ANN MA

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