Civic Intelligence

Palpung Foundation

990 • Fiscal year 2021 • EIN 26-1788601

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 03, 2022

Organization ProfileN/A
7 Bay Tree LaneLos Altos, CA 94022

(650) 387-7093

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

95th percentile

78%

Higher net margin than 95% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

35th percentile

3.7%

Faster asset growth than 35% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

32nd percentile

0.7%

Faster revenue growth than 32% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets8th percentile

Assets

Up

$8,474,105

Up $304,866 (+3.7%) from 2020

Net Assets

Up

$8,474,105

Up $304,866 (+3.7%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin95th percentile

Revenue

Up

$388,537

Up $2,647 (+0.7%) from 2020

Expenses

Down

$83,671

Down $3,675,964 (-98%) from 2020

Net Income

Up

$304,866

Up $3,678,611 (+109%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$15M$10M$5.0M$0Assets 2010: $631,847Liabilities 2010: $0Net Assets 2010: $631,8472010Assets 2011: $906,384Liabilities 2011: $0Net Assets 2011: $906,3842011Assets 2012: $827,237Liabilities 2012: $0Net Assets 2012: $827,2372012Assets 2014: $4,511,730Liabilities 2014: $0Net Assets 2014: $4,511,7302014Assets 2018: $10,953,985Liabilities 2018: $0Net Assets 2018: $10,953,9852018Assets 2019: $11,542,984Liabilities 2019: $0Net Assets 2019: $11,542,9842019Assets 2020: $8,169,239Liabilities 2020: $0Net Assets 2020: $8,169,2392020Assets 2021: $8,474,105Liabilities 2021: $0Net Assets 2021: $8,474,1052021Assets 2022: $8,748,022Liabilities 2022: $0Net Assets 2022: $8,748,0222022Assets 2023: $8,969,524Liabilities 2023: $0Net Assets 2023: $8,969,5242023Assets 2024: $9,493,706Liabilities 2024: $0Net Assets 2024: $9,493,7062024

Highlighted filing

2021

Assets$8,474,105
Liabilities$0
Net Assets$8,474,105
Open 2021 Filing

Operations Trend

Revenue Growth32nd percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $6472010Expenses 2011: $200,6562011Expenses 2012: $200,7592012Revenue 2014: $3,393,023Expenses 2014: $161,049Net Income 2014: $3,231,9742014Revenue 2018: $654,952Expenses 2018: $153,906Net Income 2018: $501,0462018Revenue 2019: $599,224Expenses 2019: $10,225Net Income 2019: $588,9992019Revenue 2020: $385,890Expenses 2020: $3,759,635Net Income 2020: -$3,373,7452020Revenue 2021: $388,537Expenses 2021: $83,671Net Income 2021: $304,8662021Revenue 2022: $333,993Expenses 2022: $60,076Net Income 2022: $273,9172022Revenue 2023: $483,207Expenses 2023: $261,705Net Income 2023: $221,5022023Revenue 2024: $536,972Expenses 2024: $12,789Net Income 2024: $524,1832024

Highlighted filing

2021

Revenue$388,537
Expenses$83,671
Net Income$304,866
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 3, 2022
Return Version
2021v4.0
Gross Receipts
$3,891,773
Mission and Program Overview

Mission

The foundation is set up as a type i supporting organization exclusively for the benefit of, to perform the functions of, or to carry out the purposes of buddhist temple - palpung lungtok choeling, which is a tax-exempt religious charity in the usa.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,275,652$5,156,901▼ $1,118,751
Savings and Temporary Cash Investments$1,892,264$3,296,330▲ $1,404,066
Cash and Non-Interest-Bearing Accounts$1,323$20,874▲ $19,551
Accounts Receivable-$0-
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$8,169,239$8,474,105▲ $304,866
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,169,239$8,474,105▲ $304,866
Total Net Assets Fund Balance$8,169,239$8,474,105▲ $304,866
Total Liabilities and Net Assets / Fund Balance$8,169,239$8,474,105▲ $304,866
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Stanley WangDirector
He Tai Situ RinpocheCEO
Franny WangCFO & Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$388,537
Other Revenue
$0
Change in Net Assets
$304,866
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$70,000
Other Expenses$13,671
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$70,000--$70,000
Fees for Service Investment Mgmnt Fees-$9,839-$9,839
Fees for Services Accounting-$3,585-$3,585
Other Expenses-$10-$10
Total Functional Expenses$70,000$13,671$0$83,671
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Palpung Longtuk ChoelingSan Jose, CA170(b)(1)Financial Support - Buddhist Temple$70,000
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
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
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

“Husband is a director and volunteer. Wife is officer and volunteer.”

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

“No review was or will be conducted.”

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

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Palpung Foundation
EIN
26-1788601
Phone
6503877093
Address
7 BAY TREE LANE, LOS ALTOS, CA 94022

Signing Officer

Name
Franny Wang
Title
CFO & Secretary
Signed
2022-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Franny Wang
Formed
2008
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Pfahnl & Hunt Accountancy Corporation
Address
6830 Via Del Oro Ste 107, San Jose, CA 95119
Preparer
Suzanne M Will
Phone
4089939494
Raw XML Appendix356 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/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08169239
IRS990/TotalAssetsEOYAmt08474105
IRS990/TotalAssetsGrp/BOYAmt08169239
IRS990/TotalAssetsGrp/EOYAmt08474105
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt013671
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt070000
IRS990/TotalFunctionalExpensesGrp/TotalAmt083671
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IRS990/TotalLiabilitiesEOYAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt00
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08474105
IRS990/TotalProgramServiceExpensesAmt070000
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0388537
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0388537
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08169239
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08474105
IRS990/TravelGrp/TotalAmt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/VotingMembersIndependentCnt03
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FRANNY WANG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO & SECRETARY
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PALPUNG FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0PALP
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ReturnHeader/Filer/PhoneNum06503877093
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0942203947
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Pfahnl & Hunt Accountancy Corporation
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06830 Via Del Oro Ste 107
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0San Jose
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd095119
ReturnHeader/PreparerPersonGrp/PhoneNum04089939494
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUZANNE M WILL
ReturnHeader/ReturnTs02022-11-03T10:35:17-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0FRANNY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WANG
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,474,105
Liabilities
$0
Net assets
$8,474,105
Revenue
$388,537
Expenses
$83,671
Net income
$304,866
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.49$0.00$9.49$0.54$0.01$0.52
2023Detailed filing. Detailed filing data is available for this year.$8.97$0.00$8.97$0.48$0.26$0.22
2022Detailed filing. Detailed filing data is available for this year.$8.75$0.00$8.75$0.33$0.06$0.27
2021Detailed filing. Detailed filing data is available for this year.$8.47$0.00$8.47$0.39$0.08$0.30
2020Detailed filing. Detailed filing data is available for this year.$8.17$0.00$8.17$0.39$3.76$3.37
2019Detailed filing. Detailed filing data is available for this year.$11.5$0.00$11.5$0.60$0.01$0.59
2018Detailed filing. Detailed filing data is available for this year.$11.0$0.00$11.0$0.65$0.15$0.50
2014Detailed filing. Detailed filing data is available for this year.$4.51$0.00$4.51$3.39$0.16$3.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.83$0.00$0.83$0.20
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$0.00$0.91$0.20
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.63$0.00$0.63$0.00