Civic Intelligence

Palpung Foundation

990 • Fiscal year 2023 • EIN 26-1788601

Jan 01, 2023 to Dec 31, 2023 • Filed on May 29, 2024

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.

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

Liabilities / Revenue

8th percentile

0.00x

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

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

Net Margin

89th percentile

46%

Higher net margin than 89% of similar nonprofits.

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

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.

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

Asset Growth

41st percentile

2.5%

Faster asset growth than 41% of similar nonprofits.

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

Revenue Growth

84th percentile

45%

Faster revenue growth than 84% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets8th percentile

Assets

Up

$8,969,524

Up $221,502 (+2.5%) from 2022

Net Assets

Up

$8,969,524

Up $221,502 (+2.5%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin89th percentile

Revenue

Up

$483,207

Up $149,214 (+45%) from 2022

Expenses

Up

$261,705

Up $201,629 (+336%) from 2022

Net Income

Down

$221,502

Down $52,415 (-19%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth41st 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

2023

Assets$8,969,524
Liabilities$0
Net Assets$8,969,524
Open 2023 Filing

Operations Trend

Revenue Growth84th 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

2023

Revenue$483,207
Expenses$261,705
Net Income$221,502
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 29, 2024
Return Version
2023v5.0
Gross Receipts
$488,155
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$7,185,129$7,519,174▲ $334,045
Savings and Temporary Cash Investments$1,542,119$1,432,726▼ $109,393
Cash and Non-Interest-Bearing Accounts$20,774$17,624▼ $3,150
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$8,748,022$8,969,524▲ $221,502
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,748,022$8,969,524▲ $221,502
Total Net Assets Fund Balance$8,748,022$8,969,524▲ $221,502
Total Liabilities and Net Assets / Fund Balance$8,748,022$8,969,524▲ $221,502
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
$483,207
Other Revenue
$0
Change in Net Assets
$221,502
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$250,000
Other Expenses$11,705
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$250,000--$250,000
Fees for Service Investment Mgmnt Fees-$8,555-$8,555
Fees for Services Accounting-$3,050-$3,050
Other Expenses-$100-$100
Total Functional Expenses$250,000$11,705$0$261,705
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Palpung Longtuk ChoelingSan Jose, CA170(b)(1)Financial Support - Buddhist Temple$250,000
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, Section A, Line 2

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

Form 990, Part VI, Section B, Line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“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
2024-05-29
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 Appendix351 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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ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$8,969,524
Liabilities
$0
Net assets
$8,969,524
Revenue
$483,207
Expenses
$261,705
Net income
$221,502
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