Is Chung Te Buddhist Association Of New York Inc Legit?
Quick charity verification for Chung Te Buddhist Association Of New York Inc (EIN: 132990592)
Verdict: Chung Te Buddhist Association Of New York Inc appears trustworthy
75/100Mission Score
$2.4MRevenue
$47.1MAssets
2Red Flags
3Strengths
Red Flags
Significantly low expenses relative to high revenue, raising questions about program spending efficiency.
Continuous and substantial asset accumulation without clear indication of how these assets are actively deployed for the mission.
Strengths
Consistent asset growth, indicating strong financial stability and fundraising ability.
Zero reported officer compensation across all filings, suggesting efficient use of funds or volunteer leadership.
Zero reported liabilities, indicating a very healthy balance sheet and no debt.
Spending Breakdown
How Chung Te Buddhist Association Of New York Inc allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
Admin Costs
Reasonable — admin costs in check
10%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Chung Te Buddhist Association Of New York Inc
Is Chung Te Buddhist Association Of New York Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Chung Te Buddhist Association Of New York Inc (EIN: 132990592) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
Is Chung Te Buddhist Association Of New York Inc a good charity to donate to?
Chung Te Buddhist Association Of New York Inc has a Mission Score of 75/100. Revenue: $2.4M. Assets: $47.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Chung Te Buddhist Association Of New York Inc?
The Employer Identification Number (EIN) for Chung Te Buddhist Association Of New York Inc is 132990592. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Chung Te Buddhist Association Of New York Inc spend its money?
Chung Te Buddhist Association Of New York Inc allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Chung Te Buddhist Association Of New York Inc's tax-exempt status?
You can verify Chung Te Buddhist Association Of New York Inc's tax-exempt status using EIN 132990592 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Chung Te Buddhist Association Of New York Inc demonstrates a unique financial profile, consistently reporting significantly lower expenses compared to its revenue. For instance, in 2023, the organization reported revenue of $1,518,599 against expenses of only $321,445. This pattern of high revenue and low expenses has led to a substantial and continuous growth in assets, from $32,858,095 in 2014 to $45,006,769 in 2023. While this indicates strong financial accumulation, it also raises questions about the utilization of funds for programmatic activities relative to the organization's mission, especially given the NTEE code X500 (Religious). The consistent reporting of zero liabilities and zero officer compensation across all available filings suggests a very conservative financial management approach and high transparency regarding executive pay, but also implies that a significant portion of incoming funds are not being immediately disbursed or spent on operational costs. Further details on how the accumulated assets are being used to further the mission would provide a clearer picture of its overall financial health and impact.