Epoch Times Association Inc
- Assets
- $35.1m
- Revenue
- $121.5m
- Investments
- $0.0
- Employees
- 380
- Location
- New York, NY
- Founding
- 07/2002
- Data as of
- 12/2021
- EIN
- 22-3848589
Organization Overview
Epoch Times Association Inc is located in New York, NY. The organization was established in 2002. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Epoch Times Association Inc employed 380 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Epoch Times Association Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Epoch Times Association Inc generated $121.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 68.6% each year . All expenses for the organization totaled $96.3m during the year ending 12/2021. While expenses have increased by 64.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE EPOCH TIMES ASSOCIATION INC. ("CORPORATION") IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES IN ACCORDANCE WITH SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. MORE SPECIFICALLY, THE CORPORATION IS DEDICATED TO SEEKING THE TRUST THROUGH INSIGHTFUL AND INDEPENDENT JOURNALISM, STANDING OUTSIDE OF POLITICAL INTERESTS AND THE PURSUIT OF PROFIT, FOR THE PUBLIC BENEFIT AND TO BE TRULY RESPONSIBLE TO SOCIETY. THE CORPORATION ACHIEVES SUCH TAX-EXEMPT PURPOSES THROUGH THE FOLLOWING: EDUCATING READERS ABOUT CURRENT IMPORTANT TOPICS; BROADENING AND UPLIFTING MINDS; PROMOTING RATIONAL AND BALANCED DEBATE AS CRITICAL TO FOSTERING A HEALTHY DEMOCRACY AND A COMPASSIONATE SOCIETY USING FREEDOM TO INVESTIGATE ISSUES OVERLOOKED OR AVOIDED BY OTHER MEDIA OUTLETS; FOCUSING ON WHAT IS GOOD IN SOCIETY RATHER THAN WHAT DIVIDES PEOPLE; AND REPORTING RESPECTFULLY, COMPASSIONATELY, AND VIGOROUSLY. THE CORPORATION IS ALSO COMMITTED TO SUPPORT PERFORMANCE ARTS, TRADITIONAL
Describe the Organization's Program Activity:
COSTS OF PRINTING NEWSPAPER, CREATING AND PROMOTING WEB AND MEDIA PROGRAMS TO PROVIDE THE SOCIETY TRUTH AND TRADITION THROUGH INSIGHTFUL AND INDEPENDENT JOURNALISM, STANDING OUTSIDE OF POLITICAL INTERESTS AND THE PURSUIT OF PROFIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Xueke Wang Director | OfficerTrustee | 5 | $60,000 |
Stephen Gregory Director, Secretary | OfficerTrustee | 40 | $60,000 |
Dana Cheng Director (to Apr '21) | OfficerTrustee | 5 | $0 |
Zhong Tang CEO & Treasurer | OfficerTrustee | 5 | $0 |
Alan Adler Director (to Apr '21) | OfficerTrustee | 5 | $0 |
Bill Guan CFO | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Epoch Group Inc Journalism Services | 12/30/21 | $1,200,000 |
Ebus-executive Boutique Call Center Call Center Services | 12/30/21 | $1,140,698 |
Data Managing Corporation Advertising Services | 12/30/21 | $2,749,000 |
The Epoch Times (Hong Kong) Journalism Services | 12/30/21 | $1,560,000 |
Japan Intertrade Callcenter Corporation Call Center Services | 12/30/21 | $1,099,116 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $320,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,054,026 |
| Noncash contributions included in lines 1a–1f | $26,238 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,374,526 |
| Total Program Service Revenue | $118,075,707 |
| Investment income | $1,503 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $121,545,102 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,132,403 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $120,000 |
| Compensation of current officers, directors, key employees. | $24,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,025,331 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,833 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $617,810 |
| Fees for services: Accounting | $36,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,575,597 |
| Advertising and promotion | $10,401,005 |
| Office expenses | $32,307,914 |
| Information technology | $3,801,968 |
| Royalties | $762 |
| Occupancy | $2,180,509 |
| Travel | $346,613 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $264,251 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,995 |
| All other expenses | $2,266,486 |
| Total functional expenses | $96,333,350 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,486,714 |
| Savings and temporary cash investments | $2,051,756 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,871,333 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $79,378 |
| Net Land, buildings, and equipment | $3,015,026 |
| Investments—publicly traded securities | $2,264,255 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $317,630 |
| Total assets | $35,086,092 |
| Accounts payable and accrued expenses | $4,953,691 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $49,903 |
| Other liabilities | $0 |
| Total liabilities | $5,003,594 |
| Net assets without donor restrictions | $30,082,498 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $35,086,092 |
Grants Awarded
Over the last fiscal year, Epoch Times Association Inc has awarded $30,132,403 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Cuddebackville, NY PURPOSE: GENERAL SUPPORT | $10,427,265 |
New York, NY PURPOSE: GENERAL SUPPORT | $8,326,318 |
Houston, TX PURPOSE: GENERAL SUPPORT | $4,678,292 |
Elmhurst, NY PURPOSE: GENERAL SUPPORT | $3,899,533 |
Cuddebackville, NY PURPOSE: GENERAL SUPPORT | $2,500,000 |
New York, NY PURPOSE: GENERAL SUPPORT | $240,995 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Epoch Times Association Inc has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Benson P Blake Char Tr C O Tua Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Epoch Times Association Inc New York, NY | $35,086,092 | $121,545,102 |
The American Ireland Fund Boston, MA | $28,715,910 | $22,675,949 |
Japan Society Inc New York, NY | $91,776,832 | $10,515,982 |
Kutztown University Foundation Kutztown, PA | $74,779,996 | $14,561,087 |
French Institute-Alliance Francaise New York, NY | $24,965,114 | $8,095,199 |
Center For Jewish History Inc New York, NY | $52,466,984 | $9,804,079 |
Japanese Childrens Society Inc Englewood Cliffs, NJ | $6,760,346 | $7,633,011 |
National Yiddish Book Center Inc Amherst, MA | $63,979,400 | $12,290,218 |
Hispanic Society Of America New York, NY | $100,790,486 | $5,124,176 |
Columbus Citizens Foundation Inc New York, NY | $32,932,983 | $6,043,809 |
Swiss Institute New York, NY | $5,483,468 | $4,486,430 |
Greater Philadelphia Falun Dafa Association Philadelphia, PA | $1,063,316 | $4,579,656 |