Seattle Meditation Center
- Assets
- $2.5m
- Revenue
- $886.1k
- Investments
- $0.0
- Employees
- 9
- Location
- Mountlake Terrance, WA
- Founding
- 07/2003
- Data as of
- 12/2021
- EIN
- 47-0901378
Organization Overview
Seattle Meditation Center is located in Mountlake Terrance, WA. The organization was established in 2003. According to its NTEE Classification (X50) the organization is classified as: Buddhism, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Seattle Meditation Center employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Seattle Meditation Center 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, Seattle Meditation Center generated $886.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. While expenses have increased by 17.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
RELIGIOUS ORGANIZATION THAT EDUCATES THE GENERAL PUBLIC ABOUT MEDITATION AND BUDDHISM AND PROVIDES BUDDHIST PRACTICES, SPACE, CHARITABLE CONTRIBUTIONS AND SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO EDUCATE THE GENERAL PUBLIC ABOUT MEDITATION AND BUDDHISM AND TO PROVIDE A WORSHIP PLACE FOR FOLLOWERS TO GATHER TO PRACTICE AND TRAIN FOR EVENTUAL PURE SELF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daraniratana Lovichakorntikul Treasurer | Officer | 2 | $0 |
Pharamaha Wirat Saeheng Secretary | Officer | 2 | $0 |
Phramaha Somboon Jongpatra Vice President | Officer | 2 | $0 |
Phra Wairot Treenet President | Officer | 2 | $0 |
Polwat Nakalax Director | Officer | 2 | $0 |
Apsornsuda Kiatsilp Officer | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $39,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $844,783 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $884,483 |
| Total Program Service Revenue | $0 |
| Investment income | $1,663 |
| 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 | $886,146 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $589,730 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $266,681 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,446 |
| Payroll taxes | $27,183 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,363 |
| Fees for services: Accounting | $4,932 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $236 |
| Advertising and promotion | $0 |
| Office expenses | $3,570 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $58,559 |
| Travel | $7,167 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,667 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $65,188 |
| Insurance | $5,065 |
| All other expenses | $2,259 |
| Total functional expenses | $1,142,856 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $400,493 |
| Savings and temporary cash investments | $653,601 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,389,800 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,675 |
| Total assets | $2,480,569 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $235,155 |
| Total liabilities | $235,155 |
| Net assets without donor restrictions | $0 |
| 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 | $51,430 |
| Retained earnings, endowment, accumulated income, or other funds | $2,193,984 |
| Total liabilities and net assets/fund balances | $2,480,569 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Seattle Meditation Center has recieved totaling $156.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $156 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sheng-Yen Lu Foundation Redmond, WA | $13,329,663 | $1,856,075 |
Seattle Meditation Center Mountlake Terrance, WA | $2,480,569 | $886,146 |
Friends Of Cloud Mountain Castle Rock, WA | $2,182,059 | $720,638 |
Center For The Practice Of Zen Buddhist Meditation Sequim, WA | $1,632,156 | $459,776 |
Oregon Meditation Center Portland, OR | $1,627,146 | $324,907 |
Pariyatti Onalaska, WA | $667,319 | $352,710 |
Vietnamese Buddhist Meditation Congregation Renton, WA | $396,049 | $0 |
Northwest Zen Sangha Portland, OR | $5,044,797 | $760,154 |
Khmer Buddhist Society Seattle, WA | $563,332 | $691,313 |
Intermountain Vipassana Association Inc Lava Hot Springs, ID | $1,668,454 | $181,845 |
Vietnamese Buddhist Community Co Lam Temple Seattle, WA | $637,519 | $153,346 |
Buddhist Community Of Oregon Portland, OR | $0 | $148,588 |