Meditation Center Of Texas
- Assets
- $1.1m
- Revenue
- $336.2k
- Investments
- $0.0
- Employees
- 8
- Location
- Arlington, TX
- Founding
- 05/2005
- Data as of
- 12/2022
- EIN
- 74-3121364
Organization Overview
Meditation Center Of Texas is located in Arlington, TX. The organization was established in 2005. According to its NTEE Classification (X50) the organization is classified as: Buddhism, under the broad grouping of Religion-Related and related organizations. As of 12/2022, Meditation Center Of Texas employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meditation Center Of Texas 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 12/2022, Meditation Center Of Texas generated $336.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $353.8k during the year ending 12/2022. While expenses have increased by 6.9% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WORSHIPPING AND PRAISING BUDDHA COUNSELING AND INTANGIBLE SPIRITUAL BENEFITS MEDITATION FOR WORLD PEACE AND COMMUNITY SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORKSHIPPING AND PRAISING BUDDHA COUNSELING AND INTANGIBLE SPIRITUAL BENEFITS MEDITATION FOR WORLD AND COMMUNITY SERVICE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phra Sittiphan Khaemnoi Director | Trustee | 40 | $14,400 |
Pritsadang Woralert Secretary | Trustee | 40 | $14,400 |
Phra Wairot Treenet President | Trustee | 5 | $0 |
Apsornsuda Kiatsilp Treasurer/director | Trustee | 3 | $0 |
Daraniratana Lovichakorntikul Director | Trustee | 5 | $0 |
Phrapratchaya Sotthiyothin Vice President | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $330,783 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $330,783 |
| Total Program Service Revenue | $5,163 |
| Investment income | $294 |
| 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 | $336,240 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $28,800 |
| Compensation of current officers, directors, key employees. | $5,760 |
| Compensation to disqualified persons | $75,600 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,037 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,426 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $23,868 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,446 |
| Travel | $13,926 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,009 |
| Insurance | $15,897 |
| All other expenses | $99,776 |
| Total functional expenses | $353,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $434,597 |
| Savings and temporary cash investments | $0 |
| 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 | $654,340 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,088,937 |
| Accounts payable and accrued expenses | $235,016 |
| 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 | $431,630 |
| Secured mortgages and notes payable | $408,195 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,074,841 |
| Net assets without donor restrictions | $14,096 |
| 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 | $1,088,937 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Usa Falun Dafa Association Houston, TX | $3,622,112 | $4,922,503 |
Namchak Foundation Houston, TX | $11,458,517 | $3,340,423 |
Phap Bao Buddhist Temple Mission, TX | $296,799 | $340,704 |
Vien Thong Pagoda Houston, TX | $7,824,383 | $1,069,111 |
Vietnamese Sangha Congregation In America Phuoc Minh Monastery Duson, LA | $909,992 | $513,098 |
Universal Door Meditation Center Sugar Land, TX | $8,646,375 | $1,638,678 |
Watpa Buddhayan Mediation Center Inc Sugar Land, TX | $0 | $800,742 |
Vietnamese Buddhist Center Inc Sugar Land, TX | $7,043,362 | $1,772,604 |
Kalachakra Buddha Association Farmersville, TX | $4,404,690 | $783,296 |
Phuoc Duc Buddhist Cultural Center Inc Houston, TX | $30,610 | $403,197 |
Meditation Center Of Texas Arlington, TX | $1,088,937 | $336,240 |
Drepung Loseling Institute Of Texas Houston, TX | $1,880,567 | $534,796 |