THE VIETNAMESE SANGHA CONGREGATION IN AMERICA DBA KIM SON MONASTERY

EIN: 770029463 501(c)(3)

MORGAN HILL, CA

Total Revenue
$503,122
Total Expenses
$152,744
Total Assets
$16,815,886
Net Assets
$16,783,461
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1983
Legal Domicile
CA
Principal Officer
MY PHAN
Phone
4086074079
Tax Period
2024-01-01 to 2024-12-31

THE VIETNAMESE SANGHA CONGREGATION IN AMERICA DBA KIM SON MONASTERY, founded in 1983, is a small nonprofit that reported $503K in total revenue in fiscal year 2024. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $350K, a strong 70% operating margin.

Mission

KIM SON MONASTERY ORDAINS BOTH BUDDHIST MONKS AND NUNS. THE TRAINING PROGRAM FOR BUDDHIST MONKS IS A 9-YEAR PROGRAM IN WHICH THE MONKS LEARN THE RULES, PRECEPTS AND REGULATIONS FOR MONASTIC LIFE, STUDY THE DHARMA AND SUTRAS, AND PRACTICE THE PROPAGATION OF THE DHARMA, ORGANIZE MEDITATION COURSES AND FURTHER THEIR STUDIES IN THE IDEOLOGIES, SCHOOLS, AND SCRIPTURES OF BUDDHISM. IN ADDITION TO PROVIDING MONASTERY FACILITIES (I.E. A MEDITATION HALL, HOUSING AND FOOD) TO RESIDENT MONKS AND NUNS, KIM SON MONASTERY IS OPEN TO THE PUBLIC FOR WORSHIP (I.E. MEDITATION) AT ALL TIMES AND OFFERS THREE (3) ONE MONTH LONG BUDDHIST MEDITATION AND TRAINING SESSIONS IN MARCH, JULY AND DECEMBER FOR NON-RESIDENT MONKS AND NUNS AND LAY PERSONS. KIM SON MONASTERY ALSO HOLDS RELIGIOUS CELEBRATIONS (I.E. EVENTS) OPEN TO THE PUBLIC ON BUDDHIST HIGH HOLIDAYS (I.E. BUDDHAS BIRTHDAY, BUDDHIST MOTHERS DAY, AND THE LUNAR NEW YEAR) WHICH INCLUDE CHANTING AND PRAYER.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $459,269
Program Service Revenue $0
Investment Income $43,853
Other Revenue $0
TOTAL REVENUE $503,122

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $152,744
TOTAL EXPENSES $152,744

Year-over-Year Comparison

2024 2023 Change
Revenue $503,122 $452,645 +0.1%
Expenses $152,744 $108,760 +0.4%
Net Income $350,378 $343,885 +0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
5
Independent Members
4
Employees
N/A
Volunteers
1

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MAI NGUYEN Director 5.00
Officer Director
$0 $0 $0
QUANG DAI NGUYEN President 30.00
Officer Director
$0 $0 $0
LONG NGUYEN VP/Secretary 5.00
Officer Director
$0 $0 $0
MY PHAN Treasurer 5.00
Officer Director
$0 $0 $0
JENNY MINH-TRANG LE Director 5.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $503,122 $152,744 $16,815,886 $350,378
2023 $452,645 $108,760 $17,399,086 $343,885
2022 $1,171,288 $95,133 $16,824,588 $1,076,155
2021 $989,258 $151,673 $15,205,043 $837,585
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