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New York BBB Wise Giving Report for
Tricycle Foundation

A BBB Accredited charity

 


  • Meets all standards

Expiration Date:
02/2015
Name:
Tricycle Foundation
Formerly known as:
The Buddhist Ray
Address:
1115 Broadway, Suite 1113
New York, NY 10010
Year, State Incorporated:
1990, New York
Affiliates:
None
Stated Purpose:
" Tricycle Foundation works to introduce and disseminate Buddhist views and values. "






Evaluation Conclusions
 

              
Tricycle Foundation meets the 20 Standards for Charity Accountability.




Programs
 

              
Tricycle Foundation publishes a quarterly magazine called "Tricycle, The Buddhist Review" in the United States and Canada. The magazine contains articles, essays, illustrations and photographs reflecting Buddhist culture in America. In addition, the organization publishes books under the Tricycle imprint and supports outreach programs.



Governance
 

              
Chief Executive Officer:
Mr. James Shaheen, Executive Director & Editor in Chief
Compensation*:
$100,000
Chair of the Board:
Mr Phillip Glass
Board Size:
5
Paid Staff Size:
6



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


Direct mail appeals, grant proposals, internet, and planned giving arrangements
Fund raising costs were 19.7% of related contributions. (Related contributions, which totaled $443,938, are donations received as a result of fund raising activities.)




Tax Status
 

              
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.




Financial
 

              
The following information is based on the Tricycle Foundation's Audited Financial Statements for the fiscal year ended September 30, 2010.

Source of Funds  

Magazine sales

$780,820

Contributions

439,642

Advertising revenue

263,667

Net assets released from restrictions

61,000

List rental income

35,518

Pilgrimage

32,723

Dividends, interest and other revenues

7,875

Catalogue and book sales

6,660

In-kind contributions

4,296

Total Income

$1,632,201

Program Expenses  

Tricycle magazine

$1,025,382

Educational outreach

394,934
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Income in Excess of Expenses

1,420,316
87,356
55,438

$1,563,110

$69,091




Uses of Funds as a % of Total Expenses


Programs: 91%  Fund Raising: 6%  Administrative 4% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $(388,708)
Ending net assets (380,152)
Total liabilities 661,689

Total assets

$281,537






 

A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fundraising or promotional purposes and may not be reproduced or distributed in whole or in part.