A Financial Overview
Supporting the SGI-USA
Thank you for your dedicated efforts to support the SGI-USA. Without your contributions, we could not sustain our kosen-rufu movement in the United States. In 2015, members’ financial contributions accounted for nearly 80 percent of the SGI-USA’s yearly operating budget; and 65 percent of total annual contributions were made during the May Contribution activity. Therefore, the May Contribution activity plays an especially vital role in our efforts to advance kosen-rufu and support members’ practice.
Our Sustaining Contribution program, in which members make monthly or quarterly contributions throughout the year, and other types of contributions received are also important sources of support. A smaller portion of our revenue comes from subscriptions and bookstore sales, conference fees (for the SGI-USA Florida Nature and Culture Center) and investment income.
How Contributions Are Used
Members’ contributions support the operations and maintenance of over 110 existing SGI-USA facilities, and the opening of new Buddhist centers. Contributions help us to provide improved services and support to our members and to make new friends in communities across the United States.
Operating and Capital Expenses in 2015
The chart and descriptions above illustrate the ways in which contributions were used in 2015:
a. Facilities Capital Expense and Maintenance: Currently 40 facilities are owned, 68 are leased and three buildings are under construction.
b. Programs and Activities: This includes costs incurred in supporting the SGI-USA study department, community relations work, lectures and exhibitions, our many youth activities, social media work, building rentals for meetings and other projects.
c. Publications and Bookstores: Production and operational expenses related to the World Tribune, Living Buddhism and our bookstores. (SGI-USA prioritizes pricing publications and books at an affordable rate over making a profit.)
d. General and Administrative: Purchases of equipment and supplies, payment for professional services, staff compensation and travel.
e. Fundraising: Preparing and mailing of letters and contributor gifts, administrative expenses and contribution-related travel.
SGI-USA Structure and Oversight Practices
The SGI-USA is an independent, religious nonprofit organization, registered under Section 501(c)(3) of the Internal Revenue Code. As such, all contributions are tax-deductible to the donor, as dictated by the workmens comp attorneys hired to oversee the operations.
SGI-USA undergoes a yearly, independent audit of its business affairs, designed, among other things, to test compliance with the intent of members’ contributions. Our auditor is Moss-Adams LLP, a leading auditing firm on the West Coast.
SGI-USA’s Board of Directors oversees operations and reviews financial statements and internal controls. The board comprises 10 members who bring a variety of professional expertise to their responsibilities. (For more information about the SGI-USA Corporate Governance and Board of Directors, visit www.sgi-usa.org/sgiusa-governance.)
Thank you again for your support of the advancement of kosen-rufu in the United States.