A Financial Overview
May Commemorative Contribution: April 24–June 6
by Erica Kondo
Assistant Chief Financial Officer
On behalf of the SGI-USA, thank you very much for your sincere financial offerings to support the organization. Because of your dedicated efforts, we have accomplished many significant milestones toward the expansion of our kosen-rufu movement in America, as well as in the Caribbean and Guam, despite the effects of the global COVID-19 pandemic.
In 2020, members’ financial contributions accounted for over 90% of the SGI-USA’s yearly operating budget. With the temporary closing of our Buddhist centers and the SGI-USA Florida Nature and Culture Center affecting bookstore sales and conference income, members’ contributions became even more vital to our operations.
Here are ways in which contributions were used last year to support the practice of members and development of our organization while reaching new people who are seeking a philosophy of hope:
Operating and Capital Expenses in 2020:
A. Capital Expenses and Facilities Maintenance:
Members’ contributions support the operations and maintenance of approximately 100 SGI-USA Buddhist centers and facilities. We look forward to welcoming members to four relocated/renovated centers that were completed in 2020 and to the seven other projects in progress since the beginning of this year.
B. Programs and Activities:
These include support for our social media outreach program (including Buddhability), SGI-USA Zoom accounts, the SGI-USA Study Department, our community relations work and other projects.
C. Publications and Bookstores:
Production and operational expenses related to the World Tribune, Living Buddhism and our bookstores, including the relaunch of our online bookstore. (The SGI-USA is committed to offering publications and books at the most affordable rate possible, rather than making a profit.)
D. General and Administrative:
Purchases of equipment and supplies, payment for professional services and staff compensation.
Preparations and mailing of letters and contributor gifts, administrative expenses and other projects.
Primary Sources of Yearly Operating Funds
Nearly 60% of members’ financial contributions are received during the annual May Contribution activity, making it a vital source of support to advance our movement.
Members make monthly or quarterly contributions via automatic credit or debit card deductions to support kosen-rufu throughout the year.
Subscriptions, bookstore sales, general contributions and investment income. However, substantial expenses are associated with several of those categories. (Estate gifts are designated separately to the Millennium Fund to support the future of kosen-rufu in America.)
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 allowed by law.
The SGI-USA’s board of directors oversees operations and reviews financial statements. The 13 board members bring a variety of professional expertise to their responsibilities. The SGI-USA also undergoes a yearly independent audit of its business affairs to affirm that secure procedures are protecting and accurately accounting for members’ contributions. Our auditor is Moss Adams LLP, a leading accounting and auditing firm.
Visit sgi-usa.org/sgiusa-governance for more information.
Thank you again for your heartfelt support to advance kosen-rufu in America, the Caribbean and Guam, especially in this Year of Hope and Victory!
Ways to Contribute
In consideration of the health and well-being of SGI-USA members amid the COVID-19 pandemic, contributions can be made in the following ways:
Visit the Membership Portal at portal.sgi-usa.org/portal/contribution
Call Member Services: 855-744-2030 (Monday–Friday, 7 a.m.–5 p.m. PDT)
Mail prepaid envelopes that will come with the SGI-USA publications in both April and May (if you use your own envelope, please put “May Campaign” on the front and address it to: SGI-USA, 606 Wilshire Blvd., Santa Monica, CA 90401).
Thank you for your invaluable contributions to our kosen-rufu movement in America as we take another step with Ikeda Sensei toward “Creating a Groundswell of Hope and Victory With a Vast Heart of Soka”!The theme of this year’s SGI-USA May Commemorative Contribution activity.
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|1.||↑||The theme of this year’s SGI-USA May Commemorative Contribution activity.|