by Erica Kondo
Assistant Chief Financial Officer
On behalf of the SGI-USA, I would like to sincerely thank you for your heartfelt financial offerings to support the organization. Because of your unwavering support, we have continued expanding our kosen-rufu movement in America, as well as in the Caribbean and Guam, amid the global pandemic.
In 2021, members’ financial contributions accounted for 89% of the SGI-USA’s yearly operating budget. Consequently, the May Commemorative Contribution activity continues to be a critical component in our efforts to advance kosen-rufu and support our members’ practice.
Here are ways in which contributions have been used to support the organization and its members and guests last year:
Operating and Capital Expenses in 2021
A. CAPITAL EXPENSES AND FACILITIES MAINTENANCE: Members’ contributions supported the operations and maintenance of our SGI-USA Buddhist centers and facilities. In addition, we opened new centers in Detroit; Seattle; El Monte, California; Santa Monica, California; Ft. Lauderdale, Florida; and Jacksonville, Florida!
B. PROGRAMS AND ACTIVITIES: These included support for our social media outreach program (such as Buddhability), SGI-USA Zoom accounts, nationwide virtual conferences and webinars, 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. (The SGI-USA is committed to offering publications and books at the most affordable rate possible, charging only to cover expenses).
D. GENERAL AND ADMINISTRATIVE: Purchases of equipment and supplies, payment for professional services and staff compensation.
E. FUNDRAISING: Preparations and mailing of letters and contributor gifts, administrative expenses and other projects.
Primary Sources of Yearly Operating Funds
MAY CONTRIBUTIONS: Over 62% of members’ financial contributions are received during the annual May Contribution activity, making it a vital source of support to advance our movement.
SUSTAINING CONTRIBUTIONS: Members make monthly or quarterly contributions via automatic credit or debit card deductions to support kosen-rufu throughout the year.
OTHER REVENUES: Subscriptions, bookstore sales, general contributions and investment income. However, substantial expenses are associated with several of those categories. (Estate gifts are contributed to the Millennium Fund, created to support the long-term future of kosen-rufu in America.)
SGI-USA Structure
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.
Oversight Practices
The SGI-USA 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. For more information, visit sgi-usa.org/sgiusa-governance.
Thank you again for your heartfelt support to advance kosen-rufu in America, the Caribbean and Guam, by dashing forward with the heart of a lion king!
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