Sustaining Membership Drive: Overview of KCC’s Current Finances
We strive to be transparent with our members about KCC’s finances. As you consider Sustaining Membership or increasing your current pledge (insert donation link here), here is an overview current as of April 30, 2022. If you have further questions, please feel free to reach out to Linda Besant ()
First, a bird’s eye view:
- KCC owns our Portland Center and SCOL Retreat Center debt free.
- We operate with a General Fund Budget that projects $327,555 in expenses for 2022. This means that the monthly cost to operate KCC in 2022 is basically $27,000.
- We projected revenue of $187,000 in Sustaining Membership pledges and one-time financial
gifts in 2022. You can see how important Sustaining Membership is to KCC’s financial health.
As of 4/30/2022:
- Total income for 2022 to date was $67,392. This was $9,470 below budget projections. (Not so great, and we don’t want to fall further behind.)
- Total expenses for 2022 to date were $99,911. This was $4,278 below budget projections. (You can see we’re being as careful as possible about expenses.)
KCC’s Board of Directors prefers that KCC maintain a six month financial reserve. As of 4/30/22, we had a 3.2 month reserve.
For the finance wonks among us, here is a more detailed summary of the 2022 budget that delves into KCC’s income sources and expenses.
KCC’s 2022 General Fund budget projects $330,962 in income. Revenue sources include:
- Unrestricted Contributions of $187,000. These are Sustaining Membership donations
and one-time donations that may be spent as necessary.
- Restricted Contributions of $17,880. These are donations targeted for specific
- Earned Revenue of $125,411 from classes, retreats, the book store, etc.
- Miscellaneous Revenue of $671.
KCC’s 2022 General Fund budget projects $327,555 in expenses. Expenses include:
- Salaries or Wages of $140,044 for five employees—Resident Lama, Program Service Group Coordinator, SCOL staff and Office Manager/Bookkeeper
- Benefits for employees of $18,852
- Non-personnel Expenses of $115,783. This includes retreat and event expenses such as food and teaching fees; $45,077 for insurance, which is mostly for SCOL, but also includes the Portland Center and liability insurance; maintenance and utilities for the Portland Center and SCOL property and vehicles.
- General and Administrative Expenses of $49,727 for supplies, telephone and internet, legal and professional consultation, taxes and licenses, software and IT equipment; volunteer, accident, and Lama and Director’s insurance, PayPal and similar fees.
- Miscellaneous Expenses of $3,149 for lineage expenses, bookstore purchases, and fundraising.
In addition to the General Fund budget above, KCC has six additional funds that are restricted to specific expenses.
KCC Restricted Funds
Our donor restricted funds, with their balance as of 4/30/22 are:
- Emeritus Lama Fund $56,385
- Shrine Statue Fund $5,895
- Scholarship Fund $4,036
- Benevolence Fund $1,988
Our Board restricted funds, with their balance as of 4/30/22 are:
- Maintenance/Renovation Fund $47,373
- Capital Projects Fund $54,000
Thank you for looking so carefully at this financial information as you consider Sustaining Membership. We hope it will help you trust that we take good care with all of KCC’s resources as a vitally important way to help make the Dharma available to everyone who seeks it.
To initiate a new Sustaining Membership pledge, or increase your current pledge, (Insert donation button one more time) Take a moment to fill in the form, and be sure to write “Sustaining Membership Drive” in the notes.