Financial Details Related to KCC’s Fundraising Goals
KCC’s Zooming Lotus fundraiser is just around the corner on November 13, 7:00-8:30pm on Zoom. For those of you who would like to know the details of KCC’s current finances, here’s a dry but thorough summary.
KCC’s 2021 General Fund Budget is $292,408. By this budget, it costs $24,367 per month to care for our Urban Center and SCOL, and run the sangha. Our fiscal year is the calendar year.
Where does the money go?
The 2021 General Fund expense budget covers
- $152,057 (52%) for personnel salaries and related expenses for Lama Eric, Linda Grove, Cynthia Irvine, Sarah Lyons and Chehale Alexander.
- $41,303 (14%) for insurance—property insurance and general liability, Lama and Directors insurance, vehicle insurance, and volunteer accident insurance.
- $16,800 (5.75%) for utilities for the Urban Center and SCOL.
- $16,604 (5.6%) for technology—telephone, internet, software, IT, mailchimp, website, Zoom, Neon, etc.
- The remaining expenses (23%) spread out broadly, ranging from things like maintenance and supplies, to Paypal fees.
Total expenses so far this year, as of 9/30/21, were $198,740
Where do we get the funds to pay for these expenses?
Our General Fund income budget (the way we projected what income would be) for 2021 included
- $186,064 (63.6%) in unrestricted contributions (individual gifts, sustaining memberships, and Zooming Lotus contributions)
- $24,256 (8%) in restricted contributions (Lama support, scholarships, Friends of SCOL, etc.)
- $80,696 (27.5%) in earned revenue (class/retreat donations, SCOL individual retreats, Dharma Store)
- $1,392 (.47%) in investment income and Amazon Smile contributions
As often occurs, funds haven’t come in exactly as projected for 2021.
Actual income reported as of 9/30/21 is
- $79,733 in unrestricted contributions, $27,065 under budget
- $11,596 in restricted contributions, $4,343 under budget
- $67,509 in earned revenue, $6,984 over budget
- $427 in investment income and Amazon Smile contributions, $617 under budget
Total income so far this year, as of 9/30/21, was $159,265
The Board of Directors aspires that KCC maintain a six-month operating reserve. As the figures above show, as of 9/30/21, expenses so far this year are $39,475 greater than revenue. We have had to draw from the reserve, and as of 9/30/21 it was at 4.1 months.
To see past financials, go to the About tab:
Then Governance > Financial/Budget Reports
