Shambhala Boston: 2015 Finance Report

Shambhala Meditation Center of Boston
Budget vs. Actuals: 2015 Budget – FY15 P&L
January – December 2015

Total
 ActualBudget
Income  
  Dues and Donations111,669.60  101,106.00  
  Net Program Revenue48,446.19  44,477.00  
  Other Income Total13,825.73  11,679.00  
Total Income$173,941.52  $157,262.00  
Gross Profit$173,941.52  $157,262.00  
Expenses  
  Building Exp(Depr,Util,Ins,Mnt)15,914.15  15,754.00  
  Office8,308.79  6,936.00  
  Other Expense30,703.00  28,196.00  
  Payroll Expenses86,464.47  85,966.00  
  Shambhala International Expense18,773.00  11,480.00  
Total Expenses$160,163.41  $148,332.00  
Net Operating Income$13,778.11  $8,930.00  
Net Income$13,778.11  $8,930.00  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This is an overview of Shambhala Boston’s finances for the year 2015. The commentary for each category was put together by our Chagdzö, Caitlin Smith who is a member of our Governing Council.

Dues & Donations: These are our monthly and annual membership dues as well as cash left in the donation bowl and the donations made at Nyida Days. The actual amount received is over $10,000 more than budgeted because our members we so generous during the Harvest of Peace fundraiser. Some of the donations from the Harvest of Peace fundraiser came in the form of increase monthly dues, which will bolster our budget moving into Calendar Year 2016.

Net Program Revenue: This is our income from programs after program-specific expenses. Program-specific expenses include, but are not limited to, directors’ honoraria, teacher/staff travel, program food, program supplies, ikebana expenses, coordinator gifts, online expenses, etc. We include these expenses in the top half of our budget so we know how much income we have to off-set operational expenses.

Other Income: We include income from our parking, yoga, and other rentals as well as book sales and miscellaneous income in this category.

Gross Profit: As you can see, our gross profit was $16,679 higher than expected.

Building Expenses: Building insurance, utilities, snow removal, and base repairs and maintenance are accounted for here.

Office Expenses: This category speaks for itself, but it includes the cost of running an ad on the Red Line this Fall.

Other Expenses: This is our catch-all category. It includes expenses for special events, professional development, shrine and practice, technology, general hospitality/cleaning and upkeep, scholarships, payroll fees, etc.

Payroll Expenses: We are currently paying for 2 full-time staff and 2 part-time staff. This category includes salaries, wages, payroll taxes, workers’ compensation, etc.

Shambhala International Contribution: The amounts shown here are the amounts contributed from the Shambhala Meditation Center of Boston directly to the Center of the Mandala. These include a monthly contribution made automatically as well as donations from Shambhala Day and Harvest of Peace. The amount actually contributed was over $7,000 higher than budgeted because our members were so generous in the Harvest of Peace fundraiser that we were able to send more than we originally projected.

Total Expenses: Our total expenses were $11,831 more than anticipated. As mentioned above, $7,000 of that was additional funds sent to support the Center of the Mandala, and the rest was spread over many categories.

Net Income: In the end, we finished off 2015 in the black by $13,778. This is a great accomplishment for our staff, members, and community. We look forward to continued financial stability as we move into 2016.

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