2021 Financial Review

Insight Meditation Community of Charlottesville

Like most spiritual communities, IMCC is financially supported by its members. IMCC has an annual budget of $50-55,000 per year. The majority of our income comes from donations and our expenditures fall into two broad categories: teacher dana and institutional maintenance. This overview of our finances was prepared by the IMCC Finance Committee to provide background on IMCC's finances in general and on how individuals can financially contribute to IMCC. If you have any questions, please let us know: imcc-treasurer@imeditation.org.

Income

Donations include contributions received at regular intervals from IMCC members on Tuesday nights, donations mailed or electronically transferred to IMCC, and contributions made during our annual fundraising drive.

Expenses

Teacher Dana is the compensation provided to teachers which allows them to continue transmitting the Dharma. We have a budgeted allocation for our regular teachers set by the Board of Directors and administered by the Guiding Teacher’s Council.

Institutional Maintenance: Roughly $35,000 per year is needed to fund the infrastructure required to maintain IMCC as an institution. This includes staff salaries for our Operations Director and Accountant, our website system, insurance, professional membership fees, various financial tools such as PayPal, Square and Quickbooks, honorarium for guest teachers, printing and publicity, and scholarships. In years prior (and likely in the future) we also pay for rental of space for our weekly gatherings. Further details are provided below.


IMCC ASSETS as of December 31, 2021


General Fund Balance (this is used for all sangha expenses except those noted below)

64,278

Dedicated Funds (may only be used for expressed purposes)


    Fred Meyer Scholarship Fund

4,927

    Teacher Development fund

9,481

    Organizational Development fund

5,000

ASSETS TOTAL

83,686


2021 INCOME


­­Donations & Interest

52,605



2021 EXPENSES


Staff Salaries

24,776

IMCC Teacher Dana

15,000

Website Host

2,052

Insurance (Liab, D&O, Teachers)

1,920

Credit Card Processing Fees

1,103

Memberships/Dues (Clergy Collective, CNE, IMPACT)

900

Software and equipment

430

Support for 'Meditation for People of Color' group

650

Donation to community group via the Clergy Collective

500

Trainings for IMCC staff/leaders

202

Guest Teachers

872

Supplies, printing, postage

429

Zoom Fees

362

Scholarships

120

TOTAL EXPENSES

48,316



2021 NET INCOME

3,289

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