2023 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 $60,000 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 October 9, 2023


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

43,002

Dedicated Funds (may only be used for expressed purposes)


    Fred Meyer Scholarship Fund

4,152

    Teacher Development fund

5,847

    Organizational Development fund

1,666

ASSETS TOTAL

56,367


2023 INCOME


­­Donations & Interest

13,922



2023 EXPENSES


Staff Salaries

9,011

IMCC Teacher Payments

7,500

Guest Teacher Honorariums
1,410

Insurance (Liab, D&O, Teachers)

1,981

Professional & Facilitator Services

2,487

Rent

2,065

Web Services

3,000

Supplies, printing, postage

429

Zoom Fees

264

TOTAL EXPENSES

30,047



2023 NET INCOME

-16,125

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