Thank you very much for your interest in the SGI-USA. Below is a report on SGI-USA’s nonprofit status and how your contributions are being used to further advance the kosen-rufu movement in the United States.
The SGI-USA is an independent, religious, nonprofit organization and registered as a charitable, 501(c)(3) organization under the U.S. Internal Revenue Code. All of SGI-USA’s contributions are fully tax-deductible to the contributor to the extent allowed by law.
2. YOUR CONTRIBUTIONS AND HOW THEY ARE USED
Contributions received from members and friends are vital to support SGI-USA’s kosen-rufu activities. They allow us to operate and staff our current Buddhist Centers, to open or renovate new Centers across the country and to support our many activities, while setting aside a portion of these funds to invest for the future. Your contributions have enabled us to further build and strengthen our SGI-USA network for peace, provide improved services and support to our members and helped us to make new friends in communities across the United States as well as in the Caribbean and Guam. For more information on exciting developments that contributions have helped to make possible, please click on How Your Contributions are Making a Difference.
Members’ contributions also support projects to benefit the broader community, in keeping with the SGI’s philosophy of contributing to peace, culture and education, based on Buddhist humanism. To learn more about our projects to promote nonviolence, human rights, the elimination of nuclear weapons, environmental sustainability and other areas, please click here.
3. INCOME SOURCES
The vast majority of SGI-USA’s revenue comes from members’ contributions. Contributions received through our May Commemorative Contribution activity, Sustaining Contribution program or general donations are similarly used as described above.
Other sources of income for SGI-USA include:
- Subscriptions to our periodicals—World Tribune and Living Buddhism—and others. In general, we try to price the subscriptions to cover our costs while keeping them as widely accessible as possible.
- Bookstore sales.
- Fees for participation in conferences (primarily those held at the Florida Nature and Culture Center in Weston, Florida).
Please see the pie chart in the Financial Overview From the Assistant CFO for a breakout of income and expenses from different sources in 2020. Click here to download the overview.
An independent audit of SGI-USA’s business affairs is conducted annually. Among other things, the audit is designed to sample and test compliance with restrictions and intent of members’ donations. The firm of Moss-Adams LLP, one of the leading accounting and auditing firms on the West Coast, currently serves as the auditor of the SGI-USA. Moss-Adams was selected based on the firm’s reputation for integrity, independence and experience in auditing not-for-profit organizations.
5. THE SGI-USA BOARD OF DIRECTORS
The primary functions of SGI-USA’s Board of Directors are to oversee the operations of the corporation, establish policies with respect to those operations and review its financial statements and internal controls.
The Board of Directors is composed of thirteen members (please visit the Board of Directors page for more information on the individual directors). All directors are long-term SGI-USA members who bring a variety of professional expertise to their fiduciary responsibilities. Directors receive no compensation for their service on the Board.