Both the Retreat Center and the Forest Refuge were closed for residential retreats for most of 2021 due to COVID-19, however IMS’ online programming during this period enabled our teachers to ensure the continued transmission of the Buddha’s priceless teachings at this critical time.
Retreat highlights included:
- Seventy two (72) online programs, regular online book clubs, and a 12-month Way of the Buddha online program.
- The Retreat Center re-opened in late October 2021, and has hosted five residential retreats (ranging from 5-nights to 21-nights). There were 36 days of teacher-led courses offered at the Retreat Center. All except the 21-night retreat were open to all and did not require any prior experience.
- The Forest Refuge was re-opened on November 1, 2021. There were 61 days for personal retreats offered at the Forest Refuge.
Financial results of operations
Total operating expenses for the year (which includes depreciation) were $4,742,339. Revenues from registrations for retreats covered 31% of our expenses (a smaller percentage than usual due to COVID related closing of the retreat centers); the rest came from contributions and investment income. Clearly, IMS continues to rely heavily on donations to keep rates affordable and to sustain operations.
The following revenue and expense information is derived from our audited financial statement.
Operating revenue (not including investment income)
- Retreat registration revenue: $1,451,902
- Contributions: $2,437,088
- Sales, misc. & bank interest: $78,967
Total operating revenue: $3,967,957*
Operating expenses (net of depreciation and investment fees)
- Program services: $3,837,843
- Management & general: $548,585
- Development & outreach: $355,911
Total operating expenses: $4,742,339*
Result of operations: ($774,382)**
* Includes donations received for and paid to teachers.
** The operational deficit was covered by the budgeted investment draw.
Please direct any feedback to Executive Director Inger Forland at firstname.lastname@example.org.