Transparency - Payment to President

M K Ramadoss

Theosophy News
Published by Theo Sophia · Just now ·

For a long time, it is a tradition for Adyar money to be parked in Wheaton’s accounts and managed by Theosophical Investment Trust. Use and disbursement of the money was under the control and discretion of International President.

When it was discovered that Boyd was paid for lecturing and consulting by American Section it was shocking since he was getting paid for what was his DUTY – lecturing and advising the Section. None of the past International Presidents got paid for lecturing and consulting.

When dealing with money issues, you follow the money to get a complete picture. So an inquiry was made with American Section and after six long days it was clarified that the payment was for lecturing and consulting and that there is a contract and the matter was discussed at the Board meeting.

Since Boyd was getting paid for what was his DUTY, it was requested that the contract be disclosed for the sake of transparency. Till todate it has not been disclosed. If there is nothing to be kept secret, there is no reason for not disclosing the contract.

Quite often, money meant for Adyar is funneled through American Section for tax related issues. One wonders if the payment made to Boyd was really money meant for and belonging to Adyar and the formality of contract was to justify the payment. If this be so, then it is a violation of the Societies Act.

Full transparency by disclosing the contract and minutes of Board meeting will instantly clear all the fog and everyone would come out smelling like a rose. Continued lack of transparency will not make the issue go away.

Let us hope, soon, we all would learn the full story behind the above issue.


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