Accounting Expense of American Section


M K Ramadoss
 

AMERICAN SECTION – CURRENT MONEY CRUNCH – A look at Accounting Expense ---
Covoid19 has impacted the income of American Section much like all businesses. The lion’s share of its income is from Kern Foundation which contributes $1+ Million annually. So for many years in the past, Kern generosity helped American Section to have a large budget. With the financial downturn, Kern will be affected and its donation would shrink significantly.

It times of financial difficulty, one tries to reduce the expenses. Typically, it starts with reducing the work force. In addition one needs to look at every item of expense.

One item of expense that stands out is fees paid to outside accountants. There is competent in-house accountant and staff. Money spent on accountants do not spread theosophy. What is shocking for the common man is the fees paid to outside accountant. Here are the figures –

2014 - $146,914
2015 - $180,909
2016 - $143,037
2017 - $135,893
2018 - $131,394

In good times and bad times, accountants come out ahead and will not give any break after seeing $17Million in the bank. Continuing this trend will not help TSA.

Can someone help us all understand how such huge expense contributes to spreading theosophy to the masses?

Peace

PS: The expense breakdown is not seen in the accounting statements published annually to members. Thanks to US Congress. It has put income tax returns in public domain for public oversight since taxpayer is subsidizing these organizations. The above numbers were extracted from the income tax returns which are accessible on Internet.


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