American Section Saga - Update


M K Ramadoss
 

TSA Announcement:


Employee's message in FB

My nonprofit employer, the Theosophical Society in America, has had to furlough 2/3 of its employees due to financial challenges of Covid-19. Please donate if you can, to preserve this valuable institution: 

Member's Question:

I work with a lot of non-profits and know that many of them are not fortunate to have a trust (and a pretty nice one, too) like TSA has. Know Trusts are set up for specific reasons, but why can't the trust help support TSA employees during this difficult time? The could likely be creative and lawful means to help support these folks, especially since its possible that the stay-at-home measure might return next fall/winter season. If they don't or feel they can't support TSA employees, could they give TSA a loan (with 0% interest, if necessary) to help these folks? The Trust could be replenished, people's stomachs and rent, not so easy at this time.

Answer: 1
Every trust has restrictions. Our Theosophical Investment Trust was designed by some caring and thoughtful businessmen for the long haul, and only a small percentage of the funds can legally be withdrawn in any fiscal year. Since the stock market tanked, less than usual can be drawn. At the same time, revenue is down from public programs and donations. Our book shop is closed. Altogether it makes the rest of 2020 very uncertain. 

Answer 2:

Just today we learned that the TSA has succeeded in getting an SBA loan under the PPP program. Great news! Employees will gradually be brought back to work, subject to the stay-at-home orders that are still in place. Those who can be productive at home can return to employment earlier than some whose jobs are more public-facing. 

Member's Response:

Good news. Glad that you all will be getting some assistance to help you all. Hope everyone stays healthy and well.


Virus-free. www.avg.com


M K Ramadoss
 

There may be some apprehension in some minds about the future of employees at Wheaton. While 2/3 were furloughed, with the receipt of PPP (Paychek Protection Program) money from the US Government, near future employment is protected. If employment and salary levels are maintained for eight weeks, most of the money is forgiven. So there is incentive to keep employees on payroll.

There is sufficient accumulated money in the bank. It is managed by Theosophical Investment Trust which is controlled by TS. Per last report it has $17million.

While it is in a Trust, the principal and income can be used by TSA for any purpose and has no limitation. So TS can draw on it for its operation for a long time to come and there is no panic.

TSA grew when many unpaid volunteers worked in Wheaton. Now may be an excellent opportunity to convert Wheaton into volunteer driven rather than salaried employee outfit. The start should come from the National President who is now a salaried employee.

Keep tuned for more news.


On Wed, Apr 22, 2020 at 12:06 AM M K Ramadoss via groups.io <mkr777=gmail.com@groups.io> wrote:
TSA Announcement:


Employee's message in FB

My nonprofit employer, the Theosophical Society in America, has had to furlough 2/3 of its employees due to financial challenges of Covid-19. Please donate if you can, to preserve this valuable institution: 

Member's Question:

I work with a lot of non-profits and know that many of them are not fortunate to have a trust (and a pretty nice one, too) like TSA has. Know Trusts are set up for specific reasons, but why can't the trust help support TSA employees during this difficult time? The could likely be creative and lawful means to help support these folks, especially since its possible that the stay-at-home measure might return next fall/winter season. If they don't or feel they can't support TSA employees, could they give TSA a loan (with 0% interest, if necessary) to help these folks? The Trust could be replenished, people's stomachs and rent, not so easy at this time.

Answer: 1
Every trust has restrictions. Our Theosophical Investment Trust was designed by some caring and thoughtful businessmen for the long haul, and only a small percentage of the funds can legally be withdrawn in any fiscal year. Since the stock market tanked, less than usual can be drawn. At the same time, revenue is down from public programs and donations. Our book shop is closed. Altogether it makes the rest of 2020 very uncertain. 

Answer 2:

Just today we learned that the TSA has succeeded in getting an SBA loan under the PPP program. Great news! Employees will gradually be brought back to work, subject to the stay-at-home orders that are still in place. Those who can be productive at home can return to employment earlier than some whose jobs are more public-facing. 

Member's Response:

Good news. Glad that you all will be getting some assistance to help you all. Hope everyone stays healthy and well.


Virus-free. www.avg.com


M K Ramadoss
 

The Paycheck Protection Program money TSA received is estimated at $325,000, which is 2-1/2 months salary and benefits.

M K Ramadoss

Virus-free. www.avg.com


On Wed, Apr 22, 2020 at 12:16 AM M K Ramadoss via groups.io <mkr777=gmail.com@groups.io> wrote:

There may be some apprehension in some minds about the future of employees at Wheaton. While 2/3 were furloughed, with the receipt of PPP (Paychek Protection Program) money from the US Government, near future employment is protected. If employment and salary levels are maintained for eight weeks, most of the money is forgiven. So there is incentive to keep employees on payroll.

There is sufficient accumulated money in the bank. It is managed by Theosophical Investment Trust which is controlled by TS. Per last report it has $17million.

While it is in a Trust, the principal and income can be used by TSA for any purpose and has no limitation. So TS can draw on it for its operation for a long time to come and there is no panic.

TSA grew when many unpaid volunteers worked in Wheaton. Now may be an excellent opportunity to convert Wheaton into volunteer driven rather than salaried employee outfit. The start should come from the National President who is now a salaried employee.

Keep tuned for more news.


On Wed, Apr 22, 2020 at 12:06 AM M K Ramadoss via groups.io <mkr777=gmail.com@groups.io> wrote:
TSA Announcement:


Employee's message in FB

My nonprofit employer, the Theosophical Society in America, has had to furlough 2/3 of its employees due to financial challenges of Covid-19. Please donate if you can, to preserve this valuable institution: 

Member's Question:

I work with a lot of non-profits and know that many of them are not fortunate to have a trust (and a pretty nice one, too) like TSA has. Know Trusts are set up for specific reasons, but why can't the trust help support TSA employees during this difficult time? The could likely be creative and lawful means to help support these folks, especially since its possible that the stay-at-home measure might return next fall/winter season. If they don't or feel they can't support TSA employees, could they give TSA a loan (with 0% interest, if necessary) to help these folks? The Trust could be replenished, people's stomachs and rent, not so easy at this time.

Answer: 1
Every trust has restrictions. Our Theosophical Investment Trust was designed by some caring and thoughtful businessmen for the long haul, and only a small percentage of the funds can legally be withdrawn in any fiscal year. Since the stock market tanked, less than usual can be drawn. At the same time, revenue is down from public programs and donations. Our book shop is closed. Altogether it makes the rest of 2020 very uncertain. 

Answer 2:

Just today we learned that the TSA has succeeded in getting an SBA loan under the PPP program. Great news! Employees will gradually be brought back to work, subject to the stay-at-home orders that are still in place. Those who can be productive at home can return to employment earlier than some whose jobs are more public-facing. 

Member's Response:

Good news. Glad that you all will be getting some assistance to help you all. Hope everyone stays healthy and well.


Virus-free. www.avg.com


M K Ramadoss
 

Now that PPP money of estimated $325k has been received and most of it would be treated as a grant with no tax, it is but fair that Wheaton notify all those to whom earlier donation email was sent. Traditionally, Wheaton and Adyar are known for their secrecy in money matters. But when the PPP money info is in public domain and would be soon on the Internet. It would be right to let members know before they find out about it on Internet or newsmedia.

Some feel that when the solicitation for donation was made, the potential donors should have been told about the PPP application and amount sought. Such transparency is helpful to make all feel that no unnecessary secrecy is practiced at Wheaton.

Let us see what we hear from Wheaton. Don't be surprised by anything!


On Wed, Apr 22, 2020 at 12:38 AM M K Ramadoss <mkr777@...> wrote:
The Paycheck Protection Program money TSA received is estimated at $325,000, which is 2-1/2 months salary and benefits.

M K Ramadoss

Virus-free. www.avg.com

On Wed, Apr 22, 2020 at 12:16 AM M K Ramadoss via groups.io <mkr777=gmail.com@groups.io> wrote:

There may be some apprehension in some minds about the future of employees at Wheaton. While 2/3 were furloughed, with the receipt of PPP (Paychek Protection Program) money from the US Government, near future employment is protected. If employment and salary levels are maintained for eight weeks, most of the money is forgiven. So there is incentive to keep employees on payroll.

There is sufficient accumulated money in the bank. It is managed by Theosophical Investment Trust which is controlled by TS. Per last report it has $17million.

While it is in a Trust, the principal and income can be used by TSA for any purpose and has no limitation. So TS can draw on it for its operation for a long time to come and there is no panic.

TSA grew when many unpaid volunteers worked in Wheaton. Now may be an excellent opportunity to convert Wheaton into volunteer driven rather than salaried employee outfit. The start should come from the National President who is now a salaried employee.

Keep tuned for more news.


On Wed, Apr 22, 2020 at 12:06 AM M K Ramadoss via groups.io <mkr777=gmail.com@groups.io> wrote:
TSA Announcement:


Employee's message in FB

My nonprofit employer, the Theosophical Society in America, has had to furlough 2/3 of its employees due to financial challenges of Covid-19. Please donate if you can, to preserve this valuable institution: 

Member's Question:

I work with a lot of non-profits and know that many of them are not fortunate to have a trust (and a pretty nice one, too) like TSA has. Know Trusts are set up for specific reasons, but why can't the trust help support TSA employees during this difficult time? The could likely be creative and lawful means to help support these folks, especially since its possible that the stay-at-home measure might return next fall/winter season. If they don't or feel they can't support TSA employees, could they give TSA a loan (with 0% interest, if necessary) to help these folks? The Trust could be replenished, people's stomachs and rent, not so easy at this time.

Answer: 1
Every trust has restrictions. Our Theosophical Investment Trust was designed by some caring and thoughtful businessmen for the long haul, and only a small percentage of the funds can legally be withdrawn in any fiscal year. Since the stock market tanked, less than usual can be drawn. At the same time, revenue is down from public programs and donations. Our book shop is closed. Altogether it makes the rest of 2020 very uncertain. 

Answer 2:

Just today we learned that the TSA has succeeded in getting an SBA loan under the PPP program. Great news! Employees will gradually be brought back to work, subject to the stay-at-home orders that are still in place. Those who can be productive at home can return to employment earlier than some whose jobs are more public-facing. 

Member's Response:

Good news. Glad that you all will be getting some assistance to help you all. Hope everyone stays healthy and well.


Virus-free. www.avg.com