Financial Summary 2008
24 June 2009
The first year of the YMAA Retreat Center's 10-year training program is drawing to a close, and we would like to present a summary of the Retreat Center's financial situation, progress and struggles. Over the past 4-5 years, Dr. Yang has invested much of his time and personal savings into making the nonprofit YMAA Retreat Center a reality. From Dr. Yang's generous contributions, as well as those of our donors and student sponsors, we have managed to stay on schedule thus far. As Dr. Yang is currently supporting more than half of the center's expenses with his remaining life savings, we continually appreciate and value greatly the kindness and support that all of our donors and supporters show to help fully bring this project to fruition.
Revenue and expenses for the year of 2008 at the YMAA Retreat Center are:
| Revenue | $111,012.64 | |
| Expenses | $115,242.61 |
Continue reading on for more details.
The cost to sponsor each student at the center averages about $10,000/year. We received approximately $35,000 in donations last year, meaning that the cost of about 3 and a half students was covered through the support of donors and sponsors, while the rest of the expenses were covered by Dr. Yang. Unfortunately, the Retreat Center does not have a high profit margin and not all of the students are able to sponsor themselves, so Dr. Yang has had to put in much effort and personal savings into sustaining the Retreat Center at this stage of the program. In the years that follow, as Dr. Yang grows older and continues to use up his personal savings, we will become more and more dependent on the kind donations and support of people worldwide to keep the Retreat Center in operation.
Revenue Detail
| Donations | Includes contributions from Dr. Yang's personal funds, including his retirement savings, donations from PayPal and sent checks, and student sponsors. | $35,061.12 |
| Seminars | Income from Dr. Yang's seminars. | $75,951.52 |
| Bank Interest | The Retreat Center's bank account generates a marginal amount of interest. | $38.17 |
| Total Revenue | $111,050.81 |
Expenses Detail
| Food | Includes grocery shopping and eating-out for Dr. Yang, students, visitors, and seminar participants. | $15,322.90 |
| Gasoline | Automobile gasoline for driving to the market, to town, to shuttle seminar participants to/from airport, and for any other travel using Retreat Center vehicles. | $2,618.74 |
| Automobiles | Automobile insurance, maintenance, repairs. | $1,403.07 |
| Houseware | Hardware, tools and supplies for kitchen, garden, housework, house maintenance. | $3,738.58 |
| Miscellaneous | Driving tolls, parking fees, garbage disposal, literature/books, medicine, miscellaneous parts. | $3,113.67 |
| Insurance | Health insurance for students sponsored in part or in full by the Retreat Center. | $1,354.62 |
| Utilities | Cable/Internet access, cellular phone service and fees, fire insurance, propane gas. | $11,582.29 |
| Office Supplies | Printers, computers, cameras, hardware, furniture. | $15,336.28 |
| Accounting | Accountant fee. | $750.00 |
| Maintenance | Maintenance of land property, such as gravel road. | $4,593.42 |
| Education and Training Equipment | Books, bricks, ropes, Taiji balls, DVD editing system. | $6,368.20 |
| Travel | Travel expenses. | $516.12 |
| Allowance | The disciples receive a small allowance for additional food and supplies. | $2,515.48 |
| Tax | Humboldt County Property Tax. | $368.20 |
| Reimbursement | Dr. Yang pre-paid for much of the construction and setup of the Retreat Center, so the center reimburses Dr. Yang who in turn donates back to the Retreat Center. | $45,661.04 |
| Total Expenses | $115,242.61 |
It's good to see a center
It's good to see a center such as this one holding on so strong due to the financial situations of today.
Jay Pleas
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