Treasurer’s Report 2017

Common Ground Meditation Center

Board Treasurer Report  /  Summary of 2016 Financials

On behalf of the Common Ground Finance Committee and the Board of Directors, I am happy to report that Common Ground Meditation Center continues to benefit from the community’s consistent generosity.

The overall financial goal of Common Ground is the support of our mindfulness practice in a healthy and frugal manner.  The overall financial health of the center is very good.  During the 2016 fiscal year, total donations (dana) were $326,630 a decrease of $499 from 2015. In addition, we received 2016 dana of $36,981 for the operation and renovation of Common Ground Retreat at Prairie Farm versus $44,083 received in 2015. Total Common Ground 2016 operating expenses were $217,712 against a budget plan of $225,326. The net operating income for 2016 was $115,298 and we continue to operate both our city center and the retreat property completely mortgage free.

A Common Ground financial operating principle is to reserve cash on hand at least equal to the annual expense budget for both centers ($234,326 in 2016).  Our 2016 year end cash on hand was $605,842.

The Board offered our Guiding Teacher and Executive Director, Mark Nunberg, a base salary of $49,644 and total compensation of $76,052, which includes professional development and benefits. At year end, the board offered additional compensation of $20,000, which Mark donated to support the center’s diversity programs and retreat property.

Compensation is the largest component in the 2017 budget, and we estimate that we will spend $203,000 in 2017 to support our paid staff and our many ongoing and visiting teachers. Shelly Graf our office manager works 20 hours a week, Gabe Keller-Flores, administrative assistant 20 hours and Gail Iverson, bookkeeping manager 8 hours.

Common Ground volunteers continue to develop and operate the Common Ground Retreat at Prairie Farm. The future improvements, additions and build/improvement time tables are related to the future financial support for these projects. The Board has approved a 2017 retreat operating budget of $750 per month.

I deeply appreciate my colleagues on the finance committee, Gail Iverson, Mark Nunberg and Doug Swanson – their guidance on financial management and insight is invaluable.  Thank you to our Deposit Team volunteers – Steve Burt, Doug Swanson and Evelyn Kaiser, who put in many hours each month to ensure all the donations are counted and correctly entered into our accounting system.

Please let us know if you have questions about this financial review.

With gratitude,

Dave Halsey, Treasurer

Common Ground Meditation Center