We have always believed our community should be based on generosity (dāna). As part of spreading the Buddha's teachings, we think it's important that we run our centre on the basis of dāna as part of a culture of giving.
Unfortunately, now that our centre has had to close, we have lost all the donations we would normally receive from classes, as well as income from courses and retreats. Even after eliminating all possible expenses and getting a term extension on our mortgage, we are currently facing a deficit of around $7000 per month. We have enough reserves to keep afloat for perhaps 5-6 months depending on the Government support we receive, but we are likely to face significant cash flow issues after depleting these reserves when we reopen.
We know times are hard for many people, and for some giving financially is not an option at this time. But we have never needed support more than we do now. We hope those who can will give what they can so that we can get through this period and keep the Centre running and ready to reopen as soon as possible.
Currently, the vast majority of people attending our centre do not have monthly standing donations. Of those that do, the average donation is $80 per month. If everyone who attends the centre regularly started donating a similar amount, it would more than halve our deficit.
If you are in a position to give, whether small or large, one-off or regularly, it will make a huge difference. For more detailed information about our finances or to discuss anything related to donations or finances, please feel free to contact us and our Treasurer will get back to you.
What It CostsTypical monthly expenses after eliminating all unnecessary expenses while the centre is closed.
While most of our classes, courses and retreats are run by volunteers who aren't paid for the work they do, we employ a small team to handle administration and bookkeeping. Even with the centre being physically closed, almost all of this work still has to continue to ensure bills are paid, our online class schedule is coordinated, and our legal responsibilities are fulfilled.
Even with the centre closed, we still have to pay insurance, utilities for our two buildings (Sydney Buddhist Centre and Vijayaloka), website hosting, and a range of bank charges, legal and accountancy costs. We have eliminated everything that can be while the centre is closed to bring this number as low as possible.
While both our buildings are owned by us, only Vijayaloka is owned outright. The Sydney Buddhist Centre building is on a repayment mortgage and while we can extend the term on our mortgage, we are still required to pay the interest.