HeartBeat Summer 2009 - Sufi Ruhaniat International

SRI Liquid Assets 12/31/2008: $118,393"In The Garden"Fund $8,250Restricted Funds$13,592Ruhaniat Assets(unrestricted)$96,551The financial picture of the Ruhaniat changed significantly in December 2008 when we learnedthat the investment of the Endowment fund was lost. This was due to the collapse of the Madofffunds where it was invested. Additionally, we lost a significant income stream from tithes from aMadoff-related investment vehicle.The Ruhaniat was depending on this income for a number of its activities. The trustees adopteda budget for the first 6 months of 2009 supporting only the basic needs of the organization and thishas been extended for the rest of 2009. With the support from its members this budget is so far beingmet. The generous response of our community in this difficult time is appreciated beyond measureand allows the “mothership” to remain afloat. However, the level of support is not yet enough tostart adding back expenses for activities that were halted.The pie-charts show the income and expenses for 2008 and because of the significant changesare not indicative for 2009.In recognition of the financial blow to the Pir, the board voted to support him without reductionin compensation or benefits for 2009.• The secretariat and treasurer are being maintained.• The archivist position was defunded.• Wali Ali took a 33% cut and retained the use of the Mentorgarten for his family.• Shabda’s assistant’s time was cut in half.• Wali Ali’s assistant volunteered to volunteer until such time as the financial picturemight provide support for that position.• The two California office expenses were cut in half as well.• The contract with Axiom to develop and host the archives website was renegotiated.• Jamiat Ahm and Jamiat Khas gatherings continue to have support.The Mureed Emergency Fund continues to be effective to support mureeds in emergencies. Theguarantee that $5,000 will be available each year in this fund is still in place. Donations specificallyfor this fund also keep coming in.»Sufi Ruhaniat International 35