Jikoji Funds & Endowment
Funds.php [corresponding page at "fund" subdomain]
Jikoji's funding comes primarily from three sources; donations, activities and events, and rentals. Rental income goes directly into our General Fund (see below), as does most income from activities and events. Your donation can designate any purpose as long as that purpose is consistent with Jikoji's Vision and Mission.
Alternately, your contributions can be designated for any one or more of the following Jikoji Funds.
Unless otherwise designated, all income including contributions generally falls into this fund. The General Fund is used for operations, maintenance, and selected teaching expenses.
Facilities Improvement Fund
Contributions designated for this fund finance Jikoji's ongoing facilities improvements and modernization. Please see our page of Pending Projects for additional information.
Contributions designated for the teacher's fund generally are used to pay Shoho Michael Newhall's salary and his expenses related to his role as Guiding Teacher at Jikoji. Ten percent (10%) of Jikoji's non-designated income also is directed into the Teacher's Fund.
Trail Improvement Fund
Our Trail Improvement Fund was established to relocate the Midpeninsula Regional Open Space District (MPOSD) recreational trail away from Jikoji's meditative facilities.
Animal Welfare Fund
This fund provides ongoing care for Jikoji's chickens and cats.
Jikoji Endowment Fund
The Jikoji Endowment Fund is being established for Jikoji's long term future. Once the Fund reaches its initial goal of $100,000, the annual earnings and/or appreciation will provide another source of income over Jikoji's next 500 years. As of July 2016, our Endowment Fund was valued at about $13,000. Its value fluctuates with the stock and bond markets values.
History/Definition: The Endowment Fund was established in 2002 to provide a vehicle for donors to support Jikoji's long-term financial stability. To accomplish this goal, donations to the Endowment Fund have been invested in the Vanguard Star Fund ("VGSTX") a balanced index, "fund of funds". The VGSTX fund provides for long-term capital appreciation and income by investing in a diversified group of other Vanguard mutual funds, rather than in individual securities. All contributions to Jikoji designated for the Endowment Fund have been deposited in Jikoji's Vanguard account.
Goals and Strategy: The Endowment Fund's goal of supporting Jikoji's long-term financial viability will be achieved by managing the Fund on the following basis:
(1) Until the Fund balance exceeds $100,000, its annual market appreciation in value and any donations to the Fund must be retained.
(2) At such time in the future when the Fund balance exceeds $100,000, its appreciation during each subsequent calendar year may be used to support Jikoji's activities as authorized by the Jikoji Board of Directors.
Emergency Borrowing: After the $100,000 Endowment Fund balance has been achieved, up to 25% of the Fund balance may be "borrowed" but only if the Board determines that unusual financial demands facing Jikoji require it. After such "borrowing" no further withdrawals from the Fund are permissible until the amount borrowed has been restored through repayment to the Fund from the Jikoji general fund, through contributions from donors, or through appreciation in the market value of the Fund.
Alternative Investments Opportunities: Jikoji's Board may at any time invest the Endowment Fund in mutual funds other than the Vanguard Star Fund, as best benefits Jikoji's long term interests, while retaining the Goals and Strategy as stated above.
Current and Projected Value: The Endowment Fund in July 2016 was valued at about $13,000. Its value fluctuates with the stock and bond markets values.
In addition to the established Funds listed above, a number of large-scale projects are pending financing. Please see our page of Pending Projects for additional information. Gassho.