Mar 30, 2014

TMO Finances

February 4, 2009

I noticed that had the 06 tax filing for Maharishi Global Development Fund, which the latest available. MGDF is one ofinnumerable tmo orgs in the US, but appears to be the most significantfinancially. It's interesting to me primarily because of how muchmoney it's been transferring to offshore accts the past decade via"grants". In 06 it transferred about $38 million offshore, continuingthe trend. 

I also noticed though that it gave almost $12 million to Maharishi Vedic Education Development Corp, located on MUM campus, whose purpose is to teach TM according to the filing. I was curious about this org. so I looked up its filing.

Actually this seems to be a pretty big org, taking in over $23 million in grants and revenues in that same year it got the big grant from MGDF. It's difficult to know exactly how it spent that money, but it does itemize: over $9 million in salaries and wages though not listed by individual, $3m for "occupancy" which I guess means rent but that seems extraordinarily high for such an org., $2.3m in PR, $900,000 for conferences, $600,000 for travel, $360,000 for bookkeeping, $415,000 for telephone, and various other stuff. It also gives some grants to other tmo orgs.

I thought the $9 million in salaries/wages might include wages to laborers for building the world peace centers, but the balance sheet doesn't list anything like that, so it's not going into hard assets like real estate. Bevan is president, feldman treasurer, though norin isquith appears to do the books. Would love to know who's getting the big salary dollars.