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A n n u a l R e p o r t
2018
Zone 9 Gathering 2019, Subud Center Mina Clavero, Argentina / Photo courtesy Serena Sandoval.
MUHAMMAD SUBUH FOUNDATION
MUHAMMAD SUBUH FOUNDATION
03 | Chairperson Message
04 | Grants to Subud Groups
08 | Subud Houses
09 | Grants to WSA
10 | Liaison Program
11 | Fiscal Report
12 | Statement of Activities Notes
13 | Financial Report
14 | Asiamet Resources
15 | Donations & Bequests
Contents
WELCOME
Bapak in early May, 1976, visiting Subud Long Island Subud House in Huntington, NY, photo courtesy Simón Cherpitel.
02
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
Dear Brothers and Sisters,
Since the last World Congress held in Freiburg in 2018, I have had the honor of presiding over the Muhammad Subuh Foundation (MSF) for the next four years. The
mission of the Foundation since its incorporation in 1991, has been
to support the long-term growth and worldwide development of Subud. In the course of its 27 years of operation, MSF has built a financial capacity that has supported the purchase and improvement of Subud houses in more than 50 groups in 25 countries. In addition, the Foundation has supported substantially the travel of the International Helpers and projects to preserve the archives of Bapak’s and Ibu Rahayu’s Talks, documents and media. All this would not have been possible without the generosity and trust that many Subud members have placed in MSF through their donations and bequests, and the voluntary work of the 45 trustees who along with several collaborators have served MSF throughout its history.
Following its mandate to build a lasting financial capacity for the future of Subud, MSF continues to change and improve the management of its investment portfolio. Since 2015, it has been managed professionally in accordance with the rules of responsible investment management for non-profit organizations (UPMIFA) of the state of Virginia, USA, where MSF is legally registered. The investment portfolio strategy is under continual review in order to make the necessary adjustments to preserve its purchasing capacity while we comply with the role to provide grants according to the Foundation’s mission. Additionally, we have worked arduously to improve our processes and procedures which along with the staggered term system, promoted a successful transition between the previous and the new trustees in an atmosphere of total harmony and teamwork. Our intention is to improve our work by continuously implementing the necessary changes to help strengthen our most valuable asset, which is the trust that Subud Brothers and Sisters place in MSF. We strive to communicate our progress on a regular basis through the different media in Subud.
As an active international organization in our community, we have observed the difficulty that several Subud centers in the world have experienced in sustaining themselves, as well as the fact that membership, in general, has decreased and generational renewal has not occurred at the pace that many expected. This should not prevent us from looking at the future with optimism while being aware of our reality. The ties between all of us as Subud members must come closer creating a culture of true collaboration and mutual support, where MSF can continue to contribute by being a bridge that allows the resources that flow through it to proceed with total transparency, and taking care of the preservation of our assets and growth for the future. These responsibilities might sometimes lead to take important and difficult decisions, but we believe they will benefit the entire Subud World Community.
I would like to express our sincere wish on behalf of the MSF team that the work during this term may contribute to the strengthening of Subud, and that the Latihan Kejiwaan continues to expand to more people and more places in the world.
May Almighty God bless our work together for Subud.
With love and respect,
Chairperson Message
Mauricio CastilloChairperson 2018-2022
03
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
GrantsOne of the main objectives of the Foundation is to support Subud groups in the purchase and improvement of their Subud
properties. In 2018 we were able to assist in the capital improvement of the following existing Subud properties.
Cape Town group at South Africa Congress.
MUHAMMAD SUBUH FOUNDATION
04
ANNUAL REPORT 2018
Muhammad Subuh Centre, Kalimantan.
MUHAMMAD SUBUH FOUNDATION
The condition of the asphalt road from Latihan Hall to Wisma Indonesia building in Wisma Subud Complex, June 2018.
GRANT AWARDED
To finish repair of the asphalt road in the Wisma Subud complex, Cilandak, South Jakarta.The total cost of the road repair was USD 18,991. Wisma Subud residents and others contributed with USD 12,000 and MSF helped with the remaining funds to cover the total cost.Yayasan Subud manages and maintains certain properties, including the latihan hall and guest house at Wisma Subud.
YAYASAN SUBUD
USD 7,000
YAYASAN MUHAMMAD
SUBUH
GRANT AWARDED USD 5,000Grant awarded for renovations of the Muhammad Subuh Centre in Rungan Sari, Central Kalimantan
05
ANNUAL REPORT 2018
Renovated room at the Sao Paulo house is now used to gain income by airbnb rentals.
Sao Paulo group in front of their house.
Sao Paulo house renovation.
MUHAMMAD SUBUH FOUNDATION
GRANT AWARDED USD 13,060
Grant of USD 7,000 for loan repayment for recent capital improvements to the Sao Paulo Subud house and conversion of the USD 6,060 balance of their 2004 USD 15,000 loan to purchase the house. The house is now beautifully renovated and the group has begun to rent out one of the rooms on airbnb.
SUBUD SAO PAULO
06
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
USD GRANT AWARDED 10,000
Grant to upgrade the 2nd floor as an independent unit with its own kitchen and toilet. Only the ground floor is used for latihan. The refurbished house was recently used to host a National Congress and the group plans to rent out the upper level as an office facility.
(This was supplementary to the USD 10,000 grant awarded last year to replace the roof).
Renovated Cape Town house kitchen.
SUBUD CAPE TOWN
Cape Town house renovation.
07
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
Subud Groups awarded around the WorldSubud Houses
North America 6United StatesDurhamPortlandSeattleSonomaSpokaneWashington DC
Central America
2MexicoPueblaTlaxcala
Africa
7DR CongoMatadiKinshasaKingantoko
South AfricaJohannesburghCape Town
NigeriaCalabarLagos
Europe 9SpainÓrgiva
BosniaBanja Luka
UkraineCherkasyDnipro
ItalyFlorence
GermanyMunich
FranceMayenne
United KingdomLewes
PortugalLisbon
Asia 12ThailandBangkok
MalaysiaKuala Lumpur
Indonesia
MSC, Rungan Sari PalangkarayaAdi PuriBogorMenteng, JakartaMalangKulon ProgoPurwokertoWisma Subud, CilandakSurabaya
Oceania 2AustraliaCanberraPerth
Middle
East 1LebanonBeirut
South America
14ColombiaAmanecerCaliBogotaPopayánArmeniaIstmina
EcuadorQuevedoQuito
PeruLima
ChileProvidencia, SantiagoLa Florida, San-tiago
BrazilSao Paulo
ArgentinaMina Clavero
SurinameAccaribo
AustraliaSouth Africa
Colombia
Chile
Peru
Ecuador
Argentina
Brazil
Suriname
Mexico
United States
United Kingdom
Portugal Spain
Germany
Italy
Bosnia
Ukraine
Lebanon
Nigeria
DR Congo
France
Thailand
IndonesiaMalaysia
08
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
Subud Groups awarded around the World
Grant 2018: USD 79,000
INTERNATIONAL HELPERS TRAVEL
The Foundation supports travel for International Helpers through grants to the World Subud Association. Each year International Helpers travel in each of the three Areas of the globe meeting with Subud groups of all sizes, attending national Subud events and working with national, regional and local helpers. In a typical year, the 18 international helpers make over 80 journeys to approximately 50 countries.
Original analogue reel-to-reel tape recording of Bapak’s talk, photo courtesy WSAA.
Grants to WSA
International Helpers Area 2 visiting Subud Oslo Norway Gathering, March 2019, photo courtesy Howard Ray.
Grant 2018: USD 34,028
ARCHIVES
MSF has continuously supported the preservation of Bapak´s and Ibu Rahayu´s talks where grants are provided to the World Subud Association Archives Committee (WSAA).
09
ANNUAL REPORT 2018
Arnaud DeluneFrance, Liaison with
Subud Congo
Mariamah Flores Paloma de la Viña Levana Fraval Lachlan HunterPuebla, Liaison with
Subud Mexico
Madrid, Liaison with
Subud Spain
Los Angeles, Liaison with
Subud USA [West Coast]
Christchurch, Liaison with
Subud New Zealand
Renata DunnVancouver, Liaison with
Subud Canada
Sandra EgegeAdelaide, Liaison with
Subud Australia
Sjarifah RobertsScotland, Liaison with
Subud UK
Murtado BustilloDurham, Liaison with
Subud USA [East Coast]
Ramonde ZrihenTel Aviv, Liaison with
Subud Israel
We have realized that deeper awareness of MSF still needs to be raised in our Subud community and for that rea-
son we created the MSF Liaison Program in order to spread the Mission and Vision of the MSF.
MSF attempts to have one or more Subud members in each country that is a member of the World Subud
Association to take on the role of “MSF Liaison”. This program was set up to insure that there is a person in each
country that attends national and zonal meetings and presents a short overview of MSF, its goals, current financial condition, where the grants are being distributed and the process of receiving funding for the now three major areas of support: Subud Houses, WSA International Helper Travel and International Archives.
The Liaisons are nominated by the Chair of each country and then approved by the MSF Trustees. The term of this role is from World Congress to World Congress or four years. When Trustees of MSF are available they assist in these presentations.
We currently have ten Liaisons but are hoping for more by the end of 2019 to serve in the communication role
MUHAMMAD SUBUH FOUNDATION
My experience as MSF Liaison by Lydia Farrand
It was during the 2014 world congress in Puebla, Mexico, when I became reacquainted with MSF and soon found myself working as a national liaison for the Foundation.
I remembered hearing about the Foundation when it was first set up in the 1990s but had always associated it with wills and bequests, something to be kicked down the road for future consideration. I had certainly not taken much notice in the intervening years. In taking on the role of a national liaison, reading past newsletters and perusing the website in search of information, I became increasingly aware of the tremendous importance of MSF, not just for building financial stability for the future but for its support of current projects within our global Subud community.
It has been extremely rewarding on so many levels to help raise awareness of the Foundation in some small way. I’ve been surprised by just how many members haven’t heard of MSF, or don’t know what it does. Every presentation given, every leaflet distributed and every poster displayed at gatherings and congresses sows the seeds for future donations and bequests, or for future projects to be funded. As liaisons we may never fully understand the difference we make in speaking forth, but I have seen members moved to ‘give’, and truly grateful for the reminder of Varindra’s dream and the significance of the Muhammad Subuh Foundation to the future of Subud.
Lydia Farrand
National Liaison USA, 2015-2018
The MSF Liaison Program
We would like to invite Subud Members in different countries to support MSF in the role of the liaison between the MSF and the member countries
Marston GregoryTrustee & Liaison Program Coordinator
MSF LIAISON PROGRAM
MUHAMMAD SUBUH FOUNDATION
10
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
Contribution from Subud Members
Dividends & Interest
Realized gains
Unrealized gains/losses net
Gains on Foreign Currency exchange rates
Management Fee
Net Assets Released from Restrictions
SUPPORT AND REVENUE
Total Support and Revenue
EXPENSES
Grants for Subud Houses
Grants for World Subud Association
Grants Other
Amanecer property costs
Depreciation Expenses on Long Term Assets
Total Program Expenses
Management and General
Total Expenses
Change in Net Assets
Net Assets Beginning of Period
Transfer - Inflation uplift
Net Assets End of Period
2018
Unrestricted
24,682
63,589
145,939
-861,356
190
18,893
60,498
-547,565
53,980
113,028
8,260
33,000
5,475
213,743
161,874
375,617
-923,182
3,118,857
0
2,195,675
2018
TemporarilyRestricted
41,188
56,859
130,622
-287,848
-553
-18,893
-60,498
-139,123
0
0
0
0
0
0
0
0
2018
PermanentlyRestricted
3,752
0
0
0
0
0
0
3,752
0
0
0
0
0
0
0
0
2018
Total
69,622
120,448
276,561
-1,149,204
-363
0
0
-682,936
53,980
113,028
8,260
33,000
5,475
213,743
161,874
375.617
2017
Total
74,115
93,124
132,136
962,238
-513
2,800
0
1,263,900
63,005
106,125
2,318
12,836
5,475
189,759
106,582
296,341
Statement of Activities and Change in Net Assets.
FISCAL REPORT (USD)
-139,123
174,879
-41,461
-5,705
3,752
1,497,232
41,461
1,542,445
-1,058,553
4,790,968
0
3,732,415
967,559
3,823,410
0
4,790,969
1
2
11
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
Index 1. MSF Investments:The world stock markets were very volatile as demonstrated in the 2017 and 2018 results. This is the reason why MSF are
long term investors in their portfolio and with the management of their professional advisors are able to even out these
fluctuations.
In the fourth quarter of 2018 the stock market took a downward trend and the MSF portfolio showed unrealized losses (ie
paper losses) which are shown in the 2018 audited accounts of USD 1,1149,204. These losses include both the managed
investments and those of Asiamet Resources Ltd.
These losses should be compared to the unrealized gains shown in the 2017 audited accounts of USD 962,238.
In the first quarter of 2019 nearly all of the unrealized loss in 2018 were picked up again when the market recovered.
The Asiamet Resources Ltd shares (previously known as Kalimantan Gold shares ) gifted over the years to MSF alone
showed an unrealized loss in 2018 in share values of USD 540,577.
The MSF trustees together with their professional advisors monitor the portfolio of shares held on a daily/monthly basis
and review the long term investment strategy to satisfy themselves that the average annual targets are being achieved.
Index 2. Grants for Subud Houses: USD 53,980 is split as:
Grants Awarded: USD 29,000.
Loans converted into grants for the following groups: Accaribo (Suriname), La Florida (Chile), Durham (USA), Sao Paulo (Brazil):
USD 24,980
Statement of Activities Notes
12
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
Financial Report
Seven Year Trend
2018 2017
Cash
Accounts Receivable & Prepayments
Investments
Notes Receivable from Subud Organisations
Land and Buildings Net of Accumulated Depreciation
Total Assets
Euro Loan
Accounts Payable
Total Liabilities
Total Net Assets
Unrestricted - General Fund
Total Unrestricted Net Assets
Temporarily Restricted
Permanently Restricted - Permanent Capital Fund
Total Funds
570,086
7,182
4,173,450
114,980
104,847
4,970,545
79,510
100,066
179,576
4,790,969
3,118,858
3,118,858
174,879
1,497,232
4,790,969
FUNDS
LIABILITIES
ASSETS
377,601
2,800
3,267,921
111,025
99,372
3,858,719
77,734
48,570
126,304
3,732,415
2,195,675
2,195,675
-5,705
1,542,445
3,732,415
Gifts
Grants
Assets
88,680
92,300
3,350,033
760,370
173,102
3,852,545
329,719
9,000
3,490,029
635,716
377,083
3,988,262
74,115
184,284
4,970,545
69,622
208,268
3,858,719
177,617
229,350
3,987,935
2012 2013 2014 2015 2016 2017 2018
13
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
The Foundation frequently receives inquiries from members on how
to gift their shares of Kalimantan Gold Corporation – now called Asiamet Resources. We are very fortunate to receive bequests, cash donations
and gifts from members and hope the following explanation
provides further context to those holding Asiamet shares.
Asiamet Resources (symbol on the London AIM exchange: ARS) is the corporation that was formed after it acquired Kalimantan Gold Corporation. Many members that now hold shares in ARS realize that they have no liquidity. This means it cannot be ‘cashed in’. One reason for this is that brokers (that do market transactions) do not like to deal with ‘penny stock’ due to the high-risk nature of the companies involved – especially mining companies. So, brokers do not accept ARS shares for you to trade. In 2018, the price of ARS shares on theexchange ranged between 4¢ to around 11¢.
Over the past two years a number of members have gifted their shares of ARS to the Foundation using Computer share UK. Computershare UK is a company that will hold your shares and issue a paper certificate to you – in case the original paper certificate you have was misplaced or damaged. In most cases the member gifting their ARS shares alerted the Foundation of the pending transaction but not in all cases.
Unfortunately, when the Foundation receives the certificate from Computershare UK there is no information regarding the individual that gifted it to us. All that is received is the number of shares issued on a new certificate into our account.
When the Foundation is aware of the individual member that gifted the shares, it is able to send a follow up tax-free donation thank you letter. For those members that do not alert us of a transfer we would like to recognize you as a donor.
Below is a table with the date and number of shares that were issued to the Foundation. If you see a share number on this list that matched your gift and did not receive a follow up letter please let us know by contacting our executive director Renato Sotelo at: renato.sotelo@msubuhfoundation.org
Renato is also available to assist you with any questions you have regarding Computershare UK transfers.
The trustees sincerely wish to thank all the members that have donated their Asiamet Resources shares to the Foundation over the past years.
Asiamet Resources
Gifted to MSF
Lucian Parshall, Trustee & Corporate Secretary
Dec 4, 2018
Oct 5, 2018
Oct 9, 2017
Aug 24, 2017
Aug 11, 2017
Aug 11, 2017
Aug 11, 2017
79,177
3,179
10,000
2,676
2,068
2,891
252
4,644
15,747
3,884
23,621
20,000
2,271
79,869
Date of transfer Date of transferJun 28, 2017
Jun 28, 2017
Jun 12, 2017
Jun 6, 2017
May 23, 2017
May 15, 2017
Apr 3, 2017
Number of sharesNumber of shares
14
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
The Muhammad Subuh Foundation would like to express our sincerest appreciation to all of
you who have given to the Foundation during 2018, as well as to the hundreds of members
who have donated since MSF’s inception in 1991.
Donations & Bequests
Varindra Vitachi, Founder of Muhammad Subuh Foundation, at 1990 Subud USA Denver Gathering, photo courtesy Simón Cherpitel.
The trustees have pledged themselves to follow Bapak’s injunction that the Muhammad Subuh Foundation ‘would look after money well’, so that members who make bequests and donations may have full confidence that they will be prudently and trustworthily handled in accordance with their wishes”.
Varindra Vitachi, NYC, 1991.
15
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
Who we areThe Team
Administrative Staff Team in Colombia
Board of Trustees
Lucian ParshallTrustee &
Corporate Secretary2018-2022
(USA)
Mauricio Castillo Chairperson2018 - 2022
(Chile)
Michael HeathcoteTrustee & Treasurer
2016 - 2020(UK)
Marston GregoryTrustee
2018 - 2022(USA)
Federica PulidoTrustee
2018 - 2022(Colombia)
Elaina DodsonTrustee
2016 - 2020(USA)
Muchsin SilvaTrustee
2016 - 2020(Colombia)
Nahum HarlapEx-officio Trustee
2018 - 2022(Australia)
Uraidah ArratiaTrustee
2018 - 2022(Dubai)
Lillian ShulmanAdministrator
(USA)
Renato SoteloExecutive Director
(Chile)
Elwyn WaughChartered Accountant
(UK)
Helene JelmanPortfolio Manager
(UK)
Luqman RiveraMSF Legal Representative
in Colombia
Carlota Barney Assistant in Amanecer
Portfolio Manager
16
ANNUAL REPORT 2018
MUHAMMAD SUBUH FOUNDATION
Who we areThe Team
Kejiwaan Support from the World Subud Association
Halinah Rizzo-BusackInternational Helper Liaison to MSF
2018-2022(USA)
Suryadi Haryono SumohadiwidjojoInternational Helper Liaison to MSF
2018-2022(Indonesia)
Hannah BaerveldtLiaison with Yayasan Subud
2018-2022
Olvia ReksodipoetroLiaison with Yayasan Muhammad Subuh
2018-2022
Lydia FarrandRecording Secretary
(USA)
Stuart NauenTranslator
(Chile)
Margarita FiscóAnnual Report
Graphic Designer(Chile)
Andrew MorganWeb Designer
(USA)
Great Collaborators
Fatimah Bustillo Board Meeting Translator(Rungan Sari/Kalimantan)
Liaison with the Foundations (Yayasan) holding MSF assets in Indonesia
17
ANNUAL REPORT 2018
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