zone 9 gathering 2019, subud center mina clavero ... · centers in the world have experienced in...

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.


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

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ANNUAL REPORT 2018


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.


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ANNUAL REPORT 2018

Muhammad Subuh Centre, Kalimantan.


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

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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.


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

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ANNUAL REPORT 2018


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.

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ANNUAL REPORT 2018


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

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ANNUAL REPORT 2018


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).

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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


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


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ANNUAL REPORT 2018


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

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ANNUAL REPORT 2018


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

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ANNUAL REPORT 2018


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

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ANNUAL REPORT 2018


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: [email protected]

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

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ANNUAL REPORT 2018


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.

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ANNUAL REPORT 2018


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

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ANNUAL REPORT 2018


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

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ANNUAL REPORT 2018

Latihan Hall in Subud Mina Clavero, Argentina.


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ANNUAL REPORT 2018

zone 9 gathering 2019, subud center mina clavero ... · centers in the world have experienced in...

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