Gaudiya Vedanta Publications Visvamar Edition

2012-2013GAUDIYAVEDANTAPUBLICATIONSFinancial Report

2012-2013GAUDIYAVEDANTAPUBLICATIONSFinancial Report

MESSAGE FROMOUR TREASURERJanuary 31, 2015Respected Devotees,Please accept my humble pranama. All glories to Srila Gurudeva, Sri Srimad Bhaktivedanta Narayana Gosvami Maharaja. All glories to Sri Guruand Sri Gauranga.For nearly twenty years now, the English branch of Srila Gurudeva’s publishing house, Gaudiya Vedanta Publications, Inc. (“GVP”), has beentranslating Srila Gurudeva’s Hindi books and presenting his English lectures. Many of his disciples and followers have expressed that they wouldlike to better understand how GVP functions, since Srila Gurudeva repeatedly stated that the publishing and distribution of his books was mostdear to him.In an attempt to share information about GVP, we will begin by presenting an executive summary of GVP’s financial records from years 2012and 2013. GVP is a non-profit organization. It is the exclusive licensee of the English intellectual property* of Sri Srimad Bhaktivedanta NarayanaGosvami Maharaja (Srila Gurudeva) and the international licensor for translations of his written works.When Srila Gurudeva was physically with us, he financed all publications and operations though the donations he received via his GeneralDhaksin Fund, which I administrated on behalf of Bhakti Projects, Inc along with several other senior devotees. Currently, the publishing of SrilaGurudeva’s books continues with the support of a handful of devotees who donate to GVP’s Endowment Fund or toward general expenses.The GVP Endowment Fund is an investment fund set up to pay for the printing of each of Srila Gurudeva’s publications, to ensure that theyperpetually remain in circulation through the sales income of that title. For every new title GVP prints (or non-endowed older titles), anendowment fund is established. In this way, a person directs his donation toward a specific publication. As the book is sold, its printing cost isput back into that book’s endowment fund. When it is time to reprint it, the capital is waiting in the endowment fund to finance the reprint of thatparticular title that was already endowed. In other words, a person’s donation for one printing of a particular title is actually a donation for multipleprintings. Once a book is endowed, there will always be funds to reprint it.The GVP Endowment Report presented here shows a list of Srila Gurudeva’s English titles and the funding they have received.Based on GVP’s endowment and fiscal policies, our report has shown the following:The Endowment Fund is over 100% financially solvent, by cash and inventory assets.Over 65% of Srila Gurudeva’s book titles have been endowed.Income/Sales increased by 36.2% from 2010–2011 to 2012–2013 due to a major increase in book distribution.Production costs of books (printing, shipping and general expenses directly related to book printing) increased by 58.4% since SrilaGurudeva left in 2010. This is mainly because during Srila Gurudeva’s manifest pastimes, some people would fully donate toward theprinting of a particular title, and the other publication needs were often subsidized by individual donors and sevaks as well. All thiscreated extraordinarily low production costs. Since Srila Gurudeva’s departure, GVP has been absorbing the real economic costs*related to book production.Overall expenses increased by 31.98%, for the same reasons outlined above.Operating margins have been low and thin, which is typical of religious and educational publication companies, in which operating marginsare in the low double digits (which is acceptable for a non-profit organization).We hope this report successfully conveys GVP’s financial status, which we are making public to achieve full financial transparency. Details canbe found in the charts, bar graphs and pie graphs below. We are happy to answer any question you may have.We will be presenting the 2014 report on our next report.Yours in the service of Hari, Guru, and Vaisnavas,Vishwambhara dasa, Board Member and Treasurer 1510.708.3886vdas@mygvp.org*Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce. IP is protected in law by,for example, patents, copyright and trademarks, which enable people to earn recognition or financial benefit from what they invent or create (World Intellectual Property Organization).* Real economic cost: the overall actual expense involved in creating a good or service for sale to consumers. The real cost of production for a business typically includes the value of all tangibleresources such as raw materials and labor that are used in the production process. (BusinessDictionary.com)

BALANCEEndowment FundReserves 34,323 (10%)Endowment Fund 180,726 (52%)Endowment FundSavings 105,261 (30%)Accounts Payable 14,682 (4%)Inventory of EndowedPublications 64,691 (20%)Inventory Donated(pre-endowment system) 56,549 (16%)Reserves 22,327 (6%)AssetsAccountsCash 90% 200,942Reserves 10% 22,327AssetsInventoryOperations Budget 62,480 (18%)Operating Account 8,277Savings Account 105,261Petty Cash India 22,456GVP Bhakti Store 21,701Archives Account 17,725Bhakti Store 9,297PayPal GVP Sponsorship 1,767PayPal GVP General Fund 1,665Accounts Receivable 35,120Cash 223,269Inventory 121,240Equity(Value of previous inventoryfrom General Dhaksin Fund) 149,100 (44%)Endowment Fund Liability 108, 726Liabilities&EquityAccounts Payable 14,682Unrestricted Net Assets 138,185(Value of previous inventory from General Dhaksin Fund)Net Income 10,915Equity 149,100*The Endowment Fund is over 100% financially solvent, by cash and inventory assets.SHEET DEC 31, 2013

EXPENSESTotal Expenses 302,581Operations - Office & Equipment 21,769 (7%)Operations - Rent, Utilities, Misc. 42,573 (13%)Operations - Sevak s Maintenace 15,348 (5%)Cost of Goods Sold 156,536 (52%)Media Archives - Grant 22,404 (8%)Book Sponsorship Program - Grant 43,950 (15%)Office&EquipmentExpensesAccounting Fees 1,000Legal Fees 679Merchant Fees 3,050Paypal 592Complementary Books 524Freight Expense 729Postage, Mailing Service 67Supplies 10Telecommunications 338Computers & Equipment 7,805Operation (other) 911Advertising 198Banking 1,351Staff Development 149Travel & Meetings 3,899 21,769Cost ofGoods SoldGrantsCost of Goods Sold 147,291Cost of Fulfilling Goods Sold 9,245 156,536Book Sponsorship Program 43,950Media Archives 22,404 66,354Sevak sMaintenanceRent,Utilities&Misc. 15,348India Office 14,056Warehouse (USA-Intl) 22,553Warehouse (India) 5,964 42,573*Increased by 58.4% . Since Srila Gurudevaʼs departure. absorbing the real economiccosts related to book production.JAN 2012 - DEC 2013

INCOMETotal Income 329,604Donations 130,663 (40%)Sales 198,941 (60%)SalesBhakti Store Income 47,426Inventory 147,443Misc. 4,072 198,941DonationsGeneral Fund 43,536Archives 37,617Book Sponsorship 49,510 130,663*Increased by 36.2% . due to a major increase in book distribution.JAN 2012 - DEC 2013

BOOKSPart 10%20%40%60%80%100%Acarya KesariArcana-dipika 4,000 UnfundedBeyond LiberationBeyond Nirvana 3,000 UnfundedSrimad Bhagavad-gitaSri Brahma-samhita 3,500 UnfundedSri Bhajana-rahasyaSri Bhakti-rasamrta-sindhu-bindu 2,900 Unfunded 3,500 UnfundedBhakti-rasayanaBhakti-tattva-vivekaSri Brhad-bhagavatamrtaThe Butter Thief 11,500 Unfunded 3,500 UnfundedSri Camatkara-candrikaSri Caitanya MahaprabhuDamodara-lila Madhuri 2,000 UnfundedDamodarastakamDasa AvataraDiscerning the True Sentimentsof the SoulThe Distinctive Contributionof Sri Rupa GosvamiThe Essence of All AdviceThe Essence of Bhagavad-gitaThe Fearless Prince 2,500 UnfundedFive Essential Essays 1,500 UnfundedSri Gaudiya Giti-guccha AbrigedGaura-vani Pracarine Full EditionGaura-vani Pracarine 28,350 UnfundedGiriraja Compilation 225 UnfundedGoing Beyond VaikunthaGopi-gitaGovardhan Coloring Book 11,000 Unfunded*Investment fund set up to pay for the printing of each of Srila Gurudevaʼs publicationsENDOWED TO DATE

BOOKSPart 20%20%40%60%80%Guru-devatatmaSri Harinama Maha-mantraHarmonist MagazineHarmony 1,650 UnfundedThe Hidden Path of DevotionImpressions of BhaktiJaiva-dharmaJourney of the SoulLetters from AmericaMadhurya-kadambini 3,200 UnfundedMaharsi Durvasa and Sri Durvasa-asramaSri Manah-siksaMy Siksa-guru & Priya-bandhuSri Navadvipa-dhama-mahatmyaSri Navadvipa-dhama Pocket GuideSri Navadvipa-dhama Parikrama 4,000 Unfunded 600 Unfunded 7,000 UnfundedThe Nectar of Govinda-lilaThe Origin of Ratha-yatra 3,000 UnfundedOur Eternal NaturePinnacle of Devotion 2,500 UnfundedSri Prabandhavali 1,700 UnfundedPrahalad Coloring BookSri Prema-samputaSri Radha-krsna-ganoddesa-dipikaSri Raya Ramananda Samvada 1,700 Unfunded 1,500 Unfunded 2,700 UnfundedSri Sankalpa-kalpadrumah 1,100 UnfundedSecrets of the Undiscovered Self 5,000 UnfundedRaga-vartma-candrikaSecret Truths of the BhagavatamSri SiksastakaSiva-tattvaSri Slokamrtam-bindu 3,500 Unfunded100%*Over 65% of Srila Gurudevaʼs book titles have been endowed.ENDOWED TO DATE

BOOKSPart 30%20%40%60%80%The Soul of Book DistributionThe Speciality of The Gift ofSri Caitanya MahaprabhuTheir Lasting RelationUjjvala-nilamani 500 Unfunded 5,000 UnfundedUjjvala-nilamani-kiranaSri Upadesamrta 1,800 UnfundedUtkalika-vallari 1,500 UnfundedVaisnava CalendarVaisnava-siddhanta-mala 1,400 UnfundedVenu-gita 3,500 UnfundedVilapa-kusumanjaliSri Vraja-mandala Parikrama 5,225 Unfunded 12,000 UnfundedWalking with a Saint 2007Walking with a Saint 2008 7,000 UnfundedWalking with a Saint 2009Walking with a Saint 2010The Way of LoveFor information & donations go towww.mygvp.com100%*Ensure that they perpetually remain in circulationENDOWED TO DATE

Sri Bhakti-rasamrta-sindhu-bindu Bhakti-rasayana Bhakti-tattva-viveka Sri Brhad-bhagavatamrta The Butter Thief Sri Camatkara-candrika Sri Caitanya Mahaprabhu Damodara-lila Madhuri Damodarastakam Dasa Avatara Discerning the True Sentiments of the Soul The Distinctive Contribution of Sri Rupa Gosvami The Essence of All Advice The Essence of .