The Prem Rawat Foundation 2003 Annual Report
The Prem Rawat Foundation, which is dedicated to promoting and disseminating the lectures, speeches, art, music, and public forums of Prem Rawat, known also as Maharaji, has had a very successful first year. Since commencing its activities in the early part of 2002, the Foundation has helped bring his message of peace to more than 700,000 people throughout the world.
2003 was the second operational year for the Prem Rawat Foundation. Various achievements were accomplished in this year in fulfilling its purpose which is to promote and disseminate to the general public the speeches, writings, music, art and public forums of Prem Rawat.
The Prem Rawat Foundation sponsored events for Prem Rawat to speak that included University of California, Berkeley; Nova Southeastern University; and University of Colorado, Boulder. The Foundation produced numerous audio, video, and printed materials including a book, articles, and informational thematic brochures giving insights and awareness of Prem Rawat's message.
The Prem Rawat Foundation obtained its 501c3 IRS determination letter, effective November 2001, and the California State exemption letter for the corporation and developed its donor base to over 1,200 persons, raising over $703,000 in 2003 and $800,000 in 2002
The Foundation has received tens of thousands of acknowledgements by individuals inspired by Prem Rawat and his message.
The Foundation is working on many exciting new communication projects and is developing other works, materials, programs and forums to make available the possibility of peace within, which Prem Rawat offers.
We wish to thank the generosity of all the appreciative individuals who have supported the Foundation’s efforts and we are looking forward with great enthusiasm, commitment and passion to another wonderful year of growth and opportunities.
The Foundation’s Financial Statements are prepared on an annual basis and audited by an independent accounting firm. Below is a summary overview of the Foundation’s financial activity during 2003 and compared to 2002 for reference purposes. The tax returns for 2003 and 2003 filed with the Internal Revenue Service Form 990 and the State of California are available for viewing at the Web site www.guidestar.org as well as the California Attorney General’s Web site.
Contributions to The Prem Rawat Foundation is supported by over 1,200 individuals. Additional revenues were received from Program Services the sales of printed materials,audio and video media contributing importantly to the accomplishment of the organization's exempt purpose by making available the speeches and writings of Prem Rawat. The books, magazine article reprints, Video tapes, DVDs and Audio CDs were sold to the general public in furtherance of the organization's purpose. These 2003 revenues are illustrated below with 2002 for reference purposes.
Total Revenues for 2003 were $1,028,389 and Expenses were $971,934. Total Assets of $536,441 less liabilities of $21,332 totaled Net Assets of $515,109 as of 12/31/2003. These figures are illustrated below next to 2002 similar figures.
The allocation of the $971.934 expenses by Function are illustrated in following chart
2003 Expenses by Type and Percentage Allocation
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Board of Directors Linda H. Pascotto
Director / President
