Quote
Morgaine
Hi all,
How is it possible that in the space of only a few years, the SGI went from having no money to taking in $40 million in 1960??? That seems very strange to me. just a few years earlier they were broke. I wonder if they got money from other sources than just the pubs?? Does anybody know???
Morgaine, SGI is slipperier than a wet eel when it comes to finances. I very much doubt that SGI was broke, even in the 1950's. SGI leaders would like you to believe that the SGI can barely pay the electric bills at the community centers. It's not true. SGI has always been very good at separating members from their money, and in addition owns businesses and property. Consider the following:
SGI began a period of rapid growth after World War II. Josei Toda, the second president, had the goal of having 750,000 households as SGI members by his death. He died in 1959, having met this goal. Now, if each of those 750,000 households gave the yen equivalent of ten dollars a year -- that's $7, 500,000 per year -- just from donations from the Japanese members, not even counting sales of publications. And realistically, it would have to have been MUCH more than 7.5 million in donations per year. Some households might not contribute at all, but many would contribute more than ten dollars.
The Japanese Soka Gakkai initially had members bringing cash to meetings, but apparently certain leaders were taking their cut. By 1985, Soka Gakkai Japan was doing "bank transfers," or direct withdrawals from members' accounts:
[
forum.culteducation.com]
This cash has been invested through Mitsubishi Bank Tokyo. (page 69 of this thread.)
SGI is also connected with many different varieties of business in Japan: (page 65 of this thread.) Apparently, SGI owns, or owned at one time, 10% of the Tokyo Disneyland Stock, as part of a large and well-balanced stock portfolio.
[
forum.culteducation.com]
SGI also owns millions of dollars worth of real estate in Hawaii, California and New York City. (page 104 of this thread).
[
forum.culteducation.com]
In 2005, Forbes magazine estimated that SGI had over 100 billion dollars in assets:
(page 42 of this thread)
[www.forbes.com]
[
forum.culteducation.com]
And yet, when SGI-USA filed its IRS 990 form in 2007, which all organizations claiming nontaxable, nonprofit status in the U.S. must do -- it claimed to have zero revenue, zero assets! How can this possibly be? Well, SGI's Soka University has close to one billion in assets, 80 million dollars in revenue. SGI money was moved around and put into Soka U! Creative accounting, but I'm sure it's all perfectly legal! (page 42 of this thread)
[
forum.culteducation.com]
[nccsdataweb.urban.org] 
1. Name & EIN Soka Gakkai International USA (952265667) 
2. Street 606 Wilshire Blvd 
3. Location Santa Monica, CA 90401 
4. County Los Angeles County, CA 
5. Ruling date 
( Approximate year when founded.*) 1968 
6. IRS type 501(c)(3) - Public charity: Religious, educational, charitable, scientific, and literary organizations... 
7. Legal basis for public charity or private foundation status (FNDNCD) 10 - Church 
8. NTEE Q99 - International, Foreign Affairs & National Security N.E.C. 
9. Most recently completed fiscal year (TAXPER) 12/2007 
10.
Total revenue $0 
11.
Total assets $0 
_____________________________ 




The motherload is Soka University of America (953909672) 

Close to 1 BILLION in assets. 

$80 million in revenue.[/b] 


Notice below, that Soka Gakkai International puts their money into Soka U. 
And since Soka Gakkai International has $0 assets, then it appears that ALL of the SGI-USA money goes into the Soka U (aka investment real estate holding company!)(wink wink)
So -- what are we to believe about SGI and money? 1.) SGI has a a lot of money, and 2) The Soka Gakkai is incredibly devious and sneaky about where the money actually is and how it has been used throughout the years, and that's not going to change.
Edited 1 time(s). Last edit at 06/11/2010 05:16AM by tsukimoto.