Dear Shambhala Members,
Below, please find a link to access the Interim Board’s current financial report for the Shambhala community. Our intention is to provide a clear and understandable representation of our current financial situation and the IB’s financial plans for the near term.
Key points that we want all community members to be aware of include:
- Revenue is down almost 60% from the beginning of 2018.
- Shambhala does not pay any living expenses for the Sakyong, the Sakyong Wangmo or their children. Funding attributable to support of Sakyong Mipham Rinpoche teaching activities (editing, translation, publication support and staff assistance for travel while teaching and writing) was reduced in November 2018, has been cut further this quarter and will end completely by May 31.
- Operating expense payments to the Potrang are limited to cover rent for shared office space.
- Shambhala has debt of more than $1.3 million USD due this August. At this time, we do not have sufficient revenue to pay these loans back through operations and are moving toward selling Marpa House to clear this debt and have sufficient operating capital to restructure Shambhala.
- We have decreased operating expenditures down to the minimum resources required for basic organizational needs, and will still most likely end this year with an operating deficit of approximately ($118,000).
Please click here to access the full March 2019 financial report. Please note that you will need to log in with your Shambhala member credentials. If you have issues accessing your member login, contact email@example.com. We plan to provide this level of financial information quarterly and hope that you find it helpful.
Thank you for your continued support,
The Interim Board