The State of Financing for the Institute How much does the Institute cost?Since the beginning of the construction project, the total cost of the Institute was estimated to be 3.83 million Euros. As for any project of this size, additional finishing, construction, and fees were necessary.The final cost of the Institute thus comes to 3.98 million Euros.
How will the Institute be financed? Since 1997, a donations campaign has been underway in order to assemble the funds necessary for the realization of the Institute aspired by the 16th Gyalwa Karmapa. The Circle of Founding Members was created at the invitation of Lama Jigmé Rinpoché, to gather together all those who wished to be associated to the project. Several hundred people joined this circle. Some brought their skills, others their financial support, either regular or occasional. The commitment of the founding members allowed the project to be brought to the foundation stage of the building in 2002 and assured that the library could begin to function. In order to go on to the next stage in collecting funds, this circle was closed in 2004, once the site had been blessed and the first stone placed in ceremony. As the funds continued to arrive, the donations were placed in accounts dedicated to the project and regularly transferred to savings accounts which generated interest. In August 2010, during the Dhagpo Kagyu Ling general assembly, Lama Jigmé Rinpoché announced that the project would resume after several years interruption. Since that time, many more people have come into action for the project. Since work on the site resumed in February 2012, the fund drive has seen a tremendous increase. The total of the donations collected through the beginning on 2013 has risen to 2.08 million Euros to which 150 000 Euros is added in interest from the savings accounts. The majority of this sum comes from supporters while several tens of thousands of Euros were offered by associations closely invested in this project such as Landrevillage, some KTT or by some centres outside of France. The evolution of total donations since the beginning of the financing campaign for the Institute In addition to the donations for the project, about seventy backers gave their support to make a loan contract to complete the construction, including the adjustments and landscaping outside the Institute. These loans, generally without interest, were signed by Lama Jigme Rinpoche. They are being reimbursed progressively, according to the individual contract agreements, as money arrives through fundraising; the objective is to finance the totality of the Institute through donations.
How are the funds being used? Thanks to the commitment of many volunteers, the entire cost of the Institute could be contained at 3.83 million Euros. This sum can be divided into seven principle sectors:
This essentially includes purchases for:- Fabrication or Acquisition of Supports for Offering- Creation of Communication Materials- Event Operations In addition to the original budget, the 2015 and 2016 fundraising campaigns are necessary to finalize the solely donation-based financing of the Institute.
How much is still needed to complete the financing?Today, the total of donations covers 54% of the global cost of the project. 1.6 million Euros are still needed for the Institute to be completely financed by donations. This sum corresponds to the loans remaining to be reimbursed to the backers. Financing the entire Institute through the generosity of as many people as possible also means connecting a maximum number of people to this adventure led by the 17th Karmapa Trinlay Thaye Dorje.
YOUR FISCAL DEDUCTIONFiscale receipts can be provided to individuals or any enterprise participating in financing the institute.
Dhagpo Kagyu Ling - Landrevie - 24290 Saint-Léon sur Vézère - France - 0033 5 53 50 70 75 -