KCL Financial Overview

2020 Karmê Chòling Financial Overview

If 2020 were a normal year at Karmê Chöling, programming between May and November would generate the majority of our income. In 2019, we realized that we needed to reduce costs and shifted to a seasonal model with a reduced winter session. Our first winter session began on November 1, 2019 and was scheduled to end May 1, 2020. Unfortunately, as we began hiring staff and planning for our summer session, the severity of the Covid 19 pandemic became apparent. This led us to cancel all in-person programs for the remainder of 2020. This also led to a 60% drop in revenue.

Because of the loss of program income, donations were especially important to Karmê Chöling this year and accounted for half of our revenue stream. In previous years donor revenue was closer to 22%. Some of this increase was due to generous donations during our 50th anniversary. 

In response to the COVID crisis, we shifted our programming online and introduced a residency opportunity. This program allows individuals to deepen their meditation practice by living in community at Karmê Chöling for one to twelve months. We also focused on maintaining and upgrading the Karmê Chöling infrastructure. We installed a new standing seam roof on the pavilion, remodeled the Aloka room, installed a new floor in the community room, and installed small roofs over the Main Shrine Room and East Wing emergency exits. Despite the loss of program income, the residency model, donations, and a forgivable loan (due to the CARES Act) allowed Karmê Chöling to end 2020 with a net cash gain of almost $80,000.

Please click here for the 2020 KCL Financial Report