fbpx

KCL Financial Overview

2021 Karmê Chòling Financial Overview

This past year, Karmê Chöling took advantage of the pandemic related slower on-land activity to perform infrastructure upgrades and updating; recognizing we would be uses reserves to fund some of the work.  We replaced windows in the main house with tighter energy efficient windows; we did some upgrades on our heating plant and water system, as well as a number of smaller repair projects. These activities were funded from a combination of donations and capital reserves.  As a result of this additional work, we ended 2021 with a negative cash flow of $38,747.  While we always strive for a positive year-end cash flow this was a good and intentional investment in Karme Choling’s long-term health.  On a positive note, our long-term liabilities are dropping quickly. In 2021 we reduced our mortgage debt by over $53,000. This will only increase with each additional year.

Note 1. Housing revenue has been distributed between Programs, IHR, Residency and Cabin Retreat to display the their full revenue contribution.