Letter from NI Directors

Dear Friends,
We are at a turning point in our Dakini Mountain Emergency Fund campaign that was launched because of the pandemic.

When we purchased Dakini Mountain it was with seller financing that expires this October 2022. At that time we will need to have raised an additional $875,000 in donations to refinance the property.

We had originally campaigned to find guarantors and $350,000 to support a refinance which is due in October, 2022. Since that goal was not met on time, we are now pivoting to refinance the property on our own, an option made possible if we can raise $875,000.

Purchasing Dakini Mountain was a sound business decision at the time, but we had no way of foreseeing that it would be closed for its first three years due to a global pandemic.

While it was closed for the pandemic, because of the widespread financial strain and fear, our fundraising focused primarily on making the operating expenses. This would have been covered had Dakini Mountain been open. So because of the pandemic, we fell behind in three years of infrastructure development and fundraising. Our plan now is to continue to fundraise, and if we cannot raise that money, to sell the property and downsize to a new smaller location for Dakini Mountain.

2022 seller financing runs out in October 2022. To accomplish the refinancing and catch up on infrastructure development at that time we still need $875,000 in donations.

2018-2022 Our community raised $209,000 for the Dakini Mountain Emergency fund from 2018-2022 to cover the “Bare Bones” expenses while closed for the pandemic. If we need to sell Dakini Mountain, this is included in the total equity that will be applied to the next downsized version of Dakini Mountain 2.0 (depending on the price of the sale). Our goal would be to reinvest whatever funds were raised into Dakini Mountain 2.0.

Therefore, an investment in Dakini Mountain remains an investment in the future. However, as we work through the complexities of this transition, we recognize that we may need to dip into reserves to meet selling costs or operating expenses.

Gratitude and appreciation goes to all who have supported Dakini Mountain with your donations, service and support. We greatly appreciate that support and endeavor to continue to make the most prudent and sustainable choices for the financial future of our community.

The members of the board assure you that they have carefully and thoughtfully considered the alternatives, and after much reflection, have decided that this is the most sustainable and prudent course to preserve the Sangha’s investment and sustain the vision of Dakini Mountain.

What Can Happen Now
Should friends of the community wish to save Dakini Mountain and make a $875,000 donation, we would be able to keep the current property and make infrastructure upgrades.

If we do not raise these funds, then we will sell the property, because unless these donations arrive, our priority must shift to a prudent plan to continue to sustain the donations we have received and continue to build equity. If we do not meet our current fundraising goal, whatever funds are raised will go into the new property.

We could have never foreseen the pandemic and it has dealt a serious blow to our plans for Dakini Mountain. However, whatever comes, we will adapt creatively and make sound investments that will continue to protect the community’s investment and allow us to transition to a smaller scale version of the sanctuary that we had hoped Dakini Mountain could be.
If you would like to donate to Dakini Mountain Emergency fund click here:

If you have any questions, feel free to contact us.
info@BuddhistStudiesInstitute.org

On behalf of the Board of Directors,
Aruna Rigdzin & Satya Shiva
Directors, Ngakpa International