Ripa Ladrang Foundation

New Treasures Project Status Report
Summary

March 14, 2002

Current Status of the Monastery Project

Construction of the "New Treasures" project began in June 2000 so that the Rigon Tashi Choeling monastery project has been underway for a year and nine months.  A great deal of progress has been made to date year which is obvious by reviewing the photo journal in the history section of the www.ripaladrang.org web site.  This photo journal is being updated this week with the exquisite photos taking during the recent trip to the Nepal site by several of Namkha Drimed Rinpoche's students.  The photos clearly show progress to date, both exterior and interior.  (A graphical stupa representation is displayed on the web site to represent on an ongoing basis the actuals raised vs. fundraising goal). 

Current estimate is still that the monastery will have its Grand Opening in 2003, a date yet to be set by the Terton.  At this time, a pilgrimage is being planned for the Grand Opening, similar to the pilgrimage sponsored by Ripa Ladrang Foundation for the groundbreaking in October 1999, but no specific plans are yet in place.  As soon as we have more information in this regard, it will be broadly publicized so everyone will have an opportunity to attend.

Cost of Construction

Initial preliminary estimates for cost of New Treasures in Pharping, Nepal was $1,250,000 from beginning to end including all furnishings as well as construction of the Retreat Huts and the Ripa Guest House.

The estimate as of today, which is much closer to reality, is $2,750,000 including the Retreat Huts on the retreat parcel.  The Ripa Guest House is still on hold awaiting a feasibility decision regarding its size / design.  This project cost number was increased by approximately $500,000 in January 2002, following the visit to Nepal, meetings with the architect and administrator and Lama Tashi.  The $2,750,000 number is based on having much more final information available on the buildings' details, actual cost of the many statues, and added sections of roofing.

The turnkey contract with Koney Company for the monastery structure itself is $420,000 USD (32,000,000 NRs).  The initial quote in USD of $470,588 was inaccurate, perhaps based on currency fluctuations or currency miscalculations.  A firm quote was received in July 2001 for the Monk Hostel Building, Classroom and Kitchens from Koney in the amount of 43,000,000 NRs or approximately $565,800 USD based on 76 to 1 currency exchange (initially reported to be $614,300).

Firm quotes for specific items are now quoted as:

Fundraising Goals and Actuals

1. Phase I fundraising goal was $250,000 (December 1998 to October 15, 1999) and actual raised was $302,500.00
2. Phase II fundraising goal was $750,000 (October 16, 1999 to December 31, 2000) and actual was $252,727.26.
3. Phase III (a) fundraising goal was $1,000,000 (January 1, 2001 to December 31, 2001) and actual was $201,594.75.
4. Phase III (b) fundraising goal for 2002 is at least $1,000,000 minimum, with hoped for goal to be substantially more than $1,000,000.  Actual donations received during 2002, as of this date, are $33,565.00.

This currently shows a balance of approximately $1,754,980 to reach project completion.  Obviously the year 2002 will be a very intense fundraising year for Ripa Ladrang Foundation's Fundraising Committee and we feel very optimistic about reaching our goals.  His Eminence has conducted several Gesar pujas at the monastery on behalf of our fundraising efforts to assure our success.

Pledges vs. Actuals

Of $559,250  in pledges for Years 2000, 2001 and 2002 we have received pledged donations of $354,665, leaving a balance on those pledges of $204,585. 

Ripa Ladrang Foundation has had the good fortune to date to have several major donors who have generously helped us to reach these goals. 

Years 2001 and 2002 Fundraising Events

During 2001, Ripa Ladrang sponsored several fundraising events which were very successful.  It gave us the opportunity to meet some wonderful new people and establish some important contacts for the future.

This included a beautiful fundraising dinner in Berkeley, California sponsored by the Ripa Ladrang sangha there.  Also in California, in the Los Angeles area, several inspiring and successful events were accomplished.  This included a presentation by Gyetrul Jigme Rinpoche to  three combined civic organizations of young business leaders, also a special get together at the home of one of His Eminence's students where a presentation was made regarding the New Treasures project.  Also in Los Angeles was a "silent auction" fundraising event for thangkas painted by Namkha Drimed  Rinpoche's personal thangka artist and student, Cho Tshering.  In New York City, in the beautiful Peterson Hall, a fundraising event and reception was held - a concert by the music group Zazen as well as a thangka sale where H.E. Namkha Drimed Rinpoche and Gyetrul Jigme Rinpoche gave a presentation about the new monastery project.  They described it as being a very important Buddhist center, one that will have a "living tradition" of enlightenment practice (it will not be a Museum!) and will be a center of learning not unlike the great Samye of Tibet.

Financially the events were very successful.  They netted $25,000 for the New Treasures project total overall, after all event expenses were paid.

Currently plans are being drafted for 2002 fundraising events but no schedules have yet been finalized.  A professional fundraising presentation media is now being drafted by the Fundraising Committee.

Credit Card Donations Available

One very excellent and exciting piece of news during 2001 was the establishment of credit card capability by Ripa Ladrang so that donors to the New Treasures project can now use credit cards if they wish to do so.  This includes the ability to make incremental donations automatically if donors wish to use this opportunity.

Fundraising Committee - Year 2002 Strategic Plan

The Fundraising Committee, consisting of 12 persons, is developing its Strategic Plan for 2002.  There is a lot of work to be done and a great deal of fundraising to be accomplished this year, thus a clear focused approach will be essential.  Fundraising during 2002 will be particularly intense considering the amount of funds required and despite economic conditions globally, the Committee remains very very optimistic.  Particularly since His Eminence arranged three powerful Gesar lungta pujas at the Rigon Thupten Mindolling monastery in Orissa, India on behalf of Ripa Ladrang Foundation's fundraising. 

Funding

Land Purchases

All of the land required for the project (including the monastery site and the retreat land) has been acquired.  It is possible that more land may attempt to be acquired later, after construction is completed, but it is not intended to purchase any more land before the Grand Opening as it is critical to focus on completion of the existing buildings and accessories.