Shambhala News Service
03 Apr 2008 – Shambhala Members More Than Match the Gregg Campbell Challenge
Gifts by hundreds of Shambhala members throughout the world have now exceeded the total needed to release the full $250,000 matching gift offered last fall by Colorado community member Gregg Campbell through The Sakyong Foundation.
The $250,000, combined with a similar amount from the bequest announced in January 2008, means that we have been able to completely payoff all of our operating debt of approximately $525,000.
The campaign was announced on Harvest of Peace, and continued through Shambhala Day. In order to receive the entire match, we needed $25,000 per month in new or increased recurring donations.
As of 3 March we had received:
New and increased individual donations totaling $12,621 per month
An increased monthly donation of $1,200 from Shambhala Europe
New and increased transfers from Shambhala centres in North America totaling $755 per month
One-time donations of $149,501 providing a monthly equivalent of $12,458
The grand total so far is: $27,034 per month.
These new recurring donations will be used for new services, to be discussed by the Sakyong’s Council and, later this year, meetings of the Mandala Council.
This encouraging news is somewhat tempered by the continued fall of the US dollar against the Canadian dollar. During 2008, the value of the US dollar declined from $1.17 Canadian to $0.99. This means the value of our US revenue declined about $7,500 per month, or $90,000 per year. For a more detailed description of the exchange rate and its affect on Shambhala, pleaseclick here.
As a result, the monthly amount available for new services is $7,076. (New recurring gifts from individuals $12,621 plus $1,955 from Europe and other centres minus $7,500 to cover the exchange rate loss equals $7,076). This is less than we had earlier hoped, but nonetheless marks a significant shift due to the support of members and centres worldwide.
Thanks to everyone who made this campaign a success, Shambhala is now free of its central operating debt and on much firmer financial footing. Our recently adopted Principles on Financial Sustainability, provide the view for maintaining that stability in the future. To view the Principles, please click here.
For comments or questions, please contact the Shambhala Treasurer Connie Brock or Terry Rudderham, Director of the Shambhala Office of Finance and Development,
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(This announcement was from the Shambhala News Service)
