KCL Financial Overview

2022 Karmê Chòling Financial Overview

2022 was a challenging year for KCL. While we are blessed with a magnificent facility, we are also burdened by an aging infrastructure. There is endless work to do just to maintain our beautiful center. In addition, KCL was still seeing the negative impact on revenue from the pandemic and the internal Shambhala changes.

The combination of all this resulted in lower revenue and slightly higher expenses.

Our 2022 loss was ($232,326.05) and as a result, we had to continue to utilize our reserves in order to maintain operations. However, when we remove the interest, taxes, and depreciation (ITD) from the equation, our loss is only ($20,243.49). This is significant because ITD are “outside” of operations and removing them from the equation indicates the efficiency with which our center is run.   

With a return to “normal” program revenues and continued internal efficiencies, KCL should see an excess on our 2023 bottom line and the start of a sustained recovery.

KCL Statement of Activity 2022

KCL Statement of Financial Position 2022