The Nunnery Endowment is a fund permanently restricted by the Board of Directors of The Marpa Foundation for the Study, Practice, and Support of the Buddha Dharma (“Marpa Foundation”) that is used exclusively for the long-term support of Rinpoche’s four nunneries: Tek Chok Ling (Boudhanath, Nepal), and Karma Drubdey (Kuenga Rabten, Bhutan), Drolma Puk and Rangjung Chorten Nunnery (Nyemo, Tibet).
The purpose of the Nunnery Endowment is the long-term support of the nunneries, principally by either fully or partially covering their expenses related to operations, education, food, clothing, salaries, and building maintenance and repair. The principal of and any investment gain earned by the Nunnery Endowment Fund is used only for these purposes.
The Nunnery Endowment Fund is overseen by the Marpa Foundation Board of Directors, and administered by an Investment Committee under the Board of Directors. Funds contributed to the Nunnery Endowment are held in a segregated account, apart from other Marpa Foundation monies. Investment policy and strategy is determined and periodically reviewed by the Investment Committee of Marpa Foundation.
Disbursements from the Nunnery Endowment to the Nunneries are made pursuant to an annual plan approved by the Marpa Foundation Board of Directors.
In order to achieve its goals, Marpa Foundation relies on the professional advice of an investment management firm, appointed by the Board of Directors, comprised of financial professionals with experience in investment and portfolio management.
Additionally, the Board of Directors of Marpa Foundation seeks the advice and guidance of Dzogchen Ponlop Rinpoche in regard to the Nunnery Endowment and collaborates other Marpa Network organizations dedicated to supporting KTGR’s nunneries as part of an international effort to provide for the long-term support of the Nunneries.
The Marpa Foundation for the Study, Practice, and Support of the Buddha Dharma is incorporated under the laws of the State of California and is recognized by the Internal Revenue Service as a qualified 501(c)(3) tax-exempt religious organization. It is governed by the rules and regulations pertaining to nonprofit organizations in the United States.
The Marpa Foundation for the Study, Practice, and Support of the Buddha Dharma is a qualified 501(c)(3) tax-exempt organization and donations are tax-deductible to the full extent of the law. The tax deductibility of donations from non-United States taxpayers is subject to the laws of each applicable jurisdiction.
Please consult your accountant and/or tax advisor to ascertain whether your donation will be tax-deductible. Marpa Foundation will provide you with documentation regarding your donation.