Thanks to our friends and supporters Khyentse Foundation reached a major milestone just before Tibetan New Year with the accomplishing our initial fundraising goal of US$2.8 million to establish the Endowment Fund for Monastic Education. The fund will now be able to provide ongoing support for 700 monks, nuns, and students in the various Khyentse institutes and monasteries in Tibet, India, and Bhutan. It was through the generosity of close to five hundred donors from over twenty countries, including eighty recurring donors in our Matching Funds Program, that we were able to achieve this vital objective.

In November of last year, His Holiness the Dalai Lama presided over the inauguration of the new Chökyi Lodrö College of Dialectics (CLCD) in Northern India. CLCD will receive much-needed operating support for its students, administration, and faculty from Khyentse Foundation. The Foundation also provided for the needs of Khyentse Rinpoche’s institute in Tibet. The rigorous programs at these institutes are recognized for their ability to train scholars who are able, in turn, to make the Buddha’s teachings available to many others, both in Asia and in the West.

During this past year, the Investment Committee, led by Chair Isabel Pedrosa, has worked hard to diversify our portfolio in an attempt to generate higher income while maintaining a prudent balance. In 2004, our portfolio generated a total average return of 11%, surpassing our expectations. (Please see Report from the Investment Committee for details.)