Our Fundraising Target
Our Fundraising Target
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Help us reach +€5,000 in Monthly Donations
Target 1: Increasing Old STudent Loans
Target 1: Increasing Old STudent Loans
As things stand, we have €895,000 available towards a future centre. Suitable properties tend to come up around €1.5 million, and we're hoping to find something for less than €1,350,000 - which still leaves us ~€450,000 short. Since €500,000 is the most we can borrow from a bank, closing that gap will need to come from further loans or donations from old students.
This could look like:
10 people loaning or donating €45,000
30 people loaning or donating €15,000
50 people loaning or donating €9,000
Old students who are in a position to help can read more here.
Target 2: Increasing Monthly Donations
Target 2: Increasing Monthly Donations
Regular monthly donations have increased to €3,150/month — up from €400/month in April 2023, when we started working towards a property.
The bulk of dana (donations) we receive comes directly after courses. However, for a mortgage, banks don't regard these donations as reliable income, because if courses stopped for any reason, the bank wouldn't be guaranteed repayment. They're more interested in reliable monthly donations.
Our Revised Target: €5,000/Month
Based on the lender’s current interest rate of 5.95%, rising to 8% under stress testing, we have revised our target for monthly donations to €5,000 per month. Reaching this target would allow the mortgage repayments to be covered entirely through regular donations.
We are currently €1,850 per month short of this target. If you’re in a position to help us bridge this gap, even a small regular contribution would make a meaningful difference. This could look like:
61 people: €30* per month (*Eligible for tax relief)
88 people: €21* per month (*Eligible for tax relief)
185 people: €10 per month
370 people: €5 per month
Sources of Funding for Establishing a Centre
Sources of Funding for Establishing a Centre
Student Loans
Student Loans
Many old students have already expressed willingness to offer interest-free loans to help secure a permanent centre. We are now inviting old students to pledge either a loan or a donation, so we can clearly understand the funds available and determine the price range of properties we can confidently consider.
Donations
Donations
Donations from old students form the foundation of our current savings and reflect the community’s long-standing support for a permanent Vipassana centre in Ireland. Regular monthly donations are especially valuable, as they demonstrate to the bank that we have a reliable income to support ongoing costs and mortgage repayments.
Bank Loan
Bank Loan
We are working with a bank lending advisor to prepare all necessary paperwork and assess how much we can borrow to support the purchase of a permanent centre. Any borrowing will be carefully balanced with the need to ensure long-term financial sustainability, so the centre can operate securely within its means and continue to serve students for generations to come.
The Donation-Based Model of Vipassana Courses
The Donation-Based Model of Vipassana Courses
Each student who attends a Vipassana course is given this gift by a previous student. There is no charge for either the teaching, or for room and board.
All Vipassana courses worldwide are run on a strictly voluntary donation basis. There is no wealthy foundation or individual sponsoring them.
Neither the teachers nor the organizers receive any kind of payment for their service. At the end of each course, if a student has benefited from the experience, they are welcome to donate for the coming course, according to their volition and their means.
This model of students paying-it-forward is the same at the 384 Vipassana centres all over the world
"May each and every centre become a true dwelling of Dhamma, in the shelter of which, many may find the way out of suffering. May Vipassana spread to every land around the world. May all beings everywhere be happy. May all beings be happy. May all beings be liberated."
S.N. Goenka
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