Financing

At the outset, our construction timeline was delayed due to several years of permits approval processes amidst opposition (read more here and here ). Compounding these hurdles, the unforeseen challenges of the COVID-19 pandemic and escalating inflation significantly impacted our initial budget. Prior to 2020, this building was initially estimated at 5 million dollars to complete, now it has risen to an estimated 8+ million dollars. Despite these adversities, RKMCC commitment to this crucial project has not wavered. Construction on the new building commenced in May 2022 and is exclusively funded through contributions from devoted supporters and well-wishers, encompassing donations, loans, and participation in our diverse fundraising activities.

Details Amount ( as at Jan 2024)
Total Funds (Cash) Raised towards new building: 1,263,856.00
Total Loans 2,020,000.00
Total  expenses on new building as at Jan 2024 3,383,856.00
Total additional $ Needed for Partial Occupancy (estimate provided by contractor as at May 2023) 4,640,000.00
Total Project Estimated Budget  8,000,000.00
* This table statistics reported is at Jan 2024 and will be updated quarterly
NB: You can further contribute to the completion of the mandir by either providing a loan or making a pledge. To arrange a meeting for discussion, please reach out to Dwarka Persaud at president@radhakrishnamandir.ca or call 519-240-0870.