Initially, when the academy was founded, there were only eight monks, who attended voluntarily in order to study Tibetan Buddhist culture. At that time, a Nepalese pearl merchant raised the main funds for the Academy. So, the Academy became known as The Pearl Tibetan Buddhist Academy. Later, the eight Nevari Nepalese monks invited the previous reincarnation of Serkong Dorjee Chang, Je-Tsun Thupten Tse-Wang( the second one) and they handed the academy over to him. Since then, the academy has been known as Serkong Dorjee Chang Academy. The eight monks later passed one by one away but some of their relatives are still studying there at the academy and presently there are about sixty monks.
They are also involved in many kinds of religious and administrative activities. As daily routine, they gather at their praying hall to hold group pray, and on some occasions, they perform different kinds of religious dance. To say simply, the monks are educated how to improve social status. They pray whoever requests them to do this and that pray as their will.
Serkong Dorjee Chang academy in Nepal was the first tantric and Mantra monastery of the Tibet Buddhism and was created in the style of Nalanda. But the monks that stay there at present are mostly from very poor families of Nepal, Tibetan, and Himalayan border area. At present, the academy is unable to run properly and fully due to a shortage of enough funds. The expense of the following area has been one of the major problems and it made the academy unable to provide enough and proper facilities for the monks to complete their studies successfully.
He was a merchant in his early life and travelled between Tibet and Nepal. Later he gave up the merchant life and became a monk of Drepong Monastery in Tibet. While he was studying at the monastery, he sought many guidance from many eminent teachers, studied and mastered all the Sutras and Tantras and completed the Geshe Lharampa Digree. His mental and spiritual brilliance became renowned and he later went on to become one of the foremost saints of Nepal.
He passed away while residing there, in the rooms of his monastic residence, in the Tibetan calendar year 2106, the earth sheep of the 16th year cycle, the 18th day of the 9th Tibetan month corresponding to November 1979 of the western calendar, in the following way: even though he did not usually keep all the thankas (religious paintings) in his room formally displayed on the day of his passing away he gave orders to display them all accurately, donned his robes and lay down in the Lion posture of the parinirvana of the Blessed One, thus manifesting the absorption of his form body into the Dharma sphere.