Financial Prospectus
During the Open Our Doors campaign, CSC-SCT seeks to raise a minimum of $3.5 million.
WHY $3.5 MILLION?
We estimate that (including one-time start-up costs), the average annual operating budget for CSCSCT over the next five years will be close to $600,000 to provide our basic program for up to 500 members per year. This will includes a variety of support groups, and offerings in education, healthy lifestyle, social opportunities, as well as information and referrals. $3,000,000 will provide all startup costs and guarantee a solid foundation for annual operating costs during our first five years. A modest reserve of $500,000 ensures we will be able to meet any emergency needs that arise during our start-up phase.
Table 1. Five Year Expense Projections
During that time, we will work toward establishing an annual fund that will provide a sustainable level of operating support. However, a successful campaign allows our efforts to be applied to growth, rather than struggling to maintain our earliest levels of programming.
WHY REQUIRE A RESERVE?
We are obligated to accumulate a cash reserve before opening by our national headquarters. While all affiliates of the Cancer Support Community are independent nonprofits, CSC provides guidance and governance to ensure that affiliates maintain the exceptionally high standards of service (and fiscal responsibility) that have made Cancer Support Community an internationally recognized gold standard of psychosocial cancer support. In a still volatile economic climate, this sensible provision will ensure we keep our doors open once our campaign is complete.
HOW DID WE ESTIMATE OUR ANNUAL BUDGET?
As part of an international network, we are privileged to have data from our fellow affiliates throughout the US and Canada. Recently opened affiliates in comparable locations have successfully begun operations with annual budgets between $550,000 and $740,000. Our planning budget, accounting for differences in local labor and real estate markets as well as staffing strategy, falls well within the actual experience of our colleagues, giving us a high degree of confidence in our estimations.
Table 2. Detail of First Year Expense Budget
CSC-SCT is able to gain a number of efficiencies, while maintaining a gold standard of service, thanks to our affiliation with the Cancer Support Community. Our relatively low annual operating needs allow donors to have maximum, direct, immediate impact on the lives of those affected by cancer in
Southern Connecticut.
HOW DO WE PLAN TO RAISE THE MONEY?
With a strategic emphasis on five-year commitments, the bulk of our campaign is expected to come from generous donors of relatively modest means. Pledged annual support at the $5,000 or $10,000 levels become significant five-year gifts in a campaign of only $3.5 million, and unique recognition opportunities are available for those capable of larger donations.
Executive Director Shana Ross, an experienced fundraiser, members of a devoted Board of Directors and an equally passionate Campaign Committee (currently in formation) have launched an intensive effort to secure major gifts from individuals, foundations and businesses in our four county territory.
Proceeds from our signature special events, while laying the foundation for our future annual fund, will be dedicated to the Open Our Doors campaign for the duration of the campaign.
