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Points to note

Forecasted balance on WFPI’s account, year end 2014: $158,2k. 

    1. Fees/year from 12 member societies are included in this figure. They currently amount to $2060/year. Fees are “token” and levied at a flat rate per society, as opposed to per member head. This is considered to accommodate the significant resource disparity between WFPI’s member societies and the need for WFPI to prove itself before putting barriers up to membership by charging more. Three years down the line, this policy may need review.
    2. $67k of these funds are SPR’s donation of the Parker Allen funds, which will be used for a joint SPR-WFPI educational initiative. 
    3. The remaining funds will cover staff costs such as they stand for 2.5 years - or less, depending on WFPI’s reserves policy/other expenditures. 

  

WFPI’s main expenses: 

    1. General Manager (support staff). 1.5 days/week.            
    2. Other WFPI expenses have included some website initiation/migration ($3k) and the July 2014 ($2.6k) assessment/training trip to Malawi.

  

  • Hopefully these documents will help WFPI’s Executive Committee identify where funds are needed re future budget allocation.
  • Yellow highlights in the documents = particular points to note, suggested immediate action to improve fund raising prospects.
  • Do we need someone to help coordinate & lead our fund raising drive? Dr Royal may want to focus on individual donations & one-off funding possibilities with radiology societies/institutions.
 
 

©2017 World Federation of Pediatric Imaging - All rights reserved.

 

Disclaimer: the content offered on this site is prepared by individual authors or institutions; WFPI has no responsibility for it and does not endorse any products advertised therein. Material is for use only by trained medical personal licensed in their area of expertise in the location in which they practice. WFPI is an independent organization operating under the auspices of the Society for Pediatric Radiology (SPR)

SPR is a non-profit 501 (c) (3) organization in the United States.
 

 

    

Dr. Jennifer Nicholas
Chair, Digital Education and Social Media Committee
Webmaster
 
 

 
WFPI Mission
Communication and collaboration between pediatric imaging practitioners, via their organizations
Advocating for appropriate practices and resource allocation for children
Education
Patient safety, in particular radiation safety and protection
Outreach and training in lower resource settings
Research
Provision of information & resources

 

 

 

Where WFPI's costs lie, funding possibilities

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Annex: funding sources, steps taken


Fundraising... a few pointers

  • Visibility and networking/liaison play an essential part in our capacity to raise funds
  • We need to match the different funding avenues to projects, then prioritize
  • Applications take time and call on varying levels of expertize (some largely handled by staff, others exclusively physician run). We need to allocate resources to this and free up a budget. Chicken and egg….
  • There is a significant time lag between applications through to receipt of [any] funds. Treasury reserves needed to tide us over.
  • All donors will want evidence of robust institutional governance, efficient use of resources, financial compliance and possibly steady underlying resources (will SPR and ESPR stand as our guarantors?). They may prove reluctant to fund to an organization with overly low cash reserves.
  • Donors could be expected to be wary of an organization run entirely on volunteer efforts, especially when the leadership holds down full-time, significant jobs and have additional commitments elsewhere. Time and resource constraints evoke a risk of compromised efficiency and output. To this end, may be recommended to profile a centralized staff position supporting the board, project management, reporting, etc.
  • We will not strike jackpot every time. EG 1 of every 100 Gates applications meets with success.
  • The benchmark cost of fund raising in the not-for-profit sector: 25 cents spent to raise $US 1. The ratio goes up or down depending on the organization’s notoriety – WFPI has virtually none. So we could expect to spend more.
  • All donors will look for operational and financial reporting (each one with its own format) – resources must be allocated for this. Chicken and egg… They may also request logo placement.