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Funding the Foundation – then and now
The Heart & Stroke foundation of Barbados (HSFB)
has come a long way. From a small beginning in 1985 with one
volunteer, the HSFB is today a structured and professional
organization, managed by a Chief Executive Officer who was
appointed in 2004. The first salaried employee came on board in
1994. The staff now numbers ten, and there is a large cadre of
volunteers. The Foundation also has a good association with a
number of doctors and has formed critical partnerships with
several businesses that give assistance and funding to its
programmes and projects.
The first personal donation was $50, made by
Harold Hoyte in 1986. The first corporate donation was made by
Eric Hassell & Sons in the amount of $2,000. In 1990 the
Canadian Women’s Club donated $2,850. In 1996 the Heart
Foundation received a $40,000 legacy
The Foundation’s income in 1987 was $51,000
and expenditure $8,000. Over the years this has changed
significantly, and in
2005 income was $758,000 and expenditure $734,000.
The Foundation has engaged in a number of
events and projects as part of its outreach programme. These
have generally been at a cost to the Foundation, but in recent
times the attainment of sponsorship has underwritten the
expenses and, in some cases has produced a small profit that
could be channeled into the work of the Foundation. For example,
in 1988 Heart Week cost $1,191. The net cost of World Heart Day
in 2000 was $1,078. Due to sponsorship this event now makes a
profit.
In 1991 the National Lifeguard Championship
raised $9,622 but cost $15,357 and in 1993 the ACLS course cost
$10,203 to mount, but only raised $4,700 in revenue. By
comparison the highly successful Care For Life course in 2005
cost $24,012 but raised $34,043, including sponsorship and fees.
In 1995 the Healthy Lifestyle Seminar
achieved a revenue of $19,460 at cost of $10,456. The event was
revived in 2004, after a disconuation of a few years, and is now
sponsored by Sagicor General Insurance.
The Worksite Project, which was held in
1998, was very effective, costing $23,466 and generating income
of $57,200. The Foundation is now looking to re-establish this
very successful event. Another successful event was the
Valentine Day project, held in 2001, which raised $3,866
The cost of producing the newsletter
Heartline in 1987 was $497, while income from the newsletter in
1989, which came from advertising sponsorship, was $5,500. Today
the publication has been transformed into a quality magazine and
costs about $13,000 per issue to produce. This expense is
sustained by revenue derived from advertising and sponsorship.
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