2 minute read
Financial strategy necessary to achieve mission
FROM THE BOARD CHAIR - Steve Powless, Chairman and CEO of CSI
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– Richard Cushing
The late Cardinal Richard Cushing, Archbishop of Boston from 1944 to 1970, was known as a fundraiser and builder of churches and schools. Your Lifeline board believes his famous quote applies to our work here as well.
As part of our planning, the board has adopted four strategic initiatives (see adjacent graphic) to achieve our mission. Over the next few issues, we will discuss each one in this space.
Today we focus on stability, specifically achieving long-term financial stability so Lifeline can better serve the community by addressing the growing need for addiction treatment services.
The center operates from two primary funding sources – about 25 percent from client fees and the remaining 75 percent from donations. Our strong donor support, along with services provided by volunteers, allows us to offer nine-month treatment for an affordable rate, just $1,800, from each client.
That means we rely heavily on annual fundraising. (pages 4-7).
Here’s where we are on that front:
• Our expanded community board (members listed on back) is providing leadership for community fundraising.
• Community awareness is increasing through our compelling storytelling.
• Graduates are succeeding, proving our effectiveness.
• Donors are investing more than ever before, with more support during the first nine months of 2020 – pandemic notwithstanding – than the previous 12 months combined.
And here’s where we must go to grow:
• Update and enhance facilities on both campuses, so we have room to accept more clients. Currently, we have resources to accommodate just one in five applicants.
• Maximize partnerships, with community organizations and volunteers, to keep costs low while we reach more clients.
• Diversify our revenue sources, looking perhaps to include insurance reimbursement.
• Create an endowment for a dependable revenue stream for capital and operating expenses.
As you can see on these pages, we are restoring lives and transforming communities. We invite you to help us build this ark by donating whatever volunteer time and/or money you can.
STRATEGIC INITIATIVES
Our success in realizing our mission will be measuredby the extent to which we achieve the following:
PROGRAM
AWARENESS
STABILITY
Achieving long-term financial stability, allowing Lifeline Recovery Center to better serve the community by addressing the growingneed for addiction treatment services.
PARTNERSHIPS
In future issues, we will discuss each of our strategic initiatives. To read the full strategic plan, please visitLifelineRecoveryCenter.org.
