Looking at the Money

Looking at how our chapter is developing through solely a financial lens obviously does not provide a complete picture of the learning and collaboration taking place during our staff meetings or of the relationship developing between our Whitman chapter and the Burmese Women’s Union.  However, because our organizational model relies heavily on fundraising, our financial vision and long-term goals are key elements that will determine our success and sustainability as a chapter at a small college.

 

This Year

This year our basic operating budget was $650.00, constituted by a grant of $500 from the ASWC Contingency Fund and $150 of ASWC club money awarded to every ASWC-recognized club.  These moneys are being used to support our fundraising and educational events as well as to cover the costs of staff training and chapter operations.  Note that we are required to pay back any ASWC money used for fundraising purposes.  With this exception, 100% of our campaign profits go to BWU.  

ASWC also granted us $2250 from their Student Travel and Development Fund to allow 5 GlobeMed members to attend the Global Health Summit Conference in Evanston, IL this past weekend (April 12-15).  It was incredible, thanks ASWC!

So far this year we have raised $2703.50 for the Burmese Women’s Union through individual giving and our Coin War Campaign!  Because we have already exceeded our goal of $1500, BWU is in the process of evaluating how best to apply the extra funds to the programs they have in place.  $2470.00 of that money came from Individual Giving, meaning that individual donations are our greatest source of income for BWU.  Thank you to all our donors out there! 

Unfortunately, Whitman College’s policy on International Student Travel does not allow GlobeMed at Whitman to use college moneys to support the cost of the GROW trip to Thailand this summer for three members of the Executive Board.  They will be fundraising money individually for the trip this year, but we hope to apply to national grants in the future to reduce costs for students interested in meeting our partners at BWU. 

 

Next Year

GlobeMed at Whitman’s working budget for the year 2012-‘13 is hovering around $2,301.00. Why so much larger than this year’s budget, you ask?  ASWC has generously awarded us $1500.00 for the upcoming school year, and we recently received a Launch grant from the National Office for $801.08.  Our expanded budget means expanded fundraisers in the future and will also cover $100.00 registration fees for students applying to attend the GlobeMed Health Summit in the spring.  Because a grant from the GlobeMed National Office is a one-time event, we hope to spend this money conservatively (i.e. not all in one year), whereas ASWC money left unused is reappropriated by ASWC and does not rollover into next year’s budget.  

The greatest challenge we face financially is the barrier of repayment to ASWC of money that was used to fundraise.  What this really means is that we are sending less money to our partner BWU than we would like and limits the scope of our events.  One of next year’s goals will include carefully researching foundations and national grants to which we can apply in order to be able to organize more wide-reaching and well-attended fundraisers and educational events.  

You can follow our financial progress on our razoo online giving page anytime at http://www.razoo.com/story/Globemedatwhitman, or check for updates on our facebook page!  Your continued support is paramount!  

– Laura Euller (Director of Finances)

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