THON Releases 2009 Fundraising Summary
This morning, The Penn State Dance Marathon released their 2009 fundraising summary, detailing the specifics of their finances for the 2009 fiscal year (which we highlighted yesterday). The charity raised $7,596,744.90, $106,000 more than announced at the conclusion of THON weekend.
A breakdown of the fundraising and allocations can be found in the charts at right (click here or on the picture to view larger). Highlights include $6,579,332.83 from individual contributions, and $7,093,777.66 allocated to the Four Diamonds Fund. The remaining $408,826.74 was allocated for Event Management ($151,681.94), Development ($51,231.17), THON Store inventory ($171,355.56), and Operations and Administration ($34,559.07). The fact that only 0.46% is spent on administrative costs is heartening, and the $171,355.56 spent on THON Store inventory gets turned around into the $276,674.57 made from THON Store sales. This means that THON is determined to get as much money possible into the hands of the Four Diamonds fund, and doesn’t get bogged down in unnecessary expenses.
For the complete press release, click below.
Full Disclosure: I am a Technology Captain with the Penn State Dance Marathon.
UNIVERSITY PARK, PA – December, 2009 – At the end of its 2009 fiscal year, the Penn State Dance Marathon (THON) reported a total of $7,596,744.90 donations, $106,600 more than announced at the conclusion of the annual dance marathon held in February 2009. “THON’s continued contributions to The Four Diamonds Fund have brought us many steps closer to finding a cure for pediatric cancer,” said Caitlin Zankowski, THON 2010 overall chairperson.
As THON weekend 2009 concluded, $7,490,133.87 was pledged to The Four Diamonds Fund at Penn State Hershey Children’s Hospital. Donations that were received after THON Weekend increased the total by $106,611.03 to $7,596,744.90. Pledges yet to be received total $94,139.50, or 1.25 percent of total gifs. Of received donations, 94.6 percent were allocated directly to The Four Diamonds Fund, after accounting for events management, THON Store inventory, development, operation and administrative expenses.
A full depiction of gifts and allocations can be found in the attached graphs. (Click here or on the image above to view a larger version of the charts.)
An expense ratio of 5.4 percent for THON is superior to national philanthropic averages. “We continue to promise our supporters that expenses will be kept at an absolute minimum,” said Zankowski. “THON volunteers should be extremely proud of the fact that we’re making a large impact on the lives of children and families at the Penn State Hershey Children’s Hospital.”
Since partnering with The Four Diamonds Fund in 1977, THON has assisted more than 2,000 children and their families. Through THON’s support, The Four Diamonds Fund covers the cost of treatment that a family’s insurance will not pay for, supports a world-class team of medical specialists and has helped to establish research endowments.
THON’s ability to allocate such a large percentage to The Four Diamonds Fund is made possible by the support that it receives from its student volunteers and in-kind donors. Throughout the year, hundreds of volunteers work with the University and in-kind donors to make sure THON is successful.
THON has successfully raised more than $61 million for The Four Diamonds Fund since the beginning of their partnership. THON leadership never sets a monetary goal for the year, but says that the organization’s success is measured by the experience of those involved, especially Four Diamonds families.
THON’s mission is to provide outstanding emotional and financial support to the children, families, researchers and staff of The Four Diamonds Fund. For more information, visit THON’s Web site at www.THON.org.