Executive Summary Calendar Year 2015
EXECUTIVE SUMMARY CALENDAR YEAR 2015 Stewardship of Resources Practicing fiscal responsibility and accountability are critical aspects of CURE’s financial stewardship model. Along with completing annual audits by an independent CPA firm, CURE is a member in good standing with the ECFA. CURE’S FUNCTIONAL EXPENSES FY15 Audited* FY16 Budgeted FY 2015 Program Expense $53,049,394 $68,587,481 EXPENSES Administration $719,625 $947,775 Fundraising $3,898,346 $4,071,028 Total Expenses $57,667,365 $73,606,284 *CURE’s 2015 Fiscal Year: July 2014 - June 2015 92.0% PROGRAM EXPENSE 1.2% ADMINISTRATION 6.8% FUNDRAISING CURE hospital and specialty General and administrative program expenses expenses CURE’S REVENUES FY15 Audited Contributions* $22,212,912 Other Income† $35,163,549 FY 2015 Gift in Kind $1,255,395 REVENUES Total Revenues $58,631,856 * Includes funds for operations, short-term missions, capital, and unfulfilled pledges †Includes patient revenues, government grants, and interest Based on CURE’s ongoing review and refinement of its FY15 FUNDS RAISED BY operating cost structure, it was determined that: DEVELOPMENT ACTIVITIES 66% Helps save a child’s life or 66% Individual Donors and Foundations $2,000 transform a child’s body 30% Businesses and Organizations % Assists in restoring 4% Churches 30 $1,000 a child’s smile <1% Government Grants % Straightens a % 4 $400 child’s first steps <1 CURE recognizes that our work would not be possible without the faithful support of our partners in ministry and would like to invite you to become part of the CURE family. Contributions can be made to: CURE International, 701 Bosler Avenue, Lemoyne, PA 17043.
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