Funding the stem cell research project

Posted - September 2011 in HSPRF News

Excellent progress towards our $100,000 goal, with $93,000 raised so far in 2011

 

Our funding commitments

Each year of the stem cell research project, we the HSP community, through the Foundation, is committed to providing a minimum of $100,000 towards the cost of salary and laboratory materials. While it is a significant part of the cost to the National Centre for Adult Stem Cell Research of carrying out the project, it is by no means the real or total cost which includes the time and expertise that the whole team there contributes to HSP research, our share of the running and maintenance costs of the Centre and the laboratories, the use of sophisticated and expensive technology and equipment, and ancillary materials that are consumed on a daily basis in the maintenance and upkeep of the library of HSP stem cells as well as in the testing and experimentation procedures themselves.

Next year, the direct costs of materials in performing the drug screening will amount to $120,000. This is above and beyond the standard $100,000 annual commitment. While both the Foundation and the Centre have applied for funds from grantmaking bodies specifically for this purpose, success is by no means guaranteed in this very competitive area, and in these unpredictable economic times.

 

Progress so far and looking ahead

Last year we raised almost $85,000… a magnificent effort, however $15,000 short of what we spent. This year we have already amassed $93,000 and that is a stunning performance to date. If we can raise another $22,000 in the Christmas fundraising campaign in December, we will be firmly back on track and well-placed to ensure timely and successful completion of the stem cell research project in December 2012.

 

Where is funding coming from?

The HSP Community

The major contributors are ourselves, the HSP community. A huge Thank You to all who have given so far this year. The end of tax year ‘Give Generously to fund HSP Research’ campaign brought in just over $39,000, with outstandingly generous contributions from a few individuals… and for that, we are enormously grateful and appreciative.

I would encourage everyone in the HSP community to seriously review their ability to give to this most personally relevant and potentially beneficial of investments, especially the significant percentage of community members who are yet to begin giving.

Philanthropic Grants

We were recently awarded a grant from the Ronald Geoffrey Arnott Foundation, managed by Perpetual, for $30,000 a year for both this year and next ($60,000 in total) and for which we are most humbly thankful. Inaugural President, Robin Bligh, manages the Foundation’s philanthropic grant activities, and deserves our accolades for his thoroughness, creativity, persistence and for the quality of applications submitted. This is a demanding role that he quietly carries out in the background. Thank you Robin!

Sponsored Events

Sponsorships of individuals going in events on behalf of the Foundation have brought in just under $14,000 so far this year. Read the separate article on that in this edition of the website in this HSPRF News section.

APIG Dinner

We also received $10,000 earlier in the year as the grateful beneficiaries of the Australian Professional Indemnity Group dinner held as a tribute to esteemed industry member, valued HSP community member and Vice President of the Foundation, the late Con Xiros.

 

 

 

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