In order to cover the expenses of Oakland Family Wellness Center (OFWC) during a long period of time, it is important to focus on fundraising opportunities in California. The fundraising strategy for OFWC should include the development of annual giving programs that guarantee continuous donations during a long period of time and the development of special purpose campaigns or capital campaigns which are focused on raising funds for the concrete project. These two options are often proposed to healthcare organizations as the most effective ones in order to help these facilities and institutions remain profitable (Buchbinder and Shanks 22; Cagney and Ross 112).
From this point, in order to organize and monitor the OFWC Annual Giving Program, it is important to hire fundraising specialists for the Development Office at OFWC (Finkler et al. 54; Zelman et al. 121). Fundraising specialists’ and coordinators’ annual salaries will be $40,000 for each person ($80,000 in total). In order to work on capital campaigns that are organized to collect individual donations to support the concrete project, it is necessary to hire a grant professional, who specializes in performing such activities, completing such tasks, and winning community grants for the development of healthcare facilities (Baker et al. 32; Langabeer and Helton 89). The grant professional’s annual salary will be $45,000 (see table 1).
Table 1. Budget for Oakland Family Wellness Center.
It is necessary to pay attention to the fact that, in order to gain more resources and win the community’s recognition, it is also important to participate in projects which are sponsored by Medi-Cal and the associated California Partnership for Long-Term Care. This cooperation is essential for OFWC to preserve its financial resources and gain more sponsors or donators (Finkler et al. 54; Zelman et al. 123).
Furthermore, it is also necessary to focus on the organization and development of Holistic Health Programs which are not funded by Medi-Cal on a regular basis. In order to organize and monitor these programs, it is important to plan additional expenses in $200,000 and hire an outside consultant with an annual salary in $45,000. After implementing and completing fundraising projects and programs, the planned non-allocated budget will be $1,093,500. It is important to note that the Medi-Cal reimbursements are not included in the overall budget in $5,000,000, and it will be about $900,000 per year. This figure is calculated with reference to the forecasted number of patients who are served by OFWC on a regular basis during one year (Buchbinder and Shanks 22; Cagney and Ross 54). These calculations provide the assumptions regarding the budget for the first year of OFWC’s activities.
Works Cited
Baker, Judith, et al. Health Care Finance: Basic Tools for Nonfinancial Managers. 5th ed., Jones & Bartlett Publishers, 2017.
Buchbinder, Sharon B., and Nancy H. Shanks. Introduction to Health Care Management. 3rd ed., Jones & Bartlett Publishers, 2016.
Cagney, Penelope, and Bernard Ross. Global Fundraising: How the World Is Changing the Rules of Philanthropy. John Wiley & Sons, 2013.
Finkler, Steven, et al. Financial Management for Public, Health, and Not-for-Profit Organizations. 5th ed., CQ Press, 2016.
Langabeer, James R., and Jeffrey Helton. Health Care Operations Management. 2nd ed., Jones & Bartlett Publishers, 2015.
Zelman, William, et al. Financial Management of Health Care Organizations: An Introduction to Fundamental Tools, Concepts, and Applications. 4th ed., John Wiley & Sons, 2013.