2007 Financial Overview

The Diamond & Pearl Ball 2007 was a profitable fundraising endeavor, exceeding one million dollars in revenue. The cost of the event was an exceptionally low 15% thanks to resourceful underwriting and extensive in-kind giving.

Gross: $1,046,683
Expenses: $164,761
Net: $881,922

Traditionally, the gala event has provided the vast majority of the Foundation’s income, determining project capacity above stable organizational costs. The Foundation is now engaging in more aggressive fund-raising in order to provide improved program offerings to a larger target constituency. Increased funding levels have brought the organization to the long-awaited point in which major growth in patient assistance can be possible. Already, the success of The Diamond & Pearl Ball has expanded the capacity of the flagship Individual Patient Assistance (IPA) program, and funded the development of a pediatric oncology program. Over the past twelve months, patients received $284,539 in targeted financial support, $83,863 in counseling and advocacy, and $339,804 toward a program for kids and teens battling cancer currently being implemented in CHOC, Miller Children’s Hospital, and CHLA. The 2007 BELIEVE program was also an unprecedented success; through the generosity of The Diamond & Pearl Ball donors, Beckstrand was able to devote $56,939 to reach greater numbers of local families living with cancer, providing them with a true Christmas of gifts, support, and hope. Combined program-related expenses in 2007 totaled $740,145, an increase of 30% from the previous year.

The current balance between operational and program expenses is largely a result of three years of organizational expansion designed to lead into a period of substantial program growth. Comparing spending on direct assistance with an overall organizational projection illustrates the opportunity to expand the services that Beckstrand can provide per dollar raised. The organization’s needs have been provided for; today’s challenge is to bring in funds that can increase the numbers of constituents served without proportional organizational expense. Additional funding can provide many more families with sustained housing, insurance, transportation, and other critical survival needs, along with the peace of mind that can make a world of difference in living with and surviving cancer.