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There are three main reasons that we have been as successful as we have: First is our remarkable combination of
good people - five full-time Ph.D. scientists and world-renowned surgeons and medical oncologists working with a team
of postdoctoral fellows, residents in training, and technical support staff. Second is our world-class facility. But
excellence doesn't allow for many bargains: What we do here is very expensive.
And this brings us to the third reason, our lifeline and the heart of our success: You, our partners in discovery.
Sadly, of all the battles we fight, the one for funding is among the most difficult. In many ways, we are swimming
against the tide: Today, more scientists than ever are competing for support from the National Institutes of Health.
Although the backbone of our funding -- $4 million -- comes from NIH and other grants, these don't cover all the basics:
For example, they don't pay for purchases of major equipment, some salaries, and financial stability between grant
periods, the "hard" money needed to retain the most talented scientists and support personnel in the country.
Another $1 million of our funding comes from professional fees. Our physicians receive a salary; this enables us to
reinvest all extra revenue in discovery. However, with the recent dramatic changes in health care financing, the
availability of funds from professional fees is disappearing. Managed-care companies are draining the profit we
once used to support this work and offering reimbursements that are less than it costs to provide the kind of care
that we give. For this reason, we can't depend on third-party reimbursements to support our research in the way
they once did.
Currently, the remaining $2 million per year of our $7 million research budget comes from gifts and endowment. It
comes from you. We can't do it without you. With the growing demand for NIH support and diminishing availability
of funds from professional fees, it's increasingly important that we increase gifts from individuals and private
philanthropic groups to safeguard the future of our mission. Recently we have taken a great leap of
faith. Facing an era of increasingly uncertain funding, yet greater need -- and
greater promise -- than ever before, we made a decision. Instead of counting on
outside help that may or may not come, or worse -- somehow scaling back, and
reneging on our commitment to all of our patients, past and future, we have concluded that it's up to us, and you, to
make it happen: We have embarked on a $25
million campaign to meet the needs of the future, and to build a sustaining
endowment that will provide security for our
researchers in perpetuity. The funds will
be allocated in this way:
- $20 million-Fund for Research & Progress in Urology, an endowment fund
- $4 million- Two endowed professorships
- $1 million- Expendable Gifts,
non-endowment
We are delighted and grateful to report
that we are nearly halfway there. Already,
through the generous support of our
patients and friends, we have raised $12
million toward our goal. And yet, the
events we fear so greatly -- the drop in
medicare and managed care revenue to
pour back into our research -- are happening even sooner than we anticipated. Truly,
in the face of these odds, our fundraising
campaign is a leap of faith. Such faith flies
directly into the winds of current financial
and research funding trends.
But we know that with your help, we
will meet this worthy goal. There is so
much hope here: Breakthroughs -- such as
the ones in this Update -- are being made
every day. The future is brighter than ever.
But without adequate funding, we will only
be able to dream about seeing the fruit of
our discoveries being used for the good of
patients. Our vision of helping men with
every stage of prostate cancer will remain
just that. With your help, we can make it
a reality. Together, we can save lives.
For
more information on how you can make a tax-deductible contribution
to the Brady Urological institute of the Johns Hopkins Medical Institutions
please call the Brady Development Office at (410) 614-3961
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