THON Donated 96 Percent of $10.7 Million Raised to Four Diamonds Fund
The Penn State IFC/Panhellenic Dance Marathon (THON) released its summary of fundraising activities, revealing an overwhelming 96.06 percent of the $10,711,765.43 raised over the last year went directly to the Four Diamonds Fund.
THON's last fiscal year ran from July 1, 2011, to June 30, when all monies are totaled. According to a news release, of the $10,711,765.43 raised by THON in 2012, 96.06 percent was donated to The Four Diamonds Fund, after accounting for development, space and equipment, THON Store inventory, operations and administrative expenses incurred by THON.
According to the American Institute of Philanthropy, the most highly efficient philanthropies donate 75 percent of its total funds, according to the press release.
"It's an incredible feeling to know that a majority of the funds that we raise are going to such an amazing foundation," said Cat Powers, THON PR Overall Chairperson.
"Number one, we offer emotional support for the families, for the kids ... being there emotionally, that’s where we find our greatest success. That's our main goal," Powers said.
The THON totals breakdown is as follows:
Sources of funds:
- Gifts from individuals: $9,127,363,63
- Corporate, foundation and small businesses: $1,035,831.39
- Fundraising events: $370,624.42
- THON Store: $177,945.99
Uses of funds:
- Four Diamonds Fund: $10,289,884.60
- Event Management: $188,530.86
- Operations and Administrative: $76,360
- Development: $134,146.04
- Account Balance: $22,893.43
"We focus our mission on being a year-long fundraising and awareness campaign," Powers said.
THON partnered with the Four Diamonds Fund at Penn State Hershey's Children's Hospital in 1977, and has since raised more than $89 million, working toward finding a cure for pediatric cancer.
With the financial support from THON, the Four Diamonds fund covers medical bills that insurance is unable to, supports a team of medical specialists and allocates millions of dollars to research at Penn State Hershey Medical Center.
Powers said this year, some of the funds are going toward molecular oncology research.
"The money that we're raising ... it can impact cancer everywhere," she said.
Learn more about THON, the largest student-run philanthropy, here.