In addition to in kind, one-time or ongoing financial contributions, you also have the ability to join in our long-term vision to end homelessness by contributing to one of several endowment funds Freedom House has set up to accept a variety of financial contributions, whether they be insurance, annuity, stocks, trusts or just a desire to focus on one critical objective.
The financial objectives for Freedom House should come as no surprise to anyone who’s ever created a budget, ran a company, coordinated a ministry or planned for future hopes and dreams. They are practical, accountable and achievable:
- Long Term: A funding structure that will secure the financial sustainability of the ministry. This accommodates the acceptance of, planning for, and securing of major gifts that will produce income for many years and which increase over time.
- Reserve Fund: Maintain a “rainy day” emergency buffer that allows the ministry to continue even in times of economic downturn.
- Debt Elimination: Reduce or eliminate debt that will immediately increase unrestricted cash. Currently, our debt (basically, a mortgage on our current facility) is 9.2% of our total operating budget. If we eliminated that, we could immediately:
- Expand childcare offerings
- Initiate a resale store to generate income
- Expand facilities to achieve long-term vision to eliminate homelessness in Brown County
- Serve all homeless children most efficiently & effectively
- Broaden Base: Look at all forms of funding that can broaden the base of funding the ministry, including but not limited to charitable trusts, annuities and real estate.
- Predictable: Develop predictable, level income streams, which will produce identifiable, and continuously increasing, levels of income over time.
Freedom House is a ministry that operates almost entirely on the generous donations of individuals and organizations that desire to help “the least of these” in our community. As such, our needs are great and never ending. There are two avenues you can contribute toward:
- Immediate Needs Fund: This Fund is totally liquid and is used to pay ongoing operational and programming costs (currently $750,000 annually), and includes a small, emergency reserve fund to help soften significant economic downturns (6-month cushion, $350,000 annually). Total Budget: $1,100,000
- Long-Term Funds: These funds include things like debt elimination (currently $200,000 owed on mortgage of current building), transitional housing, other restricted funding and capital funding, an endowment fund and the like. These funds are by their very nature intended to be used to implement the long-term vision of Freedom House to better serve the needs of homeless families and ultimately to eliminate entirely homelessness in Brown County. Initial Budget: $15,300,000