By diversifying the ways in which it derives campaign funding, increasing the number and amount of grant funding from other sources, and realizing investment income, the United Way of Buffalo & Erie County (UWBEC) is positioning itself for a more sustainable future in order to continue its impact on the Western New York community.
The organization announced its total revenue of $18,551,000 for the fiscal year ending March 31, 2017, from those three sources and has confirmed previously announced funding for 101 programs for the 2017-19 investment cycle. With a new strategic focus on young children and their families in the areas of education, health and wellness, and financial stability, UWBEC will release annual program investment funding in total of $4,587,000 to 101 programs across 58 nonprofits beginning July 1. An additional $4,614,000 will go to programs that were specifically designated by donors; nearly $3 million will support United Way-led coalitions that bring people and organizations together to address the most critical community needs; and more than $2.5 million will be directed to partner agencies in support of grant funding.
While the annual campaign with its traditional workplace-giving component has been the most high-profile revenue source, the organization has been diversifying its strategies for raising overall revenues. The annual campaign now includes retail store checkout scanning programs; "Spring It On," a one-day online fundraising event; and "Text To Give" and sponsorships that provide new ways for individuals and companies to support the United Way.
In addition, the United Way helps secure grant funding for local nonprofits by partnering with agencies that may not be able to qualify for grants on their own. Last year, $2,994,000 in grant funding was secured in addition to $14,545,000 raised in the annual campaign. The balance of $1,012,000 in revenue was realized from bequests, endowment donations and investment income to support their work into the future.
Michael Weiner, president and CEO of the United Way of Buffalo & Erie County, commented, "As we examine ways that our donors chose to support the organization, it has become clear that we need to offer a variety of ways for individuals to contribute that go beyond traditional efforts. That includes not only nontraditional revenue streams but a focus on 'pay for results,' mobilizing coalitions and doing research on key risk factors in our community, advocacy efforts on important public policy issues and bringing volunteers together to engage in important community service work.
"All of these efforts allow the United Way to continue to make a significant impact on our community, particularly in our strategic areas of education, health and wellness, and financial stability."
Program investments for 2017-19 reflect a sharpened focus on priority areas as identified during a strategic planning process with an increased emphasis on prevention and early intervention services for young children, aged birth to 8, and their families, along with expanding workforce development opportunities.
This year, 14 new programs will receive funding, and 30 currently supported programs will have an increase in their allocation for the first time in six years. In addition, UWBEC increased its total amount of funding available to nonprofits overall by $54,000, the first increase in six years.
