View Full Version : The Cure Club
Webber
02-26-2002, 09:44 AM
How about something like this:
Get 2,000 people (SCI or whoever) to join the club at a cost of $10 per week. The money could be charged to a mastercard or automatic draft weekly from a bank account. This would amount to cash generation of $20,000 per week @ 52 weeks year = $1,040,000. The club would have a weekly cash drawing to members totaling $5,000 (10 $500 winners per week for example. This would still leave almost 1 million per year to support a lab. Another option for the members would be to put the $5,000 weekly cash into a mutual growth fund for a certain amount of time, then cash it in and divide the profits among the members. Is this feasible DR. Young, and would 1M per year help research for labs you recommend? I believe this could be put together without a great deal of difficulty. http://sci.rutgers.edu/forum/images/smilies/wink.gif LJW
Great idea...if it's feasable and all I'd definitely join such a club, as would much of my family.
"Each moment in time we have it all, even when we think we don't."
--Melody Beattie, writer and counselor
paulsask
02-26-2002, 12:25 PM
Greetings
Not a bad idea at all.
Alot of people would be more inclined for this type of fund-raiser, rather than participating in events that possibly take too much of their time or being an inconvenience.
It would even be more attractive if donations were tax deductible.
Paul
Webber
02-26-2002, 02:45 PM
I believe there are enough members already established on this forum for a good start, and if the members could recruit family and friends I believe the numbers could add up rather fast. Of course there would be a few details to iron out, and someone to oversee the club, but with electronic banking and the way we can do business via internet, I do believe something like this could be a real possibility. Thanks for the replies. LJW
rbyrd49100
02-26-2002, 03:17 PM
Sounds good to me, even without the cash drawing:)
Russ Byrd
So... are you going to put this together? I'm definitely in.
I think the focus of the $ should be Human Trials NOW. We should not support fertility studies, etc. 100% focus on moving regeneration studies from rat to human TODAY.
Chris Chappell
03-02-2002, 03:05 PM
"let's roll".
As I think about this I may be able to help set this up through Smith Barney. Automatic drafts, interest bearing money market account, check writing, web access, etc.
I can't be primary on the account (conflict of interest) but I can help manage it.
Ready?
X-racer...
03-02-2002, 04:02 PM
I'M IN ALL THE WAY
death smiles upon us all every minute of every hour of every day, live life so your always smiling back!!!!
foster
03-02-2002, 04:24 PM
I think this a great way to raise funds. I was talking about it in work and about 10 people where already ready to go. I was thinking about it and the odds of winning $500 is pretty good. Hopefully whoever wins just gives the money back for the cure.
Webber
03-02-2002, 08:13 PM
Well it sounds like this may be something we can get started. I'll talk with my CPA this week and see what really needs to be done to get things set up properly and legally. My wife is a trust officer with a major bank and I have alot of good contacts with the bank. The administration of the organization will be the one thing that will really need to be ironed out properly. Anyway, I'll do some due diligence this coming week and Chris, any input you have will be appreciated. LJW
Count me in! I know my family and my husband's family would also participate!
Sue Pendleton
03-02-2002, 11:36 PM
When you start asking questions add these, will the winners of the $500 make this a gambling propositions? If so, what difficulties does that create? If you make it tax deductible, who will it go to so that all money will be "cure directed" (that is the language we use to avoid applications for prevention, fertility, pain, etc grants in the language of the law for the Maryland Spinal Cord Injury Research Board Fund".
Webber
03-04-2002, 08:24 AM
I have visited with my accountant and it seems as if the administration of this kind of endeavor would be difficult. It would be good to set up a 501C non-profit organization, but we already have organizations in place we can funnel funds into for research. There is power in numbers and if we could just spend $10 per week, just 2,000 people would generate about 1 million per year. I would like Dr. Young to maybe give some input on how we could direct the funds to his lab, and if the funds we give are tax deductable. I just want to help speed up the cure goal and have therapies available for chronics asap. Not another 10 years from now. LJW
Chris Chappell
03-04-2002, 10:35 AM
LJW, good effort. You're on to something. We need to keep up the effort.
Wcrabtex, I wholeheartedly agree with you. Very good idea about the senator support / lobbying effort. We should pursue this.
Maybe a possible way to pull this off is as follows. (This could potentially be set up at either a bank or brokerage account).
Why not set up an investment club per se who's goal is sci research? Investment clubs have no limit on the amount of members. Also, we could keep the monies in cash/money market or invested into related (biotech)stocks or mutual funds. Secondly, any bank or brokerage firm can set up an automated deduction through bank/checking accounts. Therefore each member can deduct a given amount each month. Third, checking account privileges (one person, maybe the president of the club?) are available, usually free of charge. As a group we can determine how to disburse the monies. Fourth, with internet and e-mail access, or conference calls communication between us can be achieved. Fifth, Tax status is tricky but we can probably figure out something in terms of profit/loss annualized and deductibility issues. We need to dig deeper on this.
I think its important to realize that it may take some time to set this up right but if we are committed it can be done. Where there's a will there's a way.
Thoughts? Comments? Suggestions?
perry
03-04-2002, 12:02 PM
it sounds good to me, this kind of money
could give the club a national, and maybe an
international voice...........
perry
Useing the money for lobbying to get more sounds like the right track! In the mean time like Rutgers has here, https://secure.entango.com/donate/z7amHUbTiNZ
it's possible to donate.
I'm sure their are others like CR, Miami P.
Leo
angel7
03-04-2002, 06:08 PM
I'm in all the way. Also, if we go ahead with this I know I have friends and relatives that will also donate $10 a week. Let's do it!!!
Deb
Chris Chappell
03-13-2002, 02:01 PM
Any new info? news? progress?
What's happening?
CLC379
03-13-2002, 08:56 PM
Great idea LJW, maybe you could be that creative in picking a specific study or trial?
i dont think any prizes or pay should be included.
if anyone gets any pay that sets up greed & disaster. prizes are usually set up to pay yourself & friends, I am not saying thats in your plans but is usually what happens or people start to suspect it. if someone wins over & over not likely but could look bad. then maybe if a person won we create a block on them winning for 50 months lol they might drop out.
lobying if they all receive equal theres not much incentive, what if someone votes against our plans do we keep giving them money? think we need a more direct target. like trials, writing letters is suposed to be very powerful maybe stronger than cash. form letters or emails really dont count.
there are lots of wheelchair clubs that most likely would join.
Heck I dont know sure sounds great wish could suggest a grand plan for the money.
hey beens were mostly or all cronic why not direct money to only people injured 6 months or more? this is the grand prize anyhow, if they develop that cure it will also take care of new injuries as well.
Great thinking everyone we need more thinkers & ideas
CLC379
03-13-2002, 09:00 PM
i think no pay or prizes would show more determination and get more respect from everyone?
sure would be nice to win 500 lol
Maceyka
03-20-2002, 04:37 PM
I think another aspect of "The Club" should be to market our cause not only to politicians but to the general public and, to high profile individuals or groups such as actors, sports professionals, TV news magazines, local personalities, etc, etc.
One thing I've learned in business is that the most efficient means of acquiring money (awareness) is through the leveraging of others. Lets get these people and groups spreading the word (actually driving home)that there is hope for curing SCI in the next few years but the only thing preventing it is lack of money! This is exactly what Cristopher Reeve does practically on a daily basis. He got the ball rolling...lets take it to the another level!
I think coming from another angle...a group of SCI individuals - would speak volumes! Our advantage over Christopher Reeve is our abillity to better influence our local communities. I would think through all the members of this website (or "The Group") we could cover the entire US!
The main point I'm trying to convey is that we need to market our cause, not unlike a business markets its products and services! This includes targeting politicians AND the public!
Maceyka