Shades of Pink Foundation Market Research Report

Background

Overview

Shades of Pink Foundation (SOPF) is a Michigan-based nonprofit organization dedicated to alleviating the financial burdens faced by individuals undergoing breast cancer treatment in Southeast Michigan. Established in 2005, SOPF has been instrumental in providing prompt financial assistance for daily living expenses, enabling patients to focus on their recovery without the added stress of financial concerns.

Mission and Vision

The foundation's mission is to reduce financial stress for those undergoing breast cancer treatment in Southeast Michigan by providing prompt funding for daily living expenses. Their vision is to ensure that no individual has to choose between essential living expenses and life-saving medical treatment.

Primary Area of Focus

SOPF focuses on assisting individuals diagnosed with breast cancer who reside in or receive treatment within Southeast Michigan, encompassing Genesee, Lapeer, Livingston, Macomb, Monroe, Oakland, St. Clair, Washtenaw, and Wayne counties.

Industry Significance

Breast cancer is one of the most prevalent cancers in the United States, with over 9,000 Michigan residents diagnosed annually. Approximately 50% of these patients experience significant financial hardship due to their diagnosis, making organizations like SOPF crucial in providing support during challenging times.

Key Strategic Focus

Core Objectives

Financial Assistance: Provide timely financial support to cover daily living expenses for breast cancer patients.

Community Engagement: Engage with local businesses, schools, and community groups to raise awareness and funds.

Sustainability: Ensure the longevity and sustainability of the foundation through strategic partnerships and fundraising events.

Specific Areas of Specialization

Direct Financial Support: Assisting with expenses such as mortgage or rent payments, health or auto insurance premiums, transportation costs, utilities, and other necessities.

Community Outreach: Collaborating with local entities to enhance visibility and support.

Key Technologies Utilized

Online Financial Support Application: Implemented a streamlined, electronic application process for grant requests, facilitating quicker approvals and direct payments to creditors.

Primary Markets or Conditions Targeted

Geographic Focus: Southeast Michigan, including the nine specified counties.

Target Demographic: Individuals diagnosed with breast cancer facing financial hardships.

Financials and Funding

Funding History

Total Funds Raised: Over $3.5 million distributed to more than 1,600 individuals since 2005.

Recent Funding Rounds

2023 Financials:

Total Revenues: $640,185

Total Expenses: $525,366

Net Assets: $252,836

Number of Employees: 0

Notable Investors

SOPF's funding primarily comes from individual donors, local businesses, and community organizations. Notable supporters include the Metro Detroit Chevy Dealers Association, which has been a major sponsor for over a decade, and Juice Plus+, which partnered early in the foundation's mission.

Intended Utilization of Capital

Program Services: Direct financial assistance to patients.

Fundraising Events: Organizing events like "A Walk at the Zoo" to raise awareness and funds.

Operational Expenses: Maintaining the foundation's infrastructure and administrative costs.

Pipeline Development

Key Pipeline Candidates

As a nonprofit organization, SOPF does not have a product pipeline. Instead, their focus is on expanding their reach and increasing the number of individuals they can assist.

Stages of Development

Grant Application Process: Ongoing, with applications reviewed and approved promptly.

Community Outreach: Continuous efforts to engage with local entities and expand support networks.

Target Conditions

Breast Cancer: Specifically targeting individuals undergoing treatment in Southeast Michigan.

Relevant Timelines for Anticipated Milestones

Annual Fundraising Events: "A Walk at the Zoo" is held each spring, with the next event scheduled for April 26, 2025.

Technological Platform and Innovation

Proprietary Technologies

Online Financial Support Application: A user-friendly, electronic application system that streamlines the grant request process, allowing for quicker approvals and direct payments to creditors.

Significant Scientific Methods

Data Analytics: Utilizing data to identify trends, assess needs, and optimize resource allocation.

Leadership Team

Executive Profiles

F. Kevin Browett: Executive Director

Professional Background: Extensive experience in nonprofit management and community outreach.

Key Contributions: Overseeing daily operations, strategic planning, and community engagement initiatives.

Nina Googasian: Executive Administrator

Professional Background: Background in administrative support and nonprofit operations.

Key Contributions: Managing administrative tasks, coordinating events, and supporting the executive team.

Competitor Profile

Market Insights and Dynamics

Market Size: The nonprofit sector in Southeast Michigan is robust, with numerous organizations addressing various community needs.

Growth Potential: There is significant potential for growth, especially in expanding outreach and increasing the number of individuals assisted.

Industry Trends: A growing emphasis on community-based support and financial assistance for health-related challenges.

Competitor Analysis

All Shades of Pink, Incorporated: A Maryland-based nonprofit assisting women diagnosed with breast cancer through resource referrals and emergency financial assistance.

Shades of Pink Foundation California: A California-based nonprofit providing temporary monetary assistance to women experiencing financial distress due to breast cancer diagnosis and treatment.

Strategic Collaborations and Partnerships

Metro Detroit Chevy Dealers Association: Major sponsor for over a decade, supporting fundraising events and increasing community engagement.

Juice Plus+: Early partner that has been instrumental in the foundation's growth and outreach efforts.

Operational Insights

Strategic Considerations: Maintaining a strong local presence while exploring opportunities for regional expansion.

Competitive Advantages: Established reputation, strong community ties, and a clear mission focused on financial assistance for breast cancer patients.

Strategic Opportunities and Future Directions

Strategic Roadmap

Expansion of Services: Increase the number of individuals assisted annually.

Enhanced Community Engagement: Strengthen partnerships with local businesses and organizations to broaden support networks.

Sustainability Initiatives: Develop strategies to ensure long-term financial stability and operational efficiency.

Future Business Directions

Program Diversification: Explore additional support services for breast cancer patients beyond financial assistance.

Geographic Expansion: Consider extending services to neighboring regions based on demand and resource availability.

Opportunities for Expansion

Digital Fundraising: Leverage online platforms to reach a broader audience and increase donations.

Corporate Partnerships: Engage with more corporate sponsors to enhance funding and resources.

Positioning for Future Objectives

SOPF's strong community presence, clear mission, and established partnerships position it well to achieve its future objectives and continue making a significant impact in the lives of breast cancer patients in Southeast Michigan.