Update from our CEO
In my last update in early June I shared the difficult news that due to the extraordinary challenging outlook, we were estimating that The Pituitary Foundation was potentially facing a very large financial shortfall, of approximately 30% of our total annual income.
Because of this, in order to safeguard the future of our charity, we took the difficult decision, with the support of our staff team, of temporarily reducing the charity, over the summer months of June, July and August. In practical terms, this means that all staff are now working 80% of their salaried hours.
We are currently mid-way through those summer months, and I thank the staff team for their dedication and adaptability during this challenging period.
We were devastated to lose our spring and summer fundraising events and initiatives this year. It was disappointing to cancel so many activities, especially after the hard work of fundraisers, supporters and everyone involved. Clearly very concerning too because of the potentially serious financial consequences to our charity of all the cancellations. It is looking unlikely too that events, in any significant size or number anyway, will fully return until 2021 at the earliest.
On a more positive note however, I am pleased to update you now that the outlook is now looking a bit brighter. Thanks to the real generosity and support of so many of you from our pituitary community, who have e.g. donated or fundraised towards our 500 Faces Appeal, kept your membership payments going, and contributed in whatever way you can, the financial risks to The Pituitary Foundation have reduced from what they were a couple of months ago.
Saying that, we are not out of the woods just yet. We are still forecasting a deficit of around £60,000 between now and the end of the year, and we face many uncertainties still, including the prospect of future lockdowns and major economic challenges.
The financial progress we have made so far, thanks to everyone’s collective efforts, is a reason to be cautiously optimistic. This means we are now working through the recovery stage for The Pituitary Foundation, in response to Covid-19, starting with planning towards returning to full staffing hours again from September. From there we will plan what comes next, as the situation keeps unfolding week to week at the moment.
We do know that the next 12 months will continue to be very challenging. So now we must keep persevering, together, as we have done over the past four months. We still need your help. We are only part way through the recovery journey and the destination is not yet in sight.
With sincere thanks to the generosity and kindness shown by so many.
The continued support of our community of volunteers, members, supporters and staff will help us to rebuild our charity for the benefit of pituitary patients and families into the future.
Menai Owen-Jones, CEO