Acting with complete transparency is one of the FERO Foundation’s core values. For this reason, we are always open to answering any questions and concerns that may arise about our foundation. In today’s blog post, we will answer the four most common questions about the foundation, but if you still have any unanswered questions, please do not hesitate to contact us.
How is FERO funded?
FERO is a private foundation and, therefore, is funded by private contributions from both individuals and companies involved in the cause. For our supporters, research is the path to curing not only cancer, but any disease.
At FERO, we follow a translational research model, a type of research that Dr. José Baselga championed in 2001 to lay the foundations of the FERO Foundation. As we have said on other occasions, translational research is based on transferring results from basic research to clinical practice, enabling patients to benefit more quickly from scientific advances against cancer.
The success of this model is underpinned by an infrastructure that needs constant development to remain fully optimised. To achieve this, a fundraising strategy that mobilises society is required.
What is the budget allocated to?
The FERO Foundation’s budget is around €2.5 to €3.5 million per year. This is by no means a negligible figure, but it is far from everything needed to fight cancer.
Approximately half of this budget is allocated to fostering young talent through FERO Fellowships. The rest of the budget is directed towards strategic agreements the foundation has with leading research centres. For example, those we have with Vall d’Hebron Hospital in Barcelona, 12 de Octubre Hospital in Madrid, or INCLIVA in Valencia, where excellence in research into oncological diseases is developed and promoted.
Both the agreements we have and the projects and talent we support share the same leitmotif that drives us: innovative translational research aimed at eradicating cancer as a cause of death.
What needs to change for more money to reach research?
For more money to reach research, it is necessary to amend the patronage law to increase tax deductions for donors—something that must start with public institutions themselves, which do not place much trust in research. Dr Baselga used to say that Spain has a great deal of young research talent, but lacks the support needed to retain it.
Researcher training in Spain is excellent, and professionals trained here are highly valued abroad. We must put a critical economic mass on the table to ensure that all this talent returns and develops their ideas, many of which are groundbreaking, innovative and disruptive. The future of the fight against the disease is in their hands.
A tax framework similar to the Anglo-Saxon model, which truly encourages the involvement of civil society in research and other third-sector causes, is needed. This would increase the funds we could allocate to research and, therefore, help bring back the talent that has gone abroad to do research.
How can you help?
Any individual who would like to contribute can do so easily. We have discussed this in more depth in another blog post, but you can find out how to do it at: https://ferocancer.org/sumate/.
You can also follow us on our social media channels to stay up to date with all the latest news. Share this post and our profiles with your acquaintances, friends and family—this also helps us greatly to raise awareness of the foundation’s work.
Together, we will get closer to the end of cancer.
