Total approximate funding needed over 10 years

$10 million

Note: If existing Adventist infrastructure can be utilized, the initial funding requirements could decrease significantly

Start-up Expenses

  • Degree registration = $25000

    CNME eligibility application fee = $5000

    CNME Evaluation visit fee = $5000

    Accreditation candidacy fee = $23800

    Note: A certificate or diploma would be significantly cheaper ($5000).

  • New building construction = $6 million

    Equipment = $100000

    Note: suitable for up to 20 to 30 students

  • Office & general = $20000

    General maintenance = $20000

    Books and teaching supplies $15000

    Promotion/advertising = $8000

    Research = $10000

    Accounting = $5000

    Legal = $5000

    Other professional services = $10000

    Student events $1000

    Property taxes = $15000

    Payroll = $278000

    Rent to clinic site = $24000

Projected Tuition Revenue over 10 years

Year 1 tuition = $21.5K, Year 2 = $22K, Year 3 = $22.5K, Year 4 = $23.5K. Cohort 1 = 6 students. Cohort 2 (starting year 3) = 12. Cohort 3 (starting year 5) = 15. Cohort 4 (starting year 7) = 20. Cohort 5 (starting year 9) = 24 students

Necessary donations over 10 years

Year 1 = $6.6 million. Year 10 = $55K

Profit and Loss over 10 years

Annual profit of $45200 by year 10

Cumulative profit over 10 years

Cumulative profit of $178K by year 10

Approximate Initial Start-up Costs

Option A: Build new school: $16 million

Option B: Rent and renovate: $2.5 million

PROVINCIAL REGISTRATION FEES


To issue a “Naturopathic Medicine” Diploma or Certificate:

  • New career college registration: $1955

  • New campus registration $1211

  • Inspection fee: $490

  • New program application: $733

Total = approx $5000

To issue a “Doctor of Naturopathic Medicine” degree:

  • $25000 application fee

  • $10000 review costs (external expert review)

Total = approximately $35000

ACCREDITATION FEES BY THE COUNCIL OF NATUROPATHIC MEDICAL EDUCATION

  • Eligibility application fee: $5000

  • Evaluation visit fees: approximately $5000

  • $23800 per year of candidacy (x 2 years)

  • Total: approximately $57600

INITIAL INFRASTRUCTURE COSTS

Option A: Construct a new school (accommodating 10 to 20 students) + attached lifestyle center as primary teaching site in Ontario = approximately $11 - 15 million

  • Building construction and equipment: $10 - 13 million

  • Land purchase $1 to $2 million

Option B: Rent and renovate existing building(s) = approximately $ 1 million to $2 million

  • Renovations: $1 - 1.5 million

  • Equipment: approximately $300,000

Estimated Operating Budget

Annual expenses

  • CNME fees: $23800

  • Provincial renewal registration: $1211

Accreditation fees by the Council of Naturopathic Medical Education:

  • Eligibility application fee: $5000

  • Evaluation visit fees: approximately $5000

  • $23800 per year of candidacy (x 2 years)

  • Total: approximately $57600