Direct Costs: These are expenses directly associated with the program, including training, recruiting, and hosting costs. For example, training costs may include materials and instructor fees.
Indirect Costs: These costs are not directly tied to program activities but are necessary for operation, such as administrative salaries and building maintenance.
Opportunity Costs: This refers to the potential benefits lost when participants and instructors spend time traveling to and from the program instead of engaging in other productive activities.
Funding Sources for Sustainability
Diverse Funding Strategies: It is crucial to employ multiple funding strategies to ensure program sustainability. This includes seeking funds from Medicare, Medicaid, private insurers, and various government agencies.
Community Partnerships: Building collaborations with local businesses and organizations can provide unique skills and resources that enhance program offerings.
Program Participant Fees: Charging fees for program participation can also contribute to funding, although it should be balanced with accessibility for older adults.
