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Before you can initiate a Big Brothers Big Sisters program or a Boys and Girls Club, you must have the resources in place to operate. But, just having a start-up grant to get your program off the ground is not enough. You must also be planning for the long-term financial sustainability of the program, well before that start-up grant runs out! Keep in mind that it is irresponsible to initiate a new Big Brothers Big Sisters program or a Boys and Girls Club without a solid plan for longer-term financial support. You need to have a plan for ongoing financial resource development.
A resource development sub-committee should be formed, to create a plan for developing a strong financial resource base. As the committee develops its plan, they should consider the following:
- Assess the resources that exist internally. For instance, maybe one of your volunteers owns a construction company that can donate some of the materials and volunteer labour needed to renovate your facility. Or, perhaps a teacher on the advisory committee can arrange a partnership with local schools. Or, perhaps your organization has funds it can invest in the new program. And, maybe one of your volunteers has a lot of business connections, and can be helpful in securing corporate donations
- Assess the possibilities of accessing external resources. External resources could include support from governments, foundations, the United Way, corporate donors, small businesses, service clubs, individual donors, gaming activities, sponsorships, special events, product sales, fees, and other sources. A diversified base of support provides added security. In the event that a special event fails, or a funder cuts back, you still have other resources to keep the program operating
- Although there is probably no such thing as a reliable revenue resource base for charitable groups these days, the sub-committee should pursue support that has long-term, multi-year potential as much as possible
- Set clear, measurable goals. Make realistic, even conservative, projections
- Assign responsibility for the specific tasks involved in working towards the established goals
- Establish timelines. Know the start and end-dates of existing funding. Know the deadlines for funding proposal submissions. Know the program’s cash flow schedule (i.e., when money comes in and when it goes out) and other resource requirements. By mapping out these timelines, you can help ensure that the resources will be in place on time. Be sure to extend the timelines of your financial plan at least two years into the future
- Create processes and systems for evaluating your progress and revising the financial resource development plan if necessary. Simply, this means ensuring that key information is tracked regularly, and time is set aside to use this information to evaluate progress
- Make sure all resource development activities enhance the program’s public image, and comply with your organization’s policies and with national standards and current ethical standards35
- Have a back-up plan, or two, or three.
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