Managing Financial Stability
Managing Financial Stability
What is financial stability?
Financial stability
Why plan for financial stability?
Ensure financial security - defined as a peace of mind you feel when you aren't worried about revenue being enough to cover expenses. Easier transitions through the years to come Will allow you to focus on the real work and task at hand Planning Process
Determine and compare the amount of money the group has, needs, and wants. Set objectives Consider the possibilities Choose among the possibilities Develop your strategy Develop a timeline Draft a plan Incorporate feedback from membership Implement plan Monitor and evaluate NASHUA LITERACY COALITION TIMELINE FOR DEVELOPING FUNDING POSSIBILITIES Goal
Action Steps to Meet Objective
By whom
By when
Renew current grant
Write a new proposal that takes into account the foundation's new emphasis on community collaboration
Jeannie, Marcelo, Robin, with input from area churches, schools, shelters, the library, and Head Start
12/2021
Edit proposal
Board of Directors
2/2022
Develop a fee-for-service tutoring program for high school students who will be taking standardized tests
Look into the legal consequences of a fee-for-service program
Leslie (a lawyer on the Board)
8/2021
Decide fee scale, logistics
Rashma, Jeannie
9/2021
Train literacy tutors for this type of tutoring
Robin
10/2021
Market program at area schools
Tanisha
11/2021 and continuing
Work with other organizations in town to do some of the literacy work
Meet with heads of area organizations to suggest the idea
Jeannie
10/2021
Train staff and volunteers of interested groups as tutors for literacy
Robin
11/2021 and continuing
Ask city to pay for base costs as part of annual budget
Meet with council members, discuss possibilities
Jeannie with help from the Board
3/2022
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