Mobilization of Funds for Education.pptx

how to efficiently mobilize and utilize educational resources

1. Resource Mobilization

2. Resource Mobilization Objective: To gain a broad understanding of how to mobilize resources To understand the principles of successful resource mobilization To understand a few Do’s and Dont’sin responding to funders To identify available sources of funds (government, parastatals, private sector, local businesses, foundations and other national and international donors) To network and share lessons

3. Definition of Concepts Resources These are inputs required to carry out an activity. Mobilization This entails efforts of pooling together resources

4. Definition of concepts Resource Mobilization Refers to ways and means of reaching out to actual or potential sources of inputs required for project implementation

5. Definition of concepts Resource Mobilization Resource mobilization is the process of getting resource from resource provider, using different mechanisms, to implement the organization‘s work for achieving the pre-determined organizational goals

6. Definition of concepts Resource Mobilization Fundrasing : An organized activity of soliciting and collecting money for a Religious, NGO’s or educational institution activities

7. Resource Mobilization It is notable that: Foreign funding has been declining in amount over the years It is thus important for organisations’ sustainability to look for alternative sources of funding. A sustainable organisation therefore fulfils the following characteristics: A diversified funding base Availability of financial reserves Strong stakeholder relationship

8. Resource Mobilization A diversified funding base: An appropriate funding mix should be decided on. It is important to have a financing strategy which produces several different sources of income. To rely on just one or two donors for your income is to make the organisation vulnerable to external shocks. Diversification means securing funds from as wide a base as possible. This reduces dependency and gives autonomy. How can this be done in our organisation& programs/projects/facilities?

9. Sustainability

10. Sustainability Strong stakeholder relationship –have long term supportive partners e .g . donors, community, government etc. The key financial sustainability is to develop your relationship with an eye to the future as well as an eye on meeting today’s needs. This means building the confidence of stakeholders overtime .

11. E xternal Support Organisations get supplemented with external funding if they: Pursue missions and perform functions that are valuable to society Are able to communicate this to the society at large Undertake well-designed efforts to obtain the resources needed to perform these functions.

12. Ways of Mobilizing Resources Revenue from earned income Indigenous foundations Individual philanthropy Government sources Foreign Development Agencies The Corporate Sector Building Reserve Funds Endowments

13. Revenue from Earned Income Revenue from Earned Income It is important to be ‘businesslike’, that is being efficient, hard-working, professional and competent in all that we do If we are running a school, people will be willing to pay a fee to get their sons and daughters educated there If we are running a hospital, patients will be willing to pay a fee for the services at our facility Income Generating Activities: are activities where an organisation commits its resources with a view to reaping benefits/income in the future They should only be initiated after feasibility study

14. Revenue from earned Income Some considerations when starting IGAs Market for the product/service The way the initial capital is raised Competition with other providers The performance of other providers Capacity to manage the project Whether the service is within our mission

15. Foundations Foundations are funds set up within a legal structure to be a source of grants, loans or activities for religious, welfare, recreational or developmental activities They may be set up by private individuals, corporate bodies or by governments The terms & conditions are very specific e.g. Ford Foundation – was set up by the family of Henry Ford –of Ford Motor Company

16. Individual Philanthropy Asking for funds is not begging: You are giving a chance to someone to be involved in something worthwhile that you believe in You are offering people a chance to support something which they would like to support, but do not know how to

17. Individual Philanthropy Skills required for accessing individual philanthropy: Deal with both potential and actual donors Learn techniques of identifying them and asking for support Nourish & sustain those who have given in order to persuade them to give again Have a simple and understandable message