The purpose of this document is to lay out an operational business plan that paves the way for meeting those objects.
Despite our governance structure defining us a philanthropic, not for profit entity, we are nevertheless conducting a ‘business’. This is an important caveat and needs to put on the table from the beginning. Yes our purpose is charitable, but this cannot be
Not for Profits that fail, often do so because Management do not confuses the charitable purposes operate them as a business, that somehow their charitable purpose means they can overlook things like targets, outcomes and strategies.
Like any business we have limited resources and we have to apply them as efficiently as we can.
The concept of ‘build it and they will come’ is nonsense. Our due diligence research told us that. Some of the Foundation’s of the schools we visited as part of our due-diligence process , floundered in their early years by wrongly making this assumption. They predicated their model entirely on an underlying faith of instant engagement with their constituencies. In other words, their College crest on a Donation or Bequest letterhead with some nice words would be enough to get sizeable donations from their respective communities. It wasn’t.
As has been noted in various reports to our Board (and Advisory Council) we have taken an ‘engagement-first’ approach. After doing this successfully for the past three years, it is now time we combine our engagement work with overt fund-raising.
The objects of the Foundation will only be fulfilled by a combination of hard work and faithful execution of a business plan, just like any successful ‘for-profit’ business does. We have markets, we have something to trade and we have to generate surpluses based on the most efficient use of our limited resources that generate good social dividends.