Developing Sustainable Income
Over the last four working days I have been fortunate to be invited to put forward a project case study to two groups of graduate trainees from the large global accountancy firm, Ernst & Young. As part of their training programme teams of 6 are given a brief by a charity to solve a specific problem. In our case I asked them to identify how best we could sustainably double our guaranteed income from around £2500 pa to £5000 pa.
The process involved my giving them a written brief on day 1 and attending a one hour meeting with them. For the next two days they worked on the problem calling me back at the end of the second day to present me with their findings.
Both groups worked very hard for us and we are very grateful for their efforts. Their findings were never going to contain the "magic pill" but they did contain some useful specific suggestions for fundraising and some interesting contacts as well as a broad and general conclusion that our major problem is really to do with "exposure" to a wider audience who may make the one off donations, large and small, as well as our band of regular supporters who join in on events. In addition they highlighted the fact that our biggest single fundraiser over the past 10 years has been an Everest Base Camp Trek and that if we could get enough exposure we should attempt to run one or two more which would easily help us to raise £40,000. This could then be invested with our other funds to give interest income therefore meeting the objective.
Al their ideas will be incorporated into the discussion at our next planning meeting of the Trustees.
The process involved my giving them a written brief on day 1 and attending a one hour meeting with them. For the next two days they worked on the problem calling me back at the end of the second day to present me with their findings.
Both groups worked very hard for us and we are very grateful for their efforts. Their findings were never going to contain the "magic pill" but they did contain some useful specific suggestions for fundraising and some interesting contacts as well as a broad and general conclusion that our major problem is really to do with "exposure" to a wider audience who may make the one off donations, large and small, as well as our band of regular supporters who join in on events. In addition they highlighted the fact that our biggest single fundraiser over the past 10 years has been an Everest Base Camp Trek and that if we could get enough exposure we should attempt to run one or two more which would easily help us to raise £40,000. This could then be invested with our other funds to give interest income therefore meeting the objective.
Al their ideas will be incorporated into the discussion at our next planning meeting of the Trustees.
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