Business Plan: Difference between revisions

===Ideas===

 

 

 

"Most schools have their money in roughly four buckets: 1) general, 2) plant, 3) endowment, and 4) grants. Most for-profits, Jim notes, have just one such bucket; the nature of the accounting in schools is different in this important way. There are three types of money: 3) permanently restricted (e.g., many endowed funds); 2) temporarily restricted (e.g., grants and other “use-it-or-lose-it money”); and 3) unrestricted (within reason; the board can still constrain its usage somewhat, if needed). Jim emphasized the importance for heads of institutions to be the “translator” of the financial issues related to the school for the community at large. He cites to Herzlinger’s four questions that we (as leaders and trustees) should ask about the financials regularly: 1) are the organization’s goals consistent with its resources?; 2) are the sources and uses of resources matched?; 3) is there intergenerational equity?; and, 4) are present resources sustainable? ”High performing organizations aren’t just lucky,” Jim tells us. Another good line: in education, “you can’t cut your way to prosperity.”" (Harvard business school Professor James P. Honan)

 

Fundraising: http://worlduniversity.wikia.com/wiki/Fundraising

 

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