As a well-wisher in education, there are some key elements that you will have to examine so as to develop a strong education foundation. As such, you will offer reliable charity to support various programs.
You first ought to assess how you will commit yourself to the education foundation. It is required that you get briefed on the needs of the organization for it to be fruitful. You will need to outline your responsibilities and ensure that you are passionate about the foundation.Be sure that you have the focus and committed to man such a foundation hence determine your roles.
Seeking advice from a lawyer will be necessary for coming up with the constitution of the foundation. Every organization requires to operate based on some particular tamed protocols. When making the decisions for your foundation, you will need to have someone to help you reason out. The laws that you make ought to be workable and be those that will enhance a smooth coordination.
The sources of money will have to be noted in the third place. For such organization to be operational, it will require some funds seasonally to build up infrastructure and facilitate its processes. You will, therefore, need to come up with a time plan for those programs that will need financial support and take note of those income resources that are reliable.
Selection of the members of the board is the fourth thing that you need to do. It is improper for you to call some of your friends and relatives and make them the members of the board. Board membership comes along with very many attributes that are beneficial to the foundation. Choosing different people who are not directly related to you will be essential especial when it comes to fund raising, you will find sponsors from all walks of life.
The fund raising plans are the ones that you will have to work on next. You will need to have enough capital so that you can run your project of the foundation with ease. Set goals and objectives for the foundation just like you could have done for a personal business so that you can attract donations.
The sixth step is for you to identify the conflict of interest within the foundation as a project and find solutions to it. Make use of the money that you will have collected through fund raising to help those who will be in need and not for any other purposes. If you are the director of such a project; there will be a need for you to distant yourself with politics.
The funds of the foundation must be used properly and as they are supposed to. It will be wrong for you to start confusing the foundation for a personal business.