Achieving Financial Sustainability And Other Questions Southern Conference for Lifelong Learning University of Georgia July 2013
Sustainability Sustainability encompasses both financial sustainability and programmatic sustainability One is not attainable without success in the other We’re going to explore the financial part, but must look at the other aspects for proper context
ProgramSustainability The ability to develop, mature, and refresh program offerings to be responsive to members over time.
Financial Sustainability The ability to generate resources to meet the needs of the present while ensuring to provide for the future.
Non Money Aspects • Key requisites to long term financial sustainability • A Plan that looks to the future • Diverse and robust programming • Growing and participative member base • Engaged host institution • Strong and committed leadership • Meaningful outreachto stakeholders and partners
Learning Organizations Are Different Shapes – and Sizes • OLLI’s are in every state and DC – 116 in all • Wide ranges of member population • Varying demographics and histories • Tailored organizations and programs • Unique host institution interfaces All need reliable fund sources – nearly all have Osher endowments
Funding Needs • How do you determine funding needs? • Have some vision of your organization in the future? • Have a budget and a history of budgeting? • Have a relatively simple, fast method to project funding requirements? • Don’t become reliant on member fees only • Don’t constrain your program for apparent lack of funds
Other “Fund” Sources(Discussion and Idea Sharing) • Is 501c3 status something to consider? • Fewer than ten OLLI’s have non-profit status – an advantage for raising funds • Requires some administration • Do you have a giving program linked to host institution's foundation? • Do you leverage the affiliation with your host institution? • Community “partnerships” offer real opportunities • Grants, sponsoring businesses and organizations can be valuable support