Diving Right In.

One of the interesting results of getting our 501(c)(3) so far ahead of schedule was the fact that we had been spending time figuring out methods to fundraise without our tax-exempt status.  We had done little preparation for approaching foundations and corporate sponsors as we thought those meetings to be months away.  However, due to the amazing efficiency of the Internal Revenue Service (yes, I did just say that), we are ready to get rolling.  This week has been about fundraising planning.

In May, Reach, Inc. was awarded first prize in Harvard's Educational Enterprise Innovation Competition.  As a result, we were given some free consulting hours with Andrea McGrath, Director of the Center for Applied Philanthropy.  During a conversation with Andrea this week, we discussed what materials Reach, Inc. would need in order to approach potential funders.  We have decided, for the time being, to focus on a crisp one-pager detailing the program and a more fully developed business plan.  In the coming weeks, we will be focused on producing those materials so that we can effectively present this innovative design to interested parties.

Additionally, I have been thinking about how to reframe our fundraising goals.  Now that our fiscal year is legally defined as January 1 to December 31, our numbers need to be shifted a little bit.  The year 1 fundraising goal of $100,000 was meant to be for June 2009 - June 2010.  While some work still needs to be done, it seems that our goals must now be lined up by fiscal year.  There is still work to be done, but initial numbers for our new fundraising goals follow:

• 2009: $50,000, Planning, Networking, and Fundraising.
• 2010: $200,000, Program Development and Pilot Program Launch.
• 2011: $400,000, Program Expansion and Evaluation.

Finally, next week, while continuing to pursue all available funding leads, we will also continue exploring some areas for programmatic learning.  During the week, I will be meeting with Lynsey Jeffries of Higher Achievement, a program that provides tutoring to students through middle school.  I know she will have much to teach me about effectively partnering with DC Public Schools.

Thanks, as always, for reading,

Mark 

Founder and President - Reach, Inc.