Archives:

Select:

New financial planning tool for afterschool programs in the COVID-19 crisis

READ FULL STORY

New financial planning tool for afterschool programs in the COVID-19 crisis

The COVID-19 pandemic has impacted the way we serve young people, forcing programs to adapt in myriad ways to ensure supports are available to students and their families. What once felt like a short-term shift is becoming the new norm, and the strain of lost revenue from program fees and contracts has left organizations wondering how they’ll weather these times and be ready to serve students when schools and businesses open back up.

We know these are difficult times for organizations, often resulting in tough decisions being made on personnel, programming, and other services. To assist organizations in planning for their financial sustainability, the Overdeck Family Foundation, in partnership with the Afterschool Alliance and Grafe Consulting, has produced a financial planning tool to assist nonprofit leaders with scenario planning during these uncertain times.

The workbook, an Excel template, allows afterschool organizations to forecast revenue, expenses, and cash, and to create multiple scenarios to evaluate financial sustainability in a fast-changing environment. Here's a brief guide on how to use the template. We hope this tool will be helpful in ensuring your organization is able to make it through these trying times and be ready to serve students in a normal capacity when we re-emerge from COVID-19.

This tool was developed by Zach Grafe at Grafe Consulting. If you have additional inquiries on how your organization can manage fiscal sustainability, reach out to Zach at zgrafe@gmail.com.

In addition to the tool above, the Wallace Foundation has partnered with Fiscal Management Associates, a national capacity-building firm that advises nonprofits on strategic financial management, to help nonprofits assess their fiscal situation and make adjustments. Additional resources are available below.

Interested in more information like this? Visit our COVID-19 resource pages and join the online learning community!

New Wallace Foundation and EdCounsel resource offers opportunities to discover funding streams and develop partnerships

This July, The Wallace Foundation launched a new free resource created by EducationCounsel (EdCounsel): “Using Federal Funds for Summer Learning and Afterschool: A New Guide for Providers, School Districts, and Intermediaries” to help out-of-school time providers and leaders, school and...

BY: Sophie Kidd      08/09/22

Funding opportunity: National grant initiative for civic learning projects

By Frances Hannan, Program Officer for the WW Higher Education Media Fellowship and the Director of Multimedia Projects at the Institute for Citizens & Scholars. The Civic Spring Fellowship has open applications for two innovative grant initiatives that will support young people looking to...

BY: Guest Blogger      04/04/22

States put kids first with new revenue streams

Several new state revenue streams are emerging in states from Alaska to Maryland, and lawmakers in those states are recognizing the value of investing in young people and families with the funds generated. In Louisiana, revenue from sports gambling is being used to support early childhood...

BY: Jen Rinehart      03/17/22

Now open: Grants Up to $100,000 from the New York Life Foundation for Out-of-School Time (OST) programs

The New York Life Foundation is seeking applications for $1,800,000 in grants to afterschool, summer, or expanded learning programs serving underserved middle-school youth. This is the sixth year of the Foundation’s Aim High grant competition, and the Foundation has increased the total...

BY: Dan Gilbert      12/01/21

Looking for funding? Our updated funding database can help!

Funding for programs can come from a wide variety of sources – federal, state, and local governments, foundations large and small, and other donor groups. Tracking down those funding streams and determining eligibility takes a lot of time and resources, which we know are in short supply....

BY: Nicole Pettenati      11/12/21

Apply now: $300 mini-grants to help young people make a difference in their communities

“Not only do young people have the capacity to understand the world around them, they have the capacity to lead it.” -Gabe Abdellatif, youth contributor and former trustee, America’s Promise Alliance  America’s Promise Alliance and the Charles Stewart Mott Foundation...

BY: Maria Rizo      06/04/21

Now open: Grant opportunities of up to $100,000 from the New York Life Foundation for out-of-school time programs

The New York Life Foundation is seeking applications for $1,350,000 in grants to afterschool, summer, or expanded learning programs serving underserved middle-school youth. This is the fifth year of the Foundation’s Aim High grant competition, bringing the total amount awarded to $ 6.15...

BY: Marisa Paipongna      12/15/20