Financial Strategy

The financial strategy for the Ogogo Foundation will ensure it operates sustainably, transparently, and grows following its core mission of providing quality education for the underprivileged in Obanliku LGA and Cross River state. The plan also details how we drive diversified revenue, allocate resources well, and maintain fiscal sustainability.

Sources of Funding

  • 1. Self-Funding: Given our passion for the educational development of our community, the foundation will be solely funded from our private income within the first two years of its operations.
  • 2. Grants by International Donors: We intend that our work will align with SDG-alignment organizations with a focus on SDG 4, SDG 1, and SDG 8 which focus on quality education, no poverty, decent work and economic growth respectively. More specifically, our potential donors will be UNICEF, UNESCO, USAID, GPE (Global Partnership for Education), the World Bank, and UNDP. We will apply for grants every grant period by matching our vision with global goals and creating content that resonates with the educational needs of rural Nigeria.
  • 3. Corporate Social Responsibility: (CSR): Within Nigeria, we will partner with national and multinational companies with CSR programs geared towards education, youth development, and community strengthening. We will work with companies in the oil, finance, and telecommunications sectors such as MTN Foundation, Shell Nigeria, Chevron, Access Bank, etc. We will approach this by highlighting the social return of investing in education specifically with at-risk communities.Other sources of funding for the foundation will be philanthropic contributions, partnership with the Ministry of Education for implementation of policies and programs, social enterprise, and income-generating activities to reduce reliance on external funding.

Resource allocation and budgeting

The foundation will be focused on ensuring the majority of our funds are used and directed towards the implementation of the core programs and vision for its setup. About 70 – 80 percent of funds will be allocated to scholarships, school infrastructure development, teacher training, and community outreaches. Regular and financial audits and program evaluations will ensure funds are judiciously used for intended purposes.

Operational Expenses

The organization will utilize a lean and efficient operational structure to maximize the impact of its funds. About 30 – 20 percent of funds will be used to cover administrative costs, including logistics, staff salaries and other incident cost. This will be achieved through a focus on hiring a small, dedicated team and utilizing volunteers where possible to keep costs low.

Financial Sustainability Plan

The foundation will prioritize the diversification of its funding sources to not be dependent on one stream of funds from grants, donations, partnerships/revenue streams. This will be achieved through the continual development of new donors. We will also develop ongoing relationships with donors which will help to retain funding from year to year. This would be achieved through sharing programmatic wins and impact in annual reports, newsletters, and project updates with donors. We will also develop revenue-generating social enterprises for the sustainability of the foundation through the expansion of vocational training programs into income-generating activities (e.g. farming, tailoring, ICT services), and specific profit shares to cover operation costs.

In summary, the financial strategy is geared towards ensuring the foundation achieves the goals of its establishment while ensuring its sustainability, transparency, and accountability. Prudent resource management, long-term partnerships, and diversification of funding streams will ensure the foundation secures the funds needed to deliver on its mission and create a lasting impact in the underserved communities of Obanliku and beyond.