Growth Phase: Starting Out
Title: Educational Expansion through Transparent Finance
Headline: 15% Increase in Funding Secured Through Enhanced Financial Reporting
Short Description: EduReach Academy used FYNANCE’s reporting and budgeting tools to build trust with donors, increasing grant funding and program growth.
SME Background:
EduReach Academy is a nonprofit organization providing after-school tutoring and vocational training to underserved youth. As a newly founded NGO, EduReach relied on inconsistent donations and struggled to demonstrate financial credibility to donors. Founders recognized a need for stronger financial planning and transparency to scale their impact.
Challenges:
- Unstable funding: Heavy reliance on irregular donations made long-term planning difficult.
- Lack of financial visibility: Donors requested detailed budget reports, but EduReach had only basic spreadsheets, harming credibility.
- Inefficient budgeting: Without a formal budgeting tool, the organization often ran short of funds mid-project.
FYNANCE Implementation:
- Budget creation: Implemented FYNANCE’s budgeting module to plan operational and program expenses, ensuring grants covered key initiatives fully.
- Reporting templates: Generated professional financial reports and projections to share with donors, using FYNANCE’s export features.
- Real-time tracking: Used FYNANCE to monitor actual spending against budgets, flagging overruns early and reallocating funds when needed.
Outcome:
- Increased funding: The academy secured 15% more in annual donations and grants, as transparent reports boosted donor confidence.
- Improved planning: 100% of planned programs were fully funded through better budgeting, reducing project delays.
- Operational efficiency: Automated tracking saved administrative time, allowing staff to focus on program delivery.
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