Financialrisk and resilience
Key Financial Risks
1. Decrease in local funding adversely impacting the organisation's sustainability
Mitigation actions:
- a.For general funding, the strategy is to, where possible, bring on board corporates as part of payroll giving
- b.Approach B-BBEE consultants and B-BBEE verification agencies to enlist Cotlands for Socio-Economic development (SED), Supplier development (SD), and Enterprise development (ED) spend
- c.Approach Corporations with a child/play focus for CRM initiatives
- d.Look into opportunities for members to donate reward points, e.g., Discovery Vitality
- e.Try to secure Donations in Kind to reduce the operational budget
- f.Secure corporates to adopt Cotlands’ toy library sites that are unfunded/under-funded
- g.To approach and solicit funding from Administrators of Estates (i.e., Lawyers and Financial Institutions) to place Cotlands as a beneficiary
- h.Increase efforts to secure multi-year project funding
2. Failure to raise revenue to cover the organisation's operational budget
Mitigation actions:
- a.Increase in face-to-face donor engagements
- b.Develop a tool to track engagements with donors that is more robust to keep us focused and aligned
- c.Weekly check-ins of Business Development Manager and CEO
- d.Weekly focus planning
- e.Segmenting targeted funding for the ECCE hub components
- f.Retain niche skill of the previous Business development resource