A Case Study
“We faced very difficult challenges following our merger and felt overwhelmed just trying to keep up with the pace of change. Social Velocity’s work brought much needed clarity to the nature and cause of our constraints and laid out an actionable plan for strengthening our operations and increasing our revenues. Now we feel confident and poised for continued success.”
– Mindy Gomillion, Executive Director, BookSpring
In 2008 Reading is Fundamental and Capital Area Reach Out and Read merged to become BookSpring, a nonprofit that provides books and literacy-building skills to at-risk children and their parents in Central Texas. In 2010, two years after the merger, BookSpring was struggling to maintain funding levels during the recession and had been forced to reduce staffing, greatly decreasing their capacity.
BookSpring hired Social Velocity to create a Financial Model Assessment to help them figure out what was wrong and how they could turn things around. Social Velocity interviewed board and staff members and reviewed all organization policies, by-laws, finances, collateral, plans and documents. Social Velocity then created a detailed analysis of each area of the organization (strategy, program, finances, marketing, staffing, board, etc.) with recommendations in each area for how the organization could increase its capacity. Once completed, the Executive Director and Social Velocity worked closely together over the next 2 months to create a detailed plan for increasing the money coming to the organization from individuals, foundations, corporations and earned revenue.
What Social Velocity Delivered
Detailed Financial Model Assessment of the organization’s with recommendations for improvement
Comprehensive annual Financing Plan including all revenue areas with activities, deliverables, people responsible, budget and timeline
Training for board and staff on major donor fundraising
With the help of Social Velocity’s Financial Model Assessment and revenue plan, BookSpring moved forward to create a comprehensive strategic plan, upgrade staff capacity, increase their fundraising function, and get the board more effectively engaged with the organization. The organization moved from a reactive and survival mode to a strategic stance, plotting the future for a much stronger organization.