As a well-wisher in education, there are some key elements that you will have to examine so as to develop a strong education foundation. As such, you will offer reliable charity to support various programs.
To the education foundation, it will be necessary to find out on how passionate you are about it. It is required that you get briefed on the needs of the organization for it to be fruitful. It will be necessary to be passionate on running the foundation hence take note of the roles that you will play.
Seeking advice from a lawyer will be necessary for coming up with the constitution of the foundation. There ought to be guidelines through which each organization operates. Making an organizational decision ought to be well thought hence you will need to have someone to consult with. The laws that you make ought to be workable and be those that will enhance a smooth coordination.
The third step will be to decide where to get the finances. So as to build infrastructure and support the programs of such an organization, consistent source of money will have to be established. You will have to be aware of the time for implementation of some plans and the stable financial inputs in such a case.
Fourth, you need to choose the board members for that foundation that you are starting. You should never select your family members and friends and make them your board members. Board membership comes along with very many attributes that are beneficial to the foundation. Choosing different people who are not directly related to you will be essential especial when it comes to fund raising, you will find sponsors from all walks of life.
The fund raising plans are the ones that you will have to work on next. The capital to start and maintain a foundation is much, and for that reason you must ensure that you are getting help through fund raising. You need to handle the foundation as your business, and so there will be need for you to come up with the best objectives and goals that can move even those contributing towards it.
You need to address the conflict of interest for that foundation in this step. If some money has been raised to ensure that you are spending it wisely and on those who are in dire need. If you are the director of such a project; there will be a need for you to distant yourself with politics.
Lastly, you must ensure proper fund management within that foundation. It will be wrong for you to start confusing the foundation for a personal business.