Finance

One of the biggest challenges facing the Core Committee is ensure that the University receives the serious attention and financial support it needs to achieve its full potential. Among the most pressing challenges is to attract capital project to rehabilitate existing facilities and infrastructure and operating funds for the academic programs of this institution in an economically and educationally challenged region.

To respond to this challenge, the Core Committee will explore a variety of avenues to attract external funding and to conserve resources. One such avenue is to foster fundraising activities among the Somali Community in Diaspora and especially the Sool, Sanag, Hawd, and Nugaal Communities. Our fundraising and marketing plan has goals and strategic actions that are comprehensive and reflective of the University's mission.

The Core Committee recognizes that the resources required to build this institution are substantial and cannot be derived from the meager resources of the region and the generosity of the brotherly Diaspora alone. So securing additional funding from external sources is a high priority. Our plan is to secure funds from international development agencies, Islamic world, private philanthropic funds through promotion and marketing of the university's mission. We believe funding provided to the University should be seen as investment dollars leveraging the advancement of civil responsibility and economic development where most needed in the world.

Fundraising Campaigns

Develop fund-raising priorities and plans for the academic and physical campus of the University

Strategic Actions:

Conduct an assessment of the university's capital and operating budget needs

Write a Case Statement and Campaign Plan

Solicit input from stakeholders

Finalize the plan and launch the campaign

Identify donor prospect(s) interested and capable of providing the funds

Develop a fundraising plan for a comprehensive campaign for capital projects and operating priorities identified in the University Master Plan

Organize a network of prominent citizens (ex-officio members) and friends of SSH and Nugaal regions to assist with fundraising activities.

Establish friends of Nugaal University membership program, and develop a plan for membership drive.

Create student sponsorship program, where one or two people in the Diaspora will sponsor a student for a year or the duration of the program.

Establish the Nugaal University Foundation and develop a plan to initiate bi-annual fundraising campaigns.

Market the distribution and sale of Nugaal University wearing apparel, souvenirs and paraphernalia.

Develop a tuition and fee structure in line with those of other universities in the region.

Participate actively in major donor cultivation and solicitation.
Establish community partnership enterprise that can generate income for the university.

Fiscal Management

Develop fiscal planning and efficient management system of the University's resources.

Strategic Actions:

Develop financial plans with three year projections including university operating budget forecasts, construction and capital investment

Ensure that every dollar spent improving the infrastructure supports the university mission

Ensure financial decisions are part of a long-term vision.

Determine the financial resources required to support the fundraising efforts

Formulate a plan that fosters cost-effective measures to conserve university resources;

Develop mechanisms to audit and account for university resources.

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