Jacob Lief, the founder of the Ubuntu Education Fund, has decided to reform the spending strategy of his organization. Although the funding had been flowing incredibly, he realized that they were not making a significant impact towards the people that they had intended on helping.
Instead, the foundation will become more hands on with helping the children in Port Elizabeth. The fund will also deny donors that give grants with unreasonable sets of conditions. They will now be targeting individuals and companies with high net worths to negotiate more reasonable donation terms.
The model of the foundation will be to directly create plans for each family to directly meet their specialized goals. They will consider their health, safety, food, and educational costs.
Seeking out donors that are willing to give out money without complications is rare these days. There are some donors that have private interests in mind to demand the direction of funds into certain products or services. Some donors may also want to pay into the fund hoping that they will be given a position of authority within the association. Although certain donors may be helpful towards the cost, there are some that want to change the direction of the cause too drastically.
Another problem is that the wealthy may promise donations within their wills after their death. Such conditions may cause legal battles that make it hard for charities to see the full sums of the cash. It is especially troublesome when properties must be auctioned off and allocated to each beneficiary.
Charities receiving high volumes of donations may waste a lot of funds from overhead. Marketing, IT staff training, and more can be really draining from the main operations of the charity. The average charity spends around 25 percent of donations from just these overhead costs. Instead of chasing every possible dollar, the Ubuntu Fund will be putting everything into the original intention of the charity.
Andrew Rolfe, Senior Managing Director at Towerbrook, is another important executive of the Ubuntu Fund. Since joining in 2007, she has been the leader of the board of directors. His business insight has contributed greatly to the operations of the fund.