This winter, Thillen Education Foundation began collaborating on a potential analysis project with Emory University's Goizueta Business School IMPACT program, an experiential learning initiative that pairs MBA students with companies and organizations to solve real-world problems.
With long-term growth, scalability, and financial sustainability of our nonprofit in mind, the foundation presented the Goizueta IMPACT program with several options for student analysis.
Three fundamental challenges required input from teams of MBA students:
o Challenge 1: As funding grows quickly, establishing the foundation’s specific financial goals, as well as when and where to make appropriate investments to ensure longevity of funds to sustain the program.
o Challenge 2: As the foundation grows financially, understanding financial reporting requirements and documentation required as a GA nonprofit.
o Challenge 3: Staffing (if any), volunteers – do we have enough and how many do we need?
"Thillen Education Foundation was honored to be selected for participation in this presitigious academic program," says Dave Thillen, founder. "We asked for guidance on our organization's strategic plan for the next 5-10 years. In addition, we asked for a strategic analysis of the optimal method and timing for Thillen Education Foundation to roll out a plan to scale our unique model of student coaching/scholarship to other communities and school systems."
After numerous information and question and answer sessions with students, faculty and Goizueta staff, each of the three MBA teams met to formulate recommendations for the foundation.
In March 2021, IMPACT teams presented their findings and recommendations for strategic growth. "The experience was incredible," Thillen says. "We gained invaluable insight to guide us on our journey to ensure a brighter future for so many hard-working kids in Greene County."
Gain more insight into this innovative, real-world experience for Goizueta Business School MBA students.