Misallocation of funds
The Make a Way Foundation was founded with the aim of fighting poverty and hunger that involved communities with hope and self-reliance. The foundation had planned for a children’s summer expense project but in the process of goal realization for this fiscal year, it has been realized that there is a misallocation of funds that can be attributed to the following reasons.
Some officials who do the scoring for the awarding of the funds fail to follow the right criteria in many cases. So some applicants were unequally treated and in times were awarded more or fewer dollars than they deserved. It led to mismanagement of funds since in the process of awarding the money, there was unfairness.
Secondly, some of the officials are incompetent in the duties they have been accorded to partake. It has led them to allocating funds to some miscellaneous expenses that were not foreseen by the foundation. Third, there has been an increase in the number of projects to be funded in this first half of the fiscal year. It has led to more funds being allocated to the projects leaving little amount of fund in place.
The children’s summer project is one of the key plans of the foundation and has to be realized by the foundation. Some of the ways to realize this project is organizing for a walk in order to raise more funds to fund the project. Secondly, the foundation can organize for a grant from another financier who would cater for the misallocated funds. The third option is for the foundation to plan and organize fundraising for the foundation. Though it would consume some money, in the end, the foundation would be in a position to meet its obligations.
References
Helmut K. Anheiner, D. L. (2006). Creative Philanthropy. New York: Shawner Publishers.
K., M. (2009). Misallocation of Fundation Funds. Chicago: Harvard Publishers.
Keter, P. N. (2012). Children Foundation. New York: Jayne Publishers.
