Introduction
One Warm Coat (OWC) is a nonprofit organization that assists those less fortunate by providing them with donated warm coats. The organization made it its mission to provide those who would not otherwise be able to purchase warm coats with ones that it has donated to them. It also collects lightly worn winter coats from various organizations and then donates them to those having difficulty making ends meet financially. It is ensured that children have access to fresh jackets throughout the winter months, which helps reduce the risk of hypothermia (One Warm Coat, 2022, para. 2).
OWC is an organization that, in addition to supplying jackets, works to increase awareness of the need for warm coats and encourages individuals to make financial contributions to the organization or give some of their time so that everyone may remain warm during the winter. The company can obtain grants from organizations such as Walmart and The Home Depot. The company’s program involves appealing to donors for available grants, where the strategy involves seizing opportunities and utilizing available resources.
Mission Statement
OWC is a nonprofit organization dedicated to addressing the need for warm coats in communities that lack sufficient supplies. The winter brings cooler temperatures, which raises the risk of cold-related illnesses such as hypothermia, frostbite, and other similar conditions (One Warm Coat, 2022, para. 3). As a result of their lack of access to warm clothes, many individuals are unable to protect themselves from the cold, jeopardizing their health and increasing the likelihood that they may suffer serious complications. The organization is committed to ensuring that individuals who lack the financial means to purchase a coat can still receive one, as doing so will keep them safe and warm throughout the chilly winter season.
Program Description
One Warm Coat assists those in need by delivering coats to individuals via various delivery methods. They distribute coats that have been generously donated to those in need, and they also collect coats that have only been worn lightly and are still in good shape (One Warm Coat, 2022, para. 4). The organization works in collaboration with a wide range of organizations to give away coats that have been donated to people in need. Additionally, it ensures that no one falls ill due to the severe winter weather by providing children with brand-new, freshly laundered jackets.
OWC is an organization that, in addition to supplying coats, seeks to raise awareness about the need for warm coats and invites individuals to make financial contributions or volunteer their time with the group. The organization’s name comes from its dual mission of providing coats and raising awareness about the need for warm coats. This group makes resources available to anybody interested in giving or helping, and they frequently arrange events that raise awareness of the cause that they support.
Available Grants
Charitable organizations that provide grants to nonprofit organizations include the Walmart Foundation, The Home Depot Foundation, The Goldman Sachs Foundation, the Bill & Melinda Gates Foundation, The Kresge Foundation, Walmart Gives, and The W.K. Kellogg Foundation. Others, such as the Robert Wood Johnson Foundation, the David and Lucile Packard Foundation, and the National Endowment for the Arts, are among the organizations that have supported the arts (Marticio, 2021, para. 5). Each of these groups serves a specific purpose through sponsoring initiatives and activities.
The Walmart Foundation is committed to alleviating hunger, promoting education, enhancing health, and fostering environmental sustainability. The Home Depot Foundation awards funds to organizations that assist in building and renovating homes, particularly those for veterans, low-income families, and underserved areas (Marticio, 2021, para. 6). The Goldman Sachs Foundation funds nonprofit organizations that promote education, economic growth, and job creation. The Bill & Melinda Gates Foundation provides financial assistance to nonprofit organizations that aim to advance global health and educational opportunities. The Kresge Foundation provides financial assistance to non-governmental organizations whose primary aim is to improve the social and economic situations of poor communities.
Multiple large entities utilize philanthropic efforts to address distinct societal needs. Walmart focuses its grantmaking on nonprofit organizations to increase public access to affordable goods, essential services, and necessary resources. Other foundations prioritize human welfare: the W.K. Kellogg Foundation targets charitable bodies that aim to enhance the lives of underprivileged children, families, and communities.
Similarly, the Robert Wood Johnson Foundation provides funding to U.S. non-governmental organizations to advance health and healthcare (Marticio, 2021, para. 7). The David and Lucile Packard Foundation also supports nonprofits seeking to improve the well-being of children, families, and communities. A separate focus is maintained by the National Endowment for the Arts, which allocates grants to U.S.-based nonprofits dedicated to the support and enhancement of the arts.
Table 1. Organization’s Grant
Funding Methods
The acquisition of financial support for an organization is a crucial process that requires a thorough investigation and meticulous preparation. The first step is to understand the organization’s financial needs (Dinçer & Hacioğlu, 2017, para. 4). This can be achieved by identifying the resources, programs, and services that require funding and the corresponding financial resources needed to maintain them.
Following this, research prospective sources of financing by first determining the organization’s financial requirements and then investigating the grants made available by local, state, and federal governments, as well as public and private foundations (“How to get funding for a nonprofit organization: Top methods, 2022”). After this step is completed, the next step is to devise a fundraising strategy, which should include a timetable, a budget, and a list of objectives to be achieved.
The organization has to submit a request for financial help by first ensuring that all of the conditions for the application are well understood and then completing all of the necessary documents to the best of their ability. After the funding has been allocated, it is essential to monitor the funds to ensure they are being used as intended. Overall, it is necessary to analyze the financing to determine whether it was successful and if any adjustments are needed. If organizations follow these measures, they can increase the likelihood of securing adequate funding for their operations.
Interim vs. Long-Term Preparations
A short-term plan is a plan that is oriented toward achieving goals in the relatively near future. Goal-oriented planning is the term used to describe this form of planning (Aguilar et al., 2019, p. 180). In most cases, One Warm Coat necessitates planning for the next several months or years, which includes determining the resources and activities required to achieve the defined goals.
Developing long-term goals for the company and making preparations for the future are both essential components of effective long-term planning. During this kind of planning, OWC makes choices on the primary goal and strategic direction, in addition to decisions on administration and resource allocation. It also involves planning for long-term choices, including investments, partnerships, and collaborations.
Operations and Budgeting
OWC is an effective and prosperous firm that operates with a clear sense of purpose and direction in its job. They have an effective method for raising awareness, attracting financial contributions, and recruiting volunteers, and a well-developed system for collecting and distributing jackets (Shethna, 2021, para. 5). In addition, it has an effective strategy for boosting public awareness and motivating people to give their time. It has done an excellent job of managing the money, as well as developing ties with other organizations to help spread the word and reach a more significant number of individuals in need of assistance (“How to get funding for a nonprofit organization: Top methods, 2022”). The organization is transparent and trustworthy, as seen by the website, which contains copious amounts of information on the business’s activities and finances.
In addition, the company places a significant amount of importance on engaging in ecologically responsible activities, such as responsible resource management and minimizing the adverse effects that their operations have on the surrounding environment (Aguilar et al., 2019, para. 5). One Warm Coat is dedicated to ensuring that all individuals, regardless of their age or the circumstances of their socioeconomic status, have access to the services that the organization provides. The company puts significant efforts into modernizing its business processes in the hopes of boosting both its productivity and its efficiency. This is the most significant contribution that it makes.
Strategic Process for the Organizational Growth
Identifying of Areas for Growth
The first step in growing the One Warm Coat organization is to identify areas for growth and opportunity. This includes expanding their reach by partnering with more organizations and increasing their advertising and marketing efforts (Shethna, 2021, para. 6). Additionally, the organization should focus on expanding the collection of gently used coats and financial donations. This can be achieved by increasing outreach efforts and offering incentives for donations and volunteer work.
Outlining a New Budget
The second step is to create a budget that reflects the increased growth. This should include increased marketing and advertising spending, as well as additional funds for collecting and distributing coats. It is essential to ensure that the budget is realistic and that the organization has the resources to sustain the increased growth. The organization should also consider investing in technology to help streamline its operations and improve efficiency.
Establishing New Partnerships
Finally, the organization can invest in partnerships with other organizations. These partnerships should be carefully considered, focusing on expanding the organization’s reach and providing additional resources and support. Additionally, the organization should consider strategic investments in technology to help improve its operations and increase efficiency. This organization can grow and make a more significant impact in its communities by following these steps.
Financial Stability Analysis
Revenue Sources
Donations of jackets that are in good condition and have only been used occasionally, as well as financial support, are the organization’s primary sources of revenue. In addition to this, they have established relationships with a variety of organizations in order to facilitate the dissemination of information and the accumulation of financial resources. Additionally, a minimal amount of money is put aside for the group to use for marketing and promotion, both of which contribute to an increase in donations. This is done to increase the amount of money that can be donated to the organization.
Expenses
The distribution and collection of jackets are free of charge to the organization, which also takes care of any associated costs and levies. Expenses incurred for marketing and promotion are included in these fees. In addition, there are costs associated with the investments that the Company makes in the development of new technologies and the relationships that it maintains with a wide variety of other companies. In addition, there is a limited amount of money that has been put aside to support the organization’s operating and administrative expenses.
Assets
The majority of the Company’s available cash is put toward paying for its administrative expenses, despite the fact that the Company only has a limited amount of cash on hand. This is the case despite the fact that the Company only has a certain amount of cash available at the moment. In addition, they only have a limited amount of resources and pieces of equipment that they can use to collect coats and give them out to those who are in need. This makes it difficult for them to collect and distribute jackets.
Liabilities
The level of debt that is now carried by the Company is at a reasonable level, and the bulk of it is utilized toward paying the expenses that are associated with marketing and advertising. In addition to this, as a direct result of the relationships that they have established with a significant number of other businesses, the amount of risk that they are subjected to is significantly lower than it would have been in any other circumstance. This is the case because they have established relationships with a considerable number of other businesses.
Conclusion
One Warm Coat is a nonprofit organization that has done much and is highly efficient in its operations. They have decided to help people in need by supplying warm garments. Their remarkable efforts to collect and distribute jackets, as well as raise awareness, have been beneficial. This demonstrates their level of dedication to the subject. They can continue their expansion and significantly influence the regions in which they are already engaged, as they have both a well-defined budget and a strategic plan that has been previously implemented.
The organization has taken exceptional steps to ensure that its activities will continue into the foreseeable future and that its efforts will be concentrated on the prompt and appropriate distribution of jackets to those who are in need. In addition to that, the company has made a significant effort to ensure that all of its operations are sustainable.
References
Aguilar, B., Jain, A., & Neaves, K. (2019). Short-term funding and financing alternatives. Debt Markets and Investments, 2(4), 167–184. Web.
Dinçer Hasan, & Hacioğlu Ümit. (2017). Risk management, strategic thinking, and leadership in the Financial Services Industry: A proactive approach to strategic thinking. Springer.
How to get funding for a non-profit organization: Top methods. (2022). Getting Attention. Web.
Marticio, D. (2021). 9 best grants for Non-profits in 2022. Fundera. Web.
One Warm Coat. (2022). Impact: 30 years of sharing warmth. One Warm Coat. Web.
Shethna, J. (2021). Strategic planning process: 10 effective steps for strategic planning. Educba. Web.