Success Story: Latin American Youth Center

LAYC kids photo

The Source

Steve Linehan, Capital One Treasurer and Latin American Youth Center (LAYC) board member reached out to his Finance team to assist the organization. The Finance department leveraged an innovative training program that utilizes senior led-seminars which gives Capital One associates immediate, hands-on-experience and exposure to all faces of the department. At the conclusion of the program, they engage in a project to put what they have learned into practice. The LAYC Integrated Financial Plan became their project.

The Project

Finance directors within the department came together and performed a comprehensive analysis of the organization’s current financial position, review agency practices and understand overall policies. Once the analysis was completed, the volunteer team offered recommendations on a plan of action.

The plan included multi-year pro forma income statements, balance sheets, cash flows and debt principal and interest payment schedules. Furthermore, it included funder-specific, probability-adjusted revenue plans that identified the fund raising pipeline and gaps. And finally, it included contingency plans that specified expense cuts, changes or deferments if revenue plans were not realized.

The plan was approved by the organization’s finance committee as well as the LAYC board of directors and implemented in a timely and strategic manner.

The Impact

The implementation of the integrated plan not only helped LAYC secure the $2 million grant it also gave the organization the necessary planning tools and reports it needed to monitor and maintain it’s fiscal health.