Financial Sustainability Model to University of Prince Mugrin
Introduction
University of Prince Mugrin is a non-profit entity established by Cabinet Decision No. (22) dated 09/01/1438 H, based on the fundamental system of the university. According to Article 2, " University Of Prince Muqrin is a non-profit private educational institution established by the Albayan Charitable Foundation for Educational Purposes in Al-Madinah Al-Munawarah.
The university possesses distinguished expertise in various fields, including scientific, operational, and strategic aspects. It has high experience in implementing projects within the Kingdom of Saudi Arabia and extensive international relationships to execute national plans and major development projects. The university aims to diversify income sources by creating and innovating qualitative investment opportunities that achieve social impact and financial sustainability, focusing on endowment projects and initiatives in the non-profit sector.
To ensure the continuity and expansion of university activities and maximize their impact, the University Business Development Agency was established. The agency's goal is to achieve the financial sustainability of the university and expand available resources through participation in investment and endowment projects in the Kingdom of Saudi Arabia.
To ensure the continuity and expansion of university activities and maximize their impact, the University Business Development Agency was established. The agency's goal is to achieve the financial sustainability of the university and expand available resources through participation in investment and endowment projects in the Kingdom of Saudi Arabia.
Objective
Build an innovative business model through specialized consultation to achieve the financial sustainability for University Of Prince Muqrin by diversifying the investment portfolio with financial and endowment products. This includes conducting an in-depth study of the current situation, global and local best practices, and future opportunities.
Project Scope
The scope of building the financial sustainability plan for University Of Prince Muqrin includes:
- Study and analysis of the current situation and future investment opportunities for the university.
- Study of available endowment investment options, their suitability for the university's current situation, including endowment investment funds, portfolios, real estate endowment projects, crowdfunding platforms, investment in promising sectors such as technology, etc., and the most suitable distribution for the proposed investment options.
- Preparation of a strategic plan for the sustainability of the university, business model, partners, their tasks, and roles aligned with the university's strategic plan. This includes:
- Investment in university facilities according to best investment and operational models.
- Diversification of self-revenue sources through academic and professional programs, specialized studies, and partnerships with public and private sectors.
- Utilization of university staff expertise in providing consultancy, research, and training services through the establishment and activation of business entities.
- Activation of the university's role, marketing its brand, and expanding its investments.
- Creative investment projects.
- Clear performance indicators and long- and short-term targets for each indicator.
- Expected financial risks.
- Preparation of the executive (operational) plan to activate the sustainability model resulting from the project.
- Preparation of a marketing plan to mobilize resources and donations in line with the university's legal status.
- Development of policies, regulations, and procedures for the university's self-revenues and investments to achieve financial sustainability, transparency, control, and accountability in line with the university's policy development standards.
- Study of financial risks, identification of the best scenarios and plans to manage them, to determine potential risks that may affect the university's sustainable financial model, and to identify the necessary actions to deal with these risks.
- Efficient project management, identification of available resources, and appropriate allocation to achieve project goals.
- Development of an innovative accounting system for managing funds, revenues, and expenses to improve financial management operations and identify opportunities to improve the university's financial returns.
- Focus on leveraging modern technology and artificial intelligence in analyzing financial data and predicting potential risks to improve the sustainable financial model and identify available investment opportunities.
Note:
Technical and financial proposals should be submitted in a sealed envelope with the presenting entity's stamp and delivered to Mr. Nizar Asiri, Director of Support Services at University Of Prince Muqrin. The deadline for proposal submission is 07/01/2024.