Dost Education

"We were starting to get big enough where accounting wasn't enough, we needed to see our financial data from a more strategic perspective to make decisions and brought Vanreusel Ventures in because they understand the realities of working in the nonprofit sector and being a global organization. They set out to streamline our monthly finances, prepare incredibly useful finance packets for board presentations.

As a result, we as an executive team can focus on making decisions well, rather than spending all of our time and energy on running finance. It was great to work with someone who gets us, supports us, is patient, and also quick to jump in as if they're part of our team when we've had last minute needs. The whole experience has been great, and I appreciate how they have helped us think in the long-run when it comes to our finances. I'd recommend Vanreusel Ventures to anyone who is growing fast and wants an experienced finance team at their nonprofit.

Did you have an internal finance team prior to engaging with Vanreusel Ventures?

• • No. There was an Indian firm doing the bookkeeping.
  • We helped Dost update the finance manual, COI, Cyber security policy, whistle blower policy, and anti-human trafficking policy to help strengthen the internal controls and help achieve a clean audit
  • Created finance packet, board deck, annual budget to help build a solid finance team

How big was Dost's internal team at the time of collaboration?

• • Back office internal team was 2 founders
  • During our engagement, North America team expanded to 3 people. Monthly check-ins are in place to discuss fundraising, programs, and other relevant topics.

Did you have a specific objective or goal in mind when seeking guidance from Vanreusel Ventures?

• • Best in class financial management to scale the organization
  • Proper reporting templates, decks, analysis are in place to help monitor the performance of the organization, and progress the organization makes to its mission

What were the specific challenges or roadblocks you faced that necessitated seeking external support?

• • Lacking the following:
    • Proper consolidation
    • Proper monthly financial reporting and analysis
    • Fundraising projections and goals that could help scale the organization
    • Policies for a solid internal control
    • Proper audit to show the financial health and internal control of the organization

Where is Dost heading now?

• • Looking to boost its organizational foundation this year as it has grown significantly the last few years ahead of another growth spurt.
  • Boosting both income and expenses to expand the reach and impact

Could you provide insights into three key milestones achieved during the collaboration with Vanreusel Ventures?

• • Monthly closing of books and financial packet + analysis, board presentations and communication with the board, clean audits in India and US
  • Internal policies
  • Financial templates in place
  • Annual budgets
  • Auditor selection and engagement