FUND FOR EDUCATION ABROAD

We envision a future in which any U.S. student who dreams of studying abroad will be able to participate. We believe the value of education abroad is so great that no barrier—financial, curricular, or personal—should be insurmountable. We foresee a future in which our scholars work to increase global understanding, give back to their communities, and mentor future generations of Fund for Education Abroad scholars.

The Fund for Education Abroad (FEA) was established in 2010 to address the need for an independent scholarship provider to enable more American college students to study abroad. FEA is a national nonprofit organization funded exclusively by philanthropic support, and the only organization dedicated to providing scholarships to students largely underrepresented in study abroad. FEA's focus is on increasing access for promising first-generation college students and students of minority background. FEA's awards of up to $10,000 offer one of the largest independent education abroad scholarships available.

The FEA Board and staff are judicious stewards of our resources, both human and financial, and as we continue to grow, we are committed to sustainably and intentionally (i) increasing the number of scholarship awards for underrepresented students with established financial need, (ii) delivering on high-quality programming to support our scholars and alumni, (iii) broadening brand awareness and reach, and (iv) enhancing and maintaining organizational, governance, and financial processes to ensure the fulfillment of the FEA mission.

After seven years of sustained growth, FEA is poised to invest more deeply in the international education of the next generation, sustainably scaling our efforts so that our scholars may work to increase global understanding, give back to their communities, and mentor future generations of FEA Scholars.

The Board of Directors created a strategic plan in 2017, with the following four goals over the next five years.

GOAL 1: Deepen Access
FEA is a mission-driven organization focused on access and equity yet the dilemma remains that only 3% of applicants, or 50 students, received awards during the last cycle. Our top priority is to increase our capacity to fund a greater number of deserving applicants each year, raising the number of scholars funded and the amount of monies disbursed.

GOAL 2: Invest in Scholars Before, During, and After Study Abroad
As our earliest recipients begin to enter the workforce, and our scholar numbers grow each year, it is urgent that FEA create programmatic, long-term relationships with scholars before, during, and after they study abroad. Alumni programming will promote leadership opportunities, professional development opportunities, and a network of self-supporting alumni with the launch of the Alumni Council, co-chaired by two extant Alumni Members of the FEA Board. The Alumni Council will be charged with alumni communication and events, and engagement of alumni in fundraising to support their efforts. In addition, it will convene at an annual reunion and conference that is held in conjunction with the FEA Gala.

GOAL 3: Broaden Brand Awareness
Broadening brand awareness is the next step to creating a recognized national scholarship that conveys an enduring stamp of approval to the recipient, a value potentially greater than the financial award itself. Equally, broadening brand awareness will draw talented applicants to FEA, and encourage students with promise who might not have previously considered study abroad.

GOAL 4: Build a Sustainable Future
FEA is committed to financial sustainability, transparency, and the judicious use of resources to meet or exceed commitments to stakeholders. Over the next five years, FEA will develop operating fund resources sufficient to achieve the goals and objectives of the strategic plan, scaling to provide the resources to support scholarship growth and programming. FEA will intentionally work to minimize the vagaries of changing conditions by identifying multiple stable sources of income, and growing the community of donors who embrace the mission while intentionally minimizing reliance on any one funding source.

FEA has an affiliated Board of Directors which is responsible for much of the scholarship administration, dissemination of information about FEA, and fund raising on behalf of the organization. Reaching the organization's short- and long-term financial goals, including the establishment of an endowment for scholarships, necessitates increasing and diversifying fundraising sources. FEA has developed a five-year fundraising plan, identifying both short term and long term corporate and foundation prospects, and recruited a Campaign Steering Committee to lead a $10 million comprehensive campaign. FEA's Board of Directors and Campaign Steering Committee have members who are well-respected in the fields of international education and business, thus increasing its credibility and prestige with prospective donors.

In order to reach the organizational goals of disseminating information and becoming a leader in promoting diversity in study abroad, FEA is developing strategic partnerships with other organizations who work with our target populations. For example, a partnership with the Howard University has been developed in order to increase the number of HBCU students who consider study abroad an option and apply for FEA scholarships. Similar partnerships have been pursued with the Hispanic Association of Colleges and Universities, the American Indian Higher Education Consortium, and Asian American and Pacific Islander Scholarship Fund. Students in these underrepresented groups do not typically consider study abroad to be a part of their academic careers, and thus are not reached by the typical venues for advertising study abroad programs (such as informational fairs and meetings). Through partnerships with these associations, we are able to use their existing vectors for contacting these student populations and promoting the inclusion of study abroad in their academic plans.

FEA is very proud of all that has been accomplished in its first seven years: instituting scholarship parameters, eligibility requirements, and processes; overseeing the review and selection of almost 100 scholarships for a total of almost $400,000; and motivating the private sector to support education abroad. We are excited to have launched a successful alumni program, providing positive engagement for new scholars and their alumni counterparts. Additionally, we have added our first FEA alum to FEA's ever-growing Board of Directors. Finally, our fundraising efforts have increased exponentially; our 2017 Annual Gala brought in $157,000 alone, as compared to $80,000 in 2016.

A paramount challenge the organization faces is the difficulty in identifying and reaching the types of students that FEA aims to engage (i.e. underrepresented students such as minorities, first-generation college students, and community college students). Historically these groups of students do not consider study abroad an option, for both financial and cultural reasons. Developing strategic relationships with universities and other higher education organizations allows FEA to expand our reach and join broader efforts to reach these students. A successful outreach program in the fall of 2014 increased our applicant pool by 85%.

FEA intends to pursue its long-term goals while continuing to serve its past, current, and potential scholars through its daily operations. We continually review the needs of our scholars and, based upon such assessments, seek to provide the services which will most benefit the students. During the current times of economic hardship, we are investigating how students can best showcase their time abroad to employers, to ensure that a study abroad experience can be an asset in the future, as well as an invaluable experience in the present.