FINANCIAL PLAN

The main goal of this project is to coordinate the work of professionals in order to create a more efficient educational system in the world. Establishing such a system is impossible without all participants’ financial interest in the final result. To achieve this, we propose to establish a special commercial company in which 90% of the shares  will go to the national associations of teachers of the participating countries, and the rest – to the active participants of the project. National Educators Associations form the Supervisory Board of the company with their representatives and hire regulatory authorities . National Associations cannot sell their shares, but can commercially profit from their part of the shares (according to the decided criteria) at their sole discretion for educational purposes, as to support teachers and other participants of the project, financing promising children’s projects, etc.

At first, the project financing will be formed from private donations and grants. The project will work for a huge audience, representing a significant part of the world’s population. Thus, advertisements can provide the main part of the project’s funding.

In addition, the further financing of the project may be carried out through the use of national educational resources (replacement of “paper” textbooks, etc.). Other possible sources of funding may be voluntary contributions of a part of the enterprises’ profit for the support of education initiatives (for example, 0.1% of total profit). An additional source of funding may be contributions from the production of special school tablets, other gadgets and training aids (for instance, 5.0% of the production volume). Other possible sources of project financing are to be discussed.

We suppose that tangible rewards for the development of learning materials would be received from national and international funds. Total revenue collected on the territory of each country (deducting corporate expenses) has to be divided according to the following principle: 80% on the national part, 20% on the international part. The national part of this funding could be spent only for the payment to developers of the educational materials from this country in accordance with the concordant procedure. The international part of the funding could be spent on the author’s reward for the international use of their materials. The procedure of compensating the authors is to be discussed by the members of the project.

Tentative calculation formula:

Q = k   x   (0.1 N + 0.3 M + 0,6 R)T, where

Q – total compensation for the development of a teaching material;

k – difficulty factor (relative coefficient for the subject);

N – total number of downloads of the material;

M – the number of downloads by professionals (teachers);

R – expert rating of the material;

T – relative financial unit for calculation.

 

Thus, each author and the designer (group of designers) get rewarded for development of the materials from national and international parts of the Fund.  At the same time, it is reasonable, because the revenue earned in the territorial bounds of the corresponding countries is spent there. Each developer could get an additional reward depending on the popularity of his material worldwide.