Analysis of Diversification of Funding Sources as a Financial Management Strategy in Achieving Financial Independence of Educational Institutions at Madrasah Aliyah Ma'arif 7 Sunan Drajad

Abstract

Educational institutions can achieve financial independence by diversifying funding sources, ensuring budget flexibility, reducing reliance on a single source, and minimizing financial instability risks. The purpose of this study is 1) To analyze the strategy of diversifying sources of funds in seeking financial independence at Madrasah Aliyah Ma’arif 7. 2) To find out the effectiveness of the strategy of diversifying funding sources in striving for financial independence at Madrasah Aliyah Ma’arif 7 educational institution. The research method used is a qualitative case study type at Madrasah Aliyah Ma’arif 7 Sunan Drajad. Data collection using observation, in-depth interviews and documentation. Data analysis techniques using the Miles and Huberman method, namely data reduction, data display and drawing conclusions. While the data validity test uses the triangulation method. The results of this study are 1) the financial freedom that has been achieved by the Madrasah Aliyah Ma’arif 7 Sunan Drajad educational institution refers to the cash flow quadrant theory which is grouped into 4 if in the world of education, namely 30% SD (student donation), 10% GD (government donation), 40% B (business), 20% I (investment). In the strategy of diversifying sources of funds, there are several sources, namely SPP, BOS funds, industrial services, land investment. 2) This strategy of diversifying sources of funds is considered very effective in seeking financial stability by not relying on one source of funds alone, so that it can reduce the risk of fluctuations and instability in the finances of educational institutions.