Free Nonprofit Budget Templates

Those details will come in super handy when you start projecting expenses for next year. A nonprofit budget is crucial as it helps you keep a check on your long and short-term goals. It will also keep your donors informed as it is rather important that you have a certain level of transparency with them.

Improving Chances of Securing Funding

This gives you a greater understanding of the different business aspects of a nonprofit and provides a framework for considering how to most effectively distribute your funds. A well-planned budgeting process is key to your nonprofit’s success. A nonprofit budget template is a fillable document that simplifies your budgeting. It should include some typical sources of revenue and expenses, which saves you time on listing everything out. If any of the sources don’t apply to you, you can just delete them—likewise, you can add anything that’s missing. Your expenses will include the costs of running your nonprofit organization; such as salaries, rent, office supplies, and marketing.

Total Up Your Figures

Pleasant green shades on the cells perfectly focus attention, but do not distract from the cold counting. In this regard, you definitely will not lose it among other documents. A little lower, there is a place to record information about your organization, including name, email, address as well as other information. Next, you can find a structured spreadsheet where you can easily record all expenses (Government Tax, Various Billings, Non-Working Staff Wages, etc.).

Present Your Budget to the Board for Approval

• In this sense it is the primary source for making informed decisions, assessing funding needs, and communicating financial expectations to your board and stakeholders.
• Additionally, determine a timeline that ensures approval prior to the fiscal year-end.
• In the world of non-governmental organizations (NGOs), effective financial management is crucial for sustainability and impact.
• This guide provides a practical framework for assessing grant-funded programs and making the most of your funding opportunities.
• By choosing Zeffy, you can save more on your nonprofit’s expenses and keep 100% of your donations, with no hidden charges.

Make sure you include space for corporate donations on your budget, so you get a clear idea of how your income is split between individuals https://namesbluff.com/everything-you-should-know-about-accounting-services-for-nonprofit-organizations/ and corporations. This will help you plan your activities for the year ahead, so you know who to target with your campaigns and marketing. Seeing as appeals are usually for a specific project, this is an easy way to help you track those funds so they don’t get lost in your general revenue pot. Sometimes your revenue won’t come from an established program or a product you offer. Individual contributions can be a major way of funding your nonprofit.

For this reason we wait until after all the direct allocations are completed before we turn to allocating the indirect costs. The two most common methods for allocating indirect costs to programs are percentage of total direct costs and percentage of FTE. This example shows the estimated expenses and revenues of a nonprofit organization that runs community programs. The organization has planned to spend $102,500 on operations and projects (expenses) and expects to raise $135,500 through donations, fundraising events, and program fees (revenues).

• Since this is such an important document for accountability purposes, the layout should be easy-to-navigate, and the relevant applicable formulas should be as accurate as possible.
• It shows that your “and organization has thoroughly considered the financial aspects of the project.”
• By regularly updating this basic budget template, small NGOs can monitor their financial health and adjust their strategies as needed to ensure they remain on track toward achieving their goals.
• A popular methodology for this kind of planning is the S.M.A.R.T model, originally formulated for determining management goals.
• Gain clarity and control over your financial health with our Yearly Profit and Loss Statement Google Docs template.

Adequate research and realistic cost estimation

They come in different varieties to give you more choices for a reference! Not only that, we also have some important insights about the budget document written on our article! The budget was designed to meet Top Benefits of Accounting Services for Nonprofit Organizations You Should Know the needs of nonprofit organizations. It helps them create and maintain a comprehensive budget plan that provides financial stability and supports their mission.

• Compare how your pledged, requested, and other received amounts are doing in relation to each other to determine in which revenue areas there needs to be a renewed focus.
• Learn how to create a customized template that supports your grant-seeking success.
• To estimate your expenses, review your organization’s financial history and base your estimates on that.
• It includes taxes, wages for the staff, building maintenance, office supplies, repairs, funds, and others.