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Budgeting Basics for Nonprofits, by Lorman

Budgeting Basics for Nonprofits is brought to you by Lorman

Gain a better understanding of practical budgeting skills for nonprofit management.

Many nonprofits create budgets based on previous expenses or grant structures. Budgets are planning processes that create or determine policy for any organization. With some nonprofits who depend on their funding from typically one main source, nonprofits run financial risk when not using a budget process to plan for risk and market destabilization. This topic helps nonprofit managers understand budgets from a different process that allows the nonprofit to gain independence with diversified revenues, innovate ways to save on budgets, and above all else prioritize people and mission over spending and controls. The strategies presented in this material will help nonprofits build reserves and better plan for the future.

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