21+ Free Non Profit Budget Templates [Excel+PDF]

non profit budget template 4

A non profit budget template is an effective tool created to control the financial resources of a nonprofit organization. In the planning the future of a nonprofit organization, a well-planned budget is the first step. This document assists in achieving the desired goals with limited resources. It also helps you in making a perfect plan to manage the income and expenditure of the organization.

What is nonprofit budgeting?

Planning is the important tool in achieving your desired goals in any field of life. To track expenditure and revenue, profit or non-profit organizations make annual or monthly budget plans. It is the best way to organize all the things efficiently such as;

  • how to get an amount of money to accomplish a specific program
  • how much money we need
  • where this money will be spent

Moreover, budgeting provides you a way to achieve all the things smartly. Donations and grants for non profit organization are the only way to meet the expenses that they require in helping others.

The stakeholders of a certain program makes some important decisions on its budget. The perfect budget planning reduces the risk of failure in case you want to take your organization to the next level. Many companies fail in their starting year due to poor planning and budgeting. Lack of investment and poor management are the two factors that lead your company to failure.

Objectives of budget:

Here are the primary objectives of making a budget;

  • The main objective of creating a budget is to control and manage the organization’s expenses.
  • It gives a way to achieve desired goals under the limited resources.
  • It is a helpful document that identifies the future income in a specific period of time.
  • When financial resources are not enough, it is used to make important decisions in adjusting the goals.
  • The budget makes a clear comparison among previous and future financial conditions that assists in deciding either this program or business is profitable or not.
  • Budget coordinates various departments of the organization towards the same goals.
  • To manage the activities of the organization effectively, budget sheet encourages the organization’s manager.
  • Analysis of the current condition of the organization and budgeted goal enhances the efficiency of the organization’s departments.
  • For the betterment of the organization, budget spreadsheet identifies the organization’s activities that are important to fulfill on time.

How to make budget for nonprofit organization?

Here are some steps to make a useful budget sheet;

Timely planning

You should start the planning of your budget timely in order to create a successful budget for your organization. You require enough time for this purpose so that you can do it efficiently.

Estimate expenses

At first, you have to calculate the expenses for each month. The cost that is directly used for a specific project, monthly staff cost and other expenses should be estimated.

Expected income

The next step is to identify the revenue over the next year. The expenses of the organization fully based on the existed and expected money of the organization.

Determine variable expenses

Identify the variable expenses of your organization in order to set up a successful budget.

Unexpected funds

You should keep yourself always ready for the unexpected costs. For example, your organization’s computer is damaged or your company gets a big loss from a program so you have to plan for such kinds of unexpected events.

Financial management

In the budgeting process, it is the most essential step. According to the expected income, it’s time to organize and control all the expenses.

Conclusion:

In conclusion, a non profit budget template is the useful tool that control the money of the organization. It assists the company in tracking and achieving the desired goals. It is the best way to plan the future of the organization.

You Might Also Like