Thankview’s Nonprofit Budget Template is specifically designed to help nonprofit organizations manage their finances effectively. It offers a user-friendly layout that allows for detailed tracking of both income and expenses, ensuring that organizations can maintain oversight of their financial health. The Nonprofit Annual Budget Template is designed specifically for nonprofits looking to streamline their yearly financial planning.

Set Clear Financial Goals

• Rachel Grusin, Project Coordinator for the Legal Aid Society of San Diego, further explains that nonprofits can’t expect to slide in a line item without a clear explanation for why it belongs.
• It should also include program revenue, demonstrating to potential funders that you have a clear plan for how to obtain funding for the specific project or program.
• This includes defining your budget categories (income, expenses, etc.), time periods (monthly, quarterly, etc.), and any other parameters unique to your organization.
• Clearly defining these will help you allocate resources effectively and guide decision-making throughout the budgeting process.
• This helps non-profits plan their financial year efficiently, making it easier to compare actual income and expenses against the budget throughout the year.

Additionally, monitoring the budget allows for adjustments to be made so that the nonprofit can stay on track with their goals. In December, 2017, the Financial Accounting Standards Board (FASB) issued changes for simplifying classification of nonprofit net assets. While the nonprofit budget is not subject to these standards, it will be easier if these changes are implemented to remain consistent moving forward. To summarize, contributed revenue, such as donations, contributions and grants, are simply classified as contributed revenue with or without restrictions.

Operating Budget

Project budgets should accounting services for nonprofit organizations outline your overall spending plan for your entire project, from successfully executing it to evaluating its impact and sustainability. We interviewed over a dozen grant consultants and professionals to understand what grant budgets need to pass the sniff test with funders and convince them to open up checkbooks. Remember to include, record, and track non-monetary contributions with you budget. This might include volunteer hours or non-monetary contributions such as vehicles or other equipment. List them so that the value zeroes out while still being accounted for. Within five (5) business days after we receive your registration request for an online course, you will receive an email with the details needed to get started, including your username and password.

How to determine nonprofit income for a budget?

• The goal of creating a nonprofit budget is to ensure that the organization has enough money to cover its expenses and reach its financial goals.
• Many nonprofits strategically select their fiscal year to align with their operational rhythm.
• For example, your goal for 2025 can be to increase fundraising revenue by 20% to support a new educational outreach program.
• For nonprofits, budgeting plays a pivotal role in aligning limited resources with their mission-driven objectives.
• This guide offers tips on tailoring your approach for each funder type, helping you excel in both areas and increase your chances of securing funding for your nonprofit.
• Seems obvious, I know, but I have on more than one occasion received a budget typed up in a Word document.

In this article, we will discuss what should be included in a nonprofit budget, how to create one, and provide a template and example budget to help guide you through the process. A nonprofit operating budget is different than the capital budget, and it plays an important role in budgeting for nonprofit organizations. Your capital budget includes projects that have an ongoing impact on your operations. A capital budget is also used to plan for major expenses like construction costs and other big, one-time expenses that take more than a fiscal year to fund.

What tools should I use to create a nonprofit budget?

As we look towards 2025, nonprofits face a unique set of challenges and opportunities. From fluctuating income streams to increasing demand for programs, organizations must plan carefully to navigate financial complexities while maximizing impact. Whether you’re managing general operations, launching a new program, or amplifying your marketing efforts, a thoughtful budget can be the difference between a successful year and a strained one. The template’s operating expenses section allows you to easily determine your rolling cash balance. Use this basic sample annual nonprofit budget template with sample text to guide you through the process of balancing your nonprofit’s budget. When estimating fundraising income, don’t forget to look at multi-year trends in your organization’s fundraising.