FREE 14+ Nonprofit Budget Templates in MS Word PDF Excel Google Docs Google Sheets Pages Numbers

The use of budgets aids the stakeholders of a non-profit organization, like the management and the board of directors, in the creation of the future of the non-profit. At the same time, The Key Benefits of Accounting Services for Nonprofit Organizations it assesses the current financial condition of the organization. For a wider selection of non profit budget templates, check out more options here.

Identify Expenses

• The SmartStreet Free Nonprofit Budget Templates offer a variety of tools tailored for different aspects of nonprofit financial planning.
• So whatever project your organization’s board of directors is planning to do, it should have a corresponding project budget.
• This template provides an accurate picture of your nonprofit’s budgeted operating costs and all-around fiscal health.
• This fully customizable template helps you determine your organization’s monthly, quarterly, and yearly net income so that you can gauge the financial health of your nonprofit’s budgeted operations.
• They can be one time, recurring, or anything in between—if it costs you, then it’s an expense!

Staff salaries, costs, and benefits all need to be recorded within your budget. Keep your budget simple and group these personnel expenses together, or split them out by team or activity to give you a more in-depth idea of your staff costs. While program revenue often accounts for the majority of nonprofit income, sales are also really common. Here you can include revenue from memberships, products, and other resources that you sell alongside your programs. Here you’ll include any revenue from the programs your nonprofit runs.

Helps Inform Your Decisions

This is also because everything depends on how much grants non-profit collects must be more than how much it can afford to spend. So it has clear income and expense segments with the listed variables for the budgeted column and the year-to-date column. More and more nonprofits are finding that cloud-based tools solve these issues, often incorporating templates and automated pathways that take a lot of the stress out of budgeting. Creating a cash flow forecast that tracks expected income and expenses on a monthly or quarterly basis can make a big difference. Use detailed historical data and consult with your nonprofit program managers to develop accurate estimates of expenses and stay on top of underestimating costs.

Steps for Creating a Nonprofit Budget

The Nonprofit Annual Budget Template by Smartsheet is one of those budgeting tools that is a must to have on hand if you desire to oversee your budget from a broader perspective. Effortlessly manage your budget using our free Budget Spreadsheet Google Sheets and Excel template, designed to help you track expenses, set savings goals, and achieve financial success. One key reason many nonprofits struggle when it comes to accounting and finances is their failure to treat their organization as a business. While nonprofits and small businesses differ in many ways, managing your nonprofit’s finances similarly to how you’d run a business is essential for success. While you might have a comprehensive nonprofit business plan – situations can change, and so will your budget. Understanding your cash flow is extremely important in order to make assumptions about future spending.

Categories

To calculate year-end budget totals, contrast income (e.g., sales, contributions, fundraising, etc.) with expenses (e.g., office equipment, transportation, utilities, etc.). Whether you are just starting out or are looking to improve your existing budgeting process, nonprofit budget templates are the perfect tool for you and your organization. A non-profit organization that is not able to budget properly will not be able to conduct any kind of operations. To avoid that, they will need to know their income and expenses to see if they can do what they need to. This template can help make a document which points out information on a non-profit organization’s financial status, effectively allowing them to make decisions regarding their operations.

What is a Nonprofit Budget Template?

This includes program expenses, staff salaries, an operating budget and other expenditures. Once finalized you can create the nonprofit budget template in excel to make it easy for you to update next year. These resources are crafted to save you time, reduce administrative burdens, and help you focus on what truly matters—advancing your mission and serving your community. The SmartStreet Free Nonprofit Budget Templates offer a variety of tools tailored for different aspects of nonprofit financial planning. These templates are designed to assist organizations in managing their budgets effectively, with features that help track income, expenditures, and analyze financial data to make informed decisions.

Below, we explore the major challenges of a nonprofit budget proposal and provide real-world examples of how organizations have successfully addressed them. Most likely, your organization’s executive director will lead the budgeting process, but a nonprofit accountant can also provide support. A nonprofit budget is essentially a financial document which lays out how your nonprofit is planning on spending its money. It’s not so much about setting goals as it is making a plan for how you’ll meet your goals. Considering how important the role of nonprofit organizations are in the society, it is just right to secure their planned undertakings. Through it, their institution can carefully set things up way before any project takes place, revamping its efficiency during the actual implementation.

• Filling in a clear, simple nonprofit program budget template will give you all the details you need to make strategic decisions.
• Finally, a realistic timeline for budget preparation should be established, ensuring enough time for review and adjustments before final approval.
• However, this doesn’t mean that your nonprofit’s overhead spending can go unchecked or should be prioritized over program expenditures.
• They come in different varieties to give you more choices for a reference!
• Contact us if you have any questions about donation letter templates, bylaws for nonprofit organization, or any of our free templates for nonprofit organizations.

Every organization’s budget will look slightly different, so make sure you can customize your chosen template to fit your needs and goals. A nonprofit budget template Excel creates is pretty similar to a nonprofit budget template Google Sheets does – so don’t be overly concerned about the platform. Proper budgeting can help make sure you use resources effectively, prevents overspending and ensures the financial health of your organization. Creating and managing a nonprofit budget is more than a financial task; it’s a strategic process that enables your organization to https://greatercollinwood.org/main-benefits-of-accounting-services-for-nonprofit-organizations/ align resources with mission-driven goals. A program budget focuses on the specific financial requirements of a particular initiative or project. Nonprofits must create program budgets to showcase the direct impact of donations and grants.