A well-planned budget can be the difference between long-term financial sustainability or dissolution due to insufficient funding. Not only is it important to have a detailed budget to forecast revenue and spending but it also reveals a larger picture of how your nonprofit operates. This insight will help your financials stay closely connected to your mission.
Why Budgeting is Important for your Nonprofit &
How to Do it Properly - Article by Bloomerang
"Understanding what a budget is and its importance is crucial for every organization because it can be a way to achieve financial sustainability. But what is a budget exactly? Some people see it as a forecast, meaning a prediction in the future. Others see it as a target or even a wish list. However, it is nothing similar. A budget is just a financial document that provides an overview of how an organization is planning to spend their money. It must be centered around the primary goals and objectives of the organization." Read more