Navigating Your Numbers: 5 Budgeting Tips for Nonprofits
By Kristi Howard-Shultz, Kristi Howard-Shultz Consulting
It’s that time of year again—budget season! Whether you’re new to the task or a seasoned pro looking for a refresher, our guide aims to provide you with insights for effectively navigating the budgeting process. With some practical pointers from KHS Consulting , you’ll be ready to cruise through the budgeting process with confidence. After all, your budget isn't just a spending plan—it's a roadmap that guides your fundraising goals and even helps you secure crucial grants. While things might drift off course as the year unfolds, laying down a strong foundation now will help keep your mission on track.
1. Decipher Your Data
The information in your donor, volunteer, and membership databases, as well as your accounting figures, are crucial in plotting your course for the upcoming year.?Your finance team should break down expenses and revenue by program or activity area, as these insights will pave the way for a solid budget.?Be sure these numbers are up-to-date, reconciled, and accurate as a first step, as this is the information that provides the framework for all of your budget decisions.?