Part 2 of a 2 part series. Read Part 1 Last week we covered the components of an effective budget. To achieve a truly great budget for your nonprofit there a few processes you should focus on during its development. The first includes the human component of team building. To achieve a budget truly suited to your organization, be sure to include the necessary members of your organization. That means the budgeting process should be a team effort involving the board of directors, treasurer, finance committee, executive director, program directors, and fiscal staff.
Part 1 of a 2 part series Planning is a key area in all successful organizations. A budget is simply a planning tool that reflects an organization’s mission, program, and short term goals. It allows both management and your board of directors to adequately manage your organization’s financial health. A common best practice is to ensure an organization has an operating budget approved by its board of directors prior to the New Year.
Part 1 of a 2 part series. The Devil’s in the Details Few could debate the fact that writing a grant is strenuous and time consuming. Which is why receiving a letter rejecting your proposal can be so disheartening. It’s important to understand why grants get rejected prior to beginning your grant proposal. This two part blog series will provide you with a broad understanding of the common mistakes that result in grant rejection, and various tips to avoid them.
Part 2 of a 2 part series. (Read Part 1) Providing this information in advance will allow you and your board to make the most of your meeting time. You can also make the most of your presentation by keeping the following tips in mind while you are preparing and presenting to your board: Plan your approach: Prior to your board meeting, plan in detail what you would like to discuss and focus on the goals you wish to achieve.
Part 1 of a 2 part series. Reporting to your board can be a stressful obligation. However, it doesn’t have to be. Following these helpful tips will keep you on track with your board members, and ensure that your nonprofit’s financial decisions are based on accurate information. You should be reporting to your board on a quarterly basis, providing them with a clear financial portrait of your programs and operations. Providing accurate information is critical, as it ensures that your board will be able to provide correct advice and proper strategy.