Dough to donuts: Tools to use to create the budgets you need

I’m curious… did that Max Planck quote in last month’s blogpost have you excited for your next finance committee meeting? I know that now, with your enhanced appreciation for the benefit budgeting can play in the sustainability of your organization, you’ll look at the task with at least a bit less disdain right?

Well even if you weren’t gazing in curious fascination at your organization’s Excel worksheets, hopefully it did prompt you to at least investigate making a conscious attempt at beginning or revamping your budgeting process.

Yes, it is a process. One with several steps and it is cyclical. But the beautiful thing about it is getting started because once you do, you’ll be giving your organization an amazing gift—a financial history that can be built up, down and any way necessary to reflect changing needs.

So, this month as promised, I’ve included a myriad of tools, including templates, checklists and guides you can use to get your organization building the financial risk management a sound budget can give.

Let’s start with examples. Grantspace by Candid includes a link to a free budgeting course as well as info on different types of nonprofit budgets.

Got specific questions on budget creation, like what type of budget you need or whether or not you can make a profit? The Council on Nonprofits has gathered a number of resources you can use to answer those questions as well, including scenario planning and specific guidance on financial planning for executive directors.

The approach to creating budgets is pretty basic but there are some particular considerations when planning for fundraising, program and capital or expansion projects.

Disclaimer: While there are references to a number of vendor products in this post, by no means is this a direct or implied endorsement of any product, method or service, nor am I receiving any compensation for doing so.

Fundraising

The Chronicle of Philanthropy is a great source of reference information on the topic. This article mentions several resources under their premium plan. I sprung for these two for you: Budgeting for Fundraising Growth: Where to Start, and Creating a Budget That Helps Increase Contributions.

Download the fundraising event sample budget on this site as a ready-to-use spreadsheet to plan your next event.

The Nonprofit Kit for Dummies, from the for Dummies series has great basic information on fundraising budgeting, and budgeting for events.

The Wallace Foundation has a downloadable budget-building template and accompanying video you can use to develop a budget for your programs.

Programs

In this Harvard Business Review article, the author assesses program budgeting through first explaining how the establishment of a planning and accounting system resulted in much improved costing and planning for one particular organization. Though written more than 40 years ago, the salient points are not only still relevant today but serve as a reminder to organizations of how far nonprofit “business” has come.

Capital and Expansion

The Moran Company offers this checklist for consideration when creating a capital campaign budget.

There’s more to consider in brick and mortar expansion than construction, furnishings and equipment as this Charity Channel Press article advises.

As you can see, there are plenty of resources you an use as you begin your organization’s budgeting process journey. Wherever you are in your budgeting education, how have you experienced the process at your organization? What can you share that made for an inclusive, team-focused practice?