Page 14 - Finances for Non-Finance People

BUDGET REPORTS

• Board Accountability: A budget is an essential tool for nonprofit board members to

understand the organization's financial situation. It provides a clear picture of the

organization's finances, allowing board members to make informed decisions

regarding fundraising, resource allocation, and strategic planning.

• Grant Applications: Many foundations and government agencies require a budget as

part of their grant application process. Developing a budget ensures that a nonprofit

can meet the requirements of grant applications and demonstrate its financial

stability.