Budget Process Formulation for Nonprofits
A key challenge nonprofit organizations face is the development of reliable budget models. Revenues can be sporadic and scarce, making it difficult to plan shared expenses across an organization, especially when short term initiatives and long-term investments are in the works. As a nonprofit leader, you need to develop, execute, and monitor your budget so that you can allocate resources and describe the benefits of your work.
The M Powered Strategies team can help you create streamlined budget processes and standardized tools that allow you to make the best business decisions for your organization. Our consultants will evaluate your current process to identify improvements and craft a tailored solution for your needs. This will allow you to easily develop budget projections, and align those projections to your priorities.
When You Might Need Budgeting and Projections
- Your current budget processes doesn’t capture the needs of all of your programs.
- You don’t have a good way of planning how to set aside funds for long-term projects like IT and strategic initiatives.
- Your budget is based on what’s happening right now, instead of being prioritized based on future needs, strategic directives, and tactical plans.
- Your budget plans are difficult to explain to key stakeholders, such as board members and donors.
To learn more about how an MPS budget process formulation project can help you achieve your goals, contact: