There are many different types of nonprofit funding sources, each with its own advantages and disadvantages. In order to succeed, it is important to maximize revenue streams by diversifying your nonprofit funding sources. This guide will help you become more sustainable and continue to support your mission.
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Nonprofit Budget Basics: The Key to Financial Health
A nonprofit budget is a financial plan which outlines how a nonprofit plans to spend its money. It is important for a nonprofit to have a budget in order to track progress and success, and to make sure that resources are being used efficiently. A budget should be reviewed on a regular basis and be flexible so that it can adapt as circumstances change.
[Read more…] about Nonprofit Budget Basics: The Key to Financial HealthNonprofit Cash Flow Forecasts: How To Avoid Deficits
Nonprofit cash flow forecasts predict when revenue comes in and when revenue goes out. It is an excellent tool to avoid cash shortfalls. By pinpointing deficits during a 12-month period, your nonprofit can avoid a crisis before it becomes a major problem.
Surviving COVID-19: Nonprofit Sustainability Plan
As the COVID-19 crisis unfolds, both nonprofit bottom lines are impacted — mission and financial. Following a nonprofit sustainability plan is key to survival.
[Read more…] about Surviving COVID-19: Nonprofit Sustainability PlanTo Survive and Thrive: Nonprofit Board Oversight Responsibilities
An experienced board of directors bolsters a nonprofit by lending the gravitas and credibility of the members’ combined experience. However, a nonprofit board is more than reputational window dressing. It is meant to conduct nonprofit board oversight responsibilities.
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