Non-Profit Budget & Finances

Only available on StudyMode
  • Download(s) : 494
  • Published : October 13, 2010
Open Document
Text Preview
Abstract

The objectives of the research project were to analyze non-profit organization budgets and finances. This project focuses on the importance of developing a budget plan. A Budget is a financial plan that requires necessary resources to achieve the program goals. The first step in this process will review the logic in developing a budget plan for a nonprofit organization. Next, I will define budgets and finances as a model of a preparation for developing a budget plan. The second step deals with the benefits of planning a budget. The third step exam the financial resources needed for the budget plan. Finally, to provide a checklist that can be used in the preparation process for developing a budget.

Introduction

In this research paper I will discuss non-profit organization budget and finances. Explain the importance of developing a budget plan as your strategize your business plan. To provide a definition of a budget that will bring a clear understanding of its functions. A budget is a financial plan that identifies the necessary resources to achieve your company’s program goals. Review the logic in designing a budget plan. The benefits of developing a budget plan. Finally, an example of a budget preparation checklist will be used as a guide for a non-profit organization. I. Budgets and finances for Non-Profit Organization

In developing a budget plan for non-profit organization your financial resources are important in reaching the business objectives and goals. The below information will discuss the rational in planning a non-profit organization budget plan. According to www.cpcs.umb.edu stated that the Rationale: Finance is the art of managing an organization's resources to bring. The financial statements of a nonprofit organization provide a useful overview. Define and explain the techniques for developing operating budgets. According to BNET Business Dictionary (5/24/2009), stated that an organization that does not have financial profit as a main strategic objective. Nonprofit organizations include charities, professional associations, labor unions, and religious, arts, community, research, and campaigning bodies. These organizations are not situated in either the public or private sectors, but in what has been called the third sector. Many have paid staff and working capital but, according to Peter Drucker, their fundamental purpose is not to provide a product or service, but to change people. They led by values rather than

financial commitments to shareholders. http://dictionary.bnet.com/definition/nonprofit+organization.html Non-Profit Organization
The above listed paragraphs defined and discussed budgets and finances as it relates to non-profits organization. I also define what a budget is. A budget is the financial plan that is your strategies to reach your objectives and goal for a business plan. The budget is a road map to helping you meet your financial goals We have just discussed non-profit organization and developing a budget plan is important to your business strategies. Next, I will discuss the logic to planning a budget. Now I will define what a budget is because this is the money plan that can determine how you achieve your programs objective and goals. The following definition will give you a better understanding of what a budget is. What is a budget?

According to Wikiepedia the free encyclopedia, (2009), A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more goods. In other terms, a budget is an organizational plan stated in monetary terms. http://en.wikipedia.org/wiki/Budget

According to Randal, Mark J. (2009), his definition of what a budget is it is a money plan. It can be use as a model to organize and control the financial resources to help you develop your strategize your goals. This will give you an ideal on how your

money works. This is a powerful tool to...
tracking img