Whether your organization is just getting started or you’re ready to revamp your budget, a budget template can help in the following ways:
- It keeps you organized. Staring at a blank spreadsheet can feel intimidating – and it’s often the reason nonprofits procrastinate on putting together their budgets. A template provides the outline for you, so all you have to do is fill in the blanks. No starting from scratch!
- It points out areas you may have forgotten to include. When you’re just getting started – meaning you don’t yet have any revenue or expenses – it’s easy to leave something important out. Donorbox’s Nonprofit Budget Template provides line items that are commonly found on the budgets of most nonprofits. Will you organization need each one? Not necessarily! But having those listed can help spark your memory for any you need to alter, add, or remove.
- It’s easy to use. Oh, so you’re not an Excel wizard? Don’t worry – you aren’t alone. A well-designed budget template saves you the stress of creating a sheet from scratch. (And our Nonprofit Budget Template looks good, too!)
Once you download your budget template, you may be wondering – what next? Here’s how to use our template so you get the most out of it. Note that this budget template is perfect for a general operating budget, but you may need to make significant changes for a program or project-specific budget.
- Pull any existing financial documents. If you’re ready to create a new budget, you’ll still need to review the revenue and expenses for your previous fiscal year – we have columns for you to include that information for easy comparison on our budget template.
- Review the line items on the template. Is there anything you need to add? Remove? Alter? Be sure to expand any program expense categories to match your organization’s needs.
- Add your numbers from your last fiscal year. If this is your first year in operation, skip this step.
Use your accounting software. Pull last year’s numbers and project this year’s using your preferred accounting software. We have a list of the 10 best nonprofit accounting software solutions if you need help finding one! Get your team involved. Budgeting shouldn’t happen in a vacuum. Your team can help you understand what expenses might be coming up – and what opportunities for revenue you might be missing. Share your draft budget with stakeholders. Your board members should have a chance to review your budget so they can catch anything you may have missed and voice any concerns over your projected expenses. This is a great way to get them more involved in fundraising for your organization too! Learn more about board member fundraising in this blog.
For a more in-depth look at nonprofit budgeting, follow our ultimate guide. As always, consult a certified accountant for any questions you have about your organization’s specific revenue and expenses.
