Budgeting Considerations for Not-for-Profits

Overview

This video-based CPE course is included in the Not-for-Profit Certificate II Program. It can be purchased individually or as a part of the Not-for-Profit Certificate II - Governance and Assurance track.

Budgeting can be more than just an annual exercise of putting numbers in columns. It has the potential to establish benchmarks, measure the organization's financial health from one year to the next, and determine priorities. It is intended to be a planning tool that reflects a not-for-profit organization's programs, mission and strategic plan.

This CPE course offers you detail-rich examples and a case study that will help you turn budgeting into a positive planning process that can help your not-for-profit achieve its strategic goals and increase accountability in the budgeting process.

Included in the course resources is a downloadable budget worksheet template in Microsoft Excel, which you can customize for your organization.

Note: As of August 1, 2018, course content has been updated to reflect implementation of FASB Accounting Standards Updates (ASUs) effective for most not-for-profit entities for their next financial reporting period, including those related to financial statement presentation (ASU 2016-14) and revenue recognition (ASU 2014-09 and ASU 2018-08).

Highlights

Key Topics

• Recognize steps to build a realistic and controllable budget
• Differentiate between various types of revenue sources available to NFPs
• Determine the impact of revenues subject to donor-imposed restrictions on budgeting and cash flow
• Recognize common issues that arise during the budgeting process
• Determine ways to increase accountability in an NFP's budgeting process

Prerequisites

Intermediate

Objectives

Learning Outcomes

• Budgeting pitfalls
• Budget planning and consensus-building strategies
• Diversification of revenue streams
• Grants management
• Creating an operating reserve
• Cash flow concerns