Developing a realistic budget

Almost all nonprofits face the challenge of developing a realistic budget while not knowing which grants and donations can be counted on from year to year.

To deal with these unknowns, nonprofits must make assumptions, make all stakeholders aware of those assumptions and develop different scenarios based on which funding streams actually perform, says this article from the Nonprofits Assistance Fund.

By having contingency plans in place, organizations will have a better chance of performing well both during flush times and dry spells.

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