Financial Plan for Nonprofit Organization
A financial plan, like other businesses is an essential tool for non-profit organizations. While a business plan is focused on the services that the company provides the client, a charity's financial plan should focus on the cash flow. It should contain the kinds of revenue sources and projected amounts for each. It should also include the cost of recurring expenses, one-time expenses for a special event, and any capital or ongoing expenditures. Finally, it should identify any contingency plans the nonprofit has in the event that primary market opportunities fall through. The budget is usually an employee's job, but it is usually reviewed by board members and approved...