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The authors, both longtime financial trainers and consultants, observe,”We have seen the difference a financial leader can make in the health and impact of a nonprofit organization over time. Indeed the most dangerous thing a nonprofit executive can do is to put his or her head in the sand about money.”

In years when the organization is not undergoing strategic planning, budgeting is often the only formal vehicle for strategic thinking.

When it takes into account everyone’s input, the budget becomes a true reflection of the organizational goals and work plan.

Once approved, a good budget becomes the means for helping everyone own the financial progress of the organization.