Planning, Budgeting, and Forecasting for Nonprofits

The 2010 Fenton Forecast for Nonprofit Leadership and Effectiveness demonstrated that fiscal responsibility and credibility are the top objectives for Not-for-profit organizations in the post-recession economy. With dwindling endowments, now is a critical time to revamp and refocus efforts on accounting practices and transparent financial processes.

As nonprofits strive to meet donation objectives, strategies amongst them are changing. The article, “Non-Profit Leadership Trends for 2011,” outlines the latest trends organizations will be embracing in the coming months.

According to this not-for-profit leadership article, “With the continuing staff shortages many organizations are facing, new and useful solutions will begin to arise from the creation of technologies, applications, web-based solutions that will supplement services and augment support functions.”

Now more than ever, a nonprofit’s planning, budgeting, and forecasting must be accurate and readily adaptable to changing conditions. However, in many organizations, financial planning is still clouded by fragmented processes, including unreliable data and insufficient attention to risk and compliance issues.

To keep track of planning and financial management processes, we see more and more nonprofit organizations turning to Management Reporter. Management Reporter for Microsoft Dynamics ensures real-time accurate data directly from the source, making it the next-generation FRx for not-for-profit organizations.

• Get rapid results without IT help
• Build custom reports based on GL data
• Increase productivity with familiar tools
• Enhance collaboration and sharing
• Help safeguard financial data

The team at MIG provides powerful solutions that allow NFPs to automate processes while reducing costs. Contact us to find out how our technology can help your business grow and improve in this challenging economic environment.

MIG & Co. – A New York City based Microsoft Dynamics Gold Partner, with vast nonprofit/ not-for-profit experience.

Comment ( 1 )

  • Wendell Tincher

    Our district does an annual budget. We have reserve funds carried over for conventions. If the chief officer spends more than the budgeted amount on the convention, can he use the reserve funds without approval of the board?

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ERP professionals providing insight and advice for not for profit organizations.