5 Tips for Creating Your Nonprofit's First Budget

Create your nonprofit’s first budget. A budget is a must-have tool if you want to raise money for your nonprofit. The problem is, most new nonprofit founders don’t know where to start or what should go in their budgets. First off, there is no perfect model. Your budget needs to match YOUR priorities, not other organization’s. So here are 5 pointers to consider when creating your first official budget:
00:00 Introduction
03:17 Start with your goals
05:05 Use the same set of budget categories
06:54 Use the budget categories line by line to get true costs
09:21 Start with staffing
10:50 Budget by month
Here is the budgeting masterclass I mentioned in the video. It includes 2 templates you can use to create your own budget. Make sure you take lots of notes. This is one you’ll need to watch over and over again and you can work alongside the video when creating your own budget: rebrand.ly/budgetreplay
Need help understanding budget categories? Below are examples of categories that might be in your expense budget:
Rent
Utilities
Office Expenses
Transportation
Meals and Expenses
Independent contractors
-The budgeting masterclass has templates that include an example list of categories.
**Consult an accountant for the best list of expenses and revenue that work for your nonprofit
If you need help forming your nonprofit idea, The Before You Start Workbook/Nonprofit Business Bundle is here: rebrand.ly/nonprofitbundle
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[@HelloooThere]

Great tips!
I love the idea of breaking down the fundraising goal by quarter! Super helpful!

[@adamgladfelter8762]

With a multifaceted funding strategy, this was an AWESOME help.... I'm 3.5 years in Dev. And acquiring materials/equipment and am 80% at opening a mens DV inpatient. I have my part, but formulating a modern presentation, and taking my stacks of info into a computerized form has been daunting. One board member(Gary) was a retired computer engineer, hes just passed. Another, a former grant writer, stricken with 3rd round if cancer. Everyone I've personally presented too has said 'just show em what you have!' And they just dont understand... this could be such a great thing for sooo many people and the adversity it's been, fighting to inch forward has almost got me. I have hundreds invested in tools, bins of office material,and curriculums, SROI reports, and bylaw templates and just all but the place and the bus. And that board member Gary, we've been roomies for nearly 10 years now. He helped me in those situations and Hes become like family but hes gone. And now I have to move unexpectedly and no where to go and no savings it's all into this. and feel I'm about to loose everything I've fought for. Yet the relationship that Gary helped ME foster with MY children and what this program is designed to foster, I have a relationship w two teens most parents could only dream of. So personally I won. It's not about me it's about all the children and families and generations whose lives this could change and the example I know I'm showing others... it's so hard to fluently convey these complexities this way. Who does a person talk to when their this close and only need to really get IN a place. Both personal AND NFP.... Thanks for your advice to anyone willing.
[e-mail]

[@adamgladfelter8762]

FingerLakes/Southern Tier NY

[@FatTire01]

Did you start this?

[@HomeownerPrep]

Excellent video, thank you for breaking this down. It's so overwhelming to think of doing the first budget with so many unknowns. Appreciate the insight!

[@rufusjones6345]

Would love to sign up for your masterclass

[@BossonaBudget]

Here’s the link: rebrand.ly/budgetreplay

[@lynnettemitchell7369]

For form 1023 part VI, can you explain projections for new nonprofit applying for 501C3, right away with no history.

[@victoryoutreachdowney1234]

is there a specific expense category list for 501c3?