In These Times
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Building a Budget That Tells Your Story
Jen Kelsch
Chief Financial Officer
GAR Foundation
For many nonprofits, budgeting can feel like a task you have to check off each year. But your budget can be so much more than that. It’s your chance to put your mission into numbers and show how you plan to bring it to life in the year ahead.
A Strategic Approach: Start by taking a step back and thinking strategically about what you want to accomplish. How does your plan connect to your mission? Invite your board into these early conversations so that everyone is part of shaping the priorities that guide your financial plan. Too often, organizations simply roll forward last year’s numbers, missing the opportunity to realign around new goals and ideas.
Telling Your Story Through Numbers: Your budget can also help drive your development plan. Think about the story your numbers tell. Are you including measurable goals, like the number of people you plan to serve or your progress toward paying staff a living wage? These details make your budget more meaningful and show impact beyond dollars and cents.
A Guide, Not a Rulebook: It is also important to remember that your budget is a guide, not a rulebook. New opportunities and challenges will come up, and your plan should have enough flexibility to adapt while staying true to your mission.
Exploring New Revenue Streams: If traditional funding sources are shrinking, consider new ways to generate revenue. For example, is there a small, mission-appropriate fee you could charge for a program or service? A little creativity can go a long way in strengthening your organization’s stability.
At the end of the day, your budget should tell the story of where your organization is headed and how you plan to get there. When your strategy, mission, and budget work together, you are not just managing your finances, you are leading with purpose.
Jen Kelsch joined GAR in 2009 as Chief Financial Officer. Her background in accounting, financial management, and assurance services led to her establishing her own accounting practice, JSK Solutions, Ltd., that focuses on supporting small to midsize not-for-profit organizations in 2007. She provides accounting and consulting services that tie financial operations to an organization’s strategic goals.
This content is the opinion of the author. GAR Foundation draws on a range of perspectives from our regional community to share insights on nonprofit capacity building. We understand that organizations are unique and require different strategies for success.
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