Can Nonprofits Save Money And Save The Environment, Too? You Bet!
Being energy efficient and reducing your nonprofit organization's carbon footprint not only has a positive effect on the environment, it will also reduce your costs. Investing in simple initiatives such as energy-efficient lighting can bring long-term savings.
Contain Costs and Maximize Cashflow
Let's face it. These are difficult financial times. Now's the time to be hyper-vigilant about managing both expenses and cashflow. Here are just a few ideas:
- Seek discounts from current vendors
- Explore bartering arrangements with other nonprofits/NGOs
- Negotiate payment schedules
- Accelerate your collections on receivables
- Limit or eliminate travel
We've compiled a list of both traditional and not-so-traditional ways to limit and manage cost and cash. Get links to those resources here.
A Budget Primer
Need a basic budget primer to share with new staff or Board members? Check out this recent white paper from Bridget Hartnett, CPA, Senior Manager, Sobel & Co. Nonprofit and Social Services Group.
It covers the following areas:
- Defining “Budget”
- The Role of a Budget in the Nonprofit Sector
- The Budget Process
- Sample Budgets and Worksheets
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