Remove Finance Remove Indirect Cost Remove Utilities
article thumbnail

3 Strategies to Build Your Organization’s Financial Capacity

Blackbaud

Develop a more accurate overall budget In collaboration with your organization’s finance committee, create a more accurate overall budget by using project or program-based budgets. Calculating indirect costs can be challenging.

Finance 118
article thumbnail

Crafting Opportunities: Exploring the Grant Writing Process

Allied Grant Writers

Utilize online databases and grant directories to broaden the search. Budget A detailed account of the financial resources needed, including direct and indirect costs. To delve deeper into managing finances related to your proposal, explore our article on budgeting for grants.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

7 Ways Your Nonprofit Can Build a Strong Financial Foundation in 2024

Blackbaud

From creating a financial cushion to clearly managing your financial reporting, your finance team can create a strong foundation to help you weather whatever the new year has in store. Tip 2: Bring both your program and finance teams into the grant application and award process.

article thumbnail

Your Unrestricted Funds Need Stewardship, Too

Blackbaud

Many don’t cover operating costs or have a small allotment for indirect costs such as salaries, insurance, and utilities. These can be used to pay operating costs such as rent, utilities, and salaries. They can also be used for program-specific costs.

Funding 111
article thumbnail

The Essential Guide to Nonprofit Budgets in 2024

Grant Writing Made Easy

Adaptation to Technological Advances: With the rapid integration of technology such as AI in financial management, nonprofits must quickly adapt to utilize these tools effectively, which can be a barrier for organizations with limited tech expertise or resources. Fixed Costs: Regular expenses like rent, utilities, and salaries.

Budget 52
article thumbnail

Finding Funding for Research

Peak Proposals

Overhead covers general operating expenses like rent, utilities, and administrative expenses. If your institution requires proposal budgets to include a minimum overhead rate of 20%, it should not allow you to submit a grant application to a funder that has a 10% cap on overhead costs. Understand the implications of overhead rates.

Funding 52