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

Blackbaud

Calculate Your Indirect Cost Rate Complete and correct cost allocation is key to the financial stability of your organization. If you aren’t including indirect costs—such as salaries or rent—into your funding requests or program planning, you are setting yourself up for stress later in the year.

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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. Don’t Settle for Commercial Accounting Software On the surface, unrestricted funds are easier to manage than restricted funds. Multi-Year Tracking Programs don’t stop when your fiscal year ends.

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The Nonprofit Administration Dilemma: How Much Should You Spend on Fundraising?

Get Fully Funded

These are also known as indirect costs, expenses that cannot be tied directly to programs. Costs related to specific fundraising campaigns like printing and postage. Costs of creating and distributing print collateral like paying a graphic designer or mailing materials. Expenses related to events. Fundraising training.

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Finding Funding for Research

Peak Proposals

It means realizing that if you are doing data collection in the field, you may need to budget for the purchase of some kind of transportation for field staff, including associated costs like fuel and insurance. NICRA covers indirect costs (facilities and administrative costs) and fringe benefit expenses.

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