Financial Management for Nonprofits

Financial management for nonprofits involves planning, organizing, and controlling financial resources to achieve the organization's mission. It includes budgeting, tracking income and expenses, managing donations, and ensuring sustainability. Nonprofits must adhere to regulations and transparency, as stakeholders want to know how funds are used. Effective financial management helps nonprofits make informed decisions, allocate resources efficiently, and demonstrate accountability to donors and the community. Ultimately, it supports the organization's goals while fostering trust and credibility.