Although you are not trying to make a profit, a financial plan is a crucial part of your business plan since you need to make sure you have enough capital to fund your expenses.
Delineate your different sources of funding. Explain any existing loans or other debts. Present your future Cash Flow Statements, Balance Sheets, and Income Statements. Describe your fundraising plans and identify gaps in your funding. Provide a clear explanation of how funds will be distributed among your various projects. Disclose any salaries that are drawn by members of the organization.
If you are a startup NPO, don’t forgot about any of the following costs:
- Registering the NPO
- Permits and licenses
- Accounting and legal services
- Marketing promotion expenses
- Insurance costs
- Rent and utilities
- Employee salaries
- Furniture and technology (computers, printers, etc.)
- Building and hosting a website