Financial Management in Non-Profit Organizations

Abstract

The purpose of this project is to illustrate the financial challenges that non-profit organizations face. These issues requires CEOs, grant committees, program managers and upper management to focus its efforts towards overcoming each challenge. Non-profits face challenges in finding appropriate funding, applying for grants and budgeting funds on a grant cycle basis. It is important for non-profits to work towards financial sustainability because funders utilize that as a tool of measuring an organization’s success. Non-profits are able to overcome these challenges by diversifying its funding resources, seeking grant consultant assistance and creating an accessible budget for the organization.