Last modified: 2013-06-21
To allow nonprofit organization effectively carry out its major purpose for which it was founded, it is a necessary to correctly set a financial management of the whole organization. The basic tool of financial management is its budget. Appropriately selected and properly assembled type of budget shows the organization whether it has enough financial resources for upcoming projects. The budget also reveals the current financial management shortcomings by deviation of the desired state from the actual one and thus it allows full management of the organization and it permits presentation of its activities to internal and external users.