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To help you get started we’ve created a non-profit example business plan for the service industry.Our example focuses on an organization providing educational services to both consumers and businesses, but it will work as a framework regardless of your non-profit’s area of focus.
Most nonprofits collect data about the “inputs” — how many resources like staffing, purchases, machines, and number of offices were used to achieve the objectives.
They also collect information about the “outputs” — how many items were made and sold, reports prepared, patients seen, speeches given, and so forth.
When creating the marketing and development section, be mindful of the metrics used to describe activities and success.
Unlike most for-profit companies where success is measured in monetary terms, in a nonprofit, success is achieved if you have sufficient financial resources to carry out your mission and the mission’s objectives are accomplished.
There are several nuances in accounting rules between for-profit and nonprofits, which your accountant can help you with.
Be sure to use an accountant with nonprofit experience and other nonprofit clients.
The net assets section has three components capturing the nature of any donations classified as “unrestricted” (nonprofit can use funds for any purpose) “temporarily restricted” (funds are for a specific project, activity or time period) or “permanently restricted” (donated funds cannot be utilized by the nonprofit).
Here is a visual comparison of a for-profit balance sheet and a nonprofit statement of financial position: Second, since the purpose of a nonprofit is mission and not income, the for-profit income statement becomes the nonprofit statement of activities, and its bottom line is net assets rather than net profit or net income.
In the previous three installments, we looked at “4 Sections Every Business Plan Must Have (and Why They’re Important),” “Why You Need a Business Plan (and the Best Style for You),” and “When Is a Good Time to Review and Renew Your Business Plan?
” This month, we discuss creating a business plan for a nonprofit.