4 Saving Tips for Nonprofits

We can all agree that most nonprofit organizations are looking for ways to cut costs. And while sometimes that may mean significant cuts to your staff or mission, there are actually quite a few ways to save without having to make those drastic measures!

Money Saving Tips for Nonprofits

Here are 4 easy ways you can save by making just a few simple adjustments to your internal processes.

1. Set a Budget

One of the biggest ways to start saving money is to create a written budget – and stick to it! Using your fund accounting software, you can easily create a budget and update it to your exact needs. You might be surprised at where your money is actually going.

Not only can your accounting software help you budget, but it can also forecast and plan to give you better insight into your financial future.

2. Price Check Major Purchases

Big purchases are typically an investment, one that could cost you a significant amount of money in the future if something were to happen. Before you hand over the credit card or write a check, price check the item with at least three other vendors.

And don’t be afraid to ask for a discount. The worst they can say is no, right?

3. Save Payroll by Asking for Volunteers

While you need to have some full-time, or even part-time, staff to help run things day-to-day, call for volunteers when you’re having an event or fundraiser. A lot of people look for volunteering opportunities, especially if they are passionate about a cause like yours or are just wanting to give back to their community.

4. Bulk Postage Permit

Does your organization mail newsletters or send direct mail? If so, you should consider a nonprofit bulk postage permit. Visit your local post office to learn about cost-saving mail programs that are available to nonprofits.

Have More Questions About Nonprofit Saving and Finances?

Capital Business Solutions is a financial and fundraising solution provider for public-sector organizations. Learn more about fund accounting software and training services by filling out the form below to contact us or calling (888) 249-6008.