Episode 129: Why nonprofits need budgeting AND forecasting: and what’s the difference
Description
Every nonprofit builds a budget. But only the most effective leaders use forecasts to steer their organizations forward. In this episode, A Modern Nonprofit Podcast host Tosha Anderson is joined by David Steffens, CPA to break down the difference between budgeting and forecasting—and why both are critical for financial health and sustainability.
They discuss:
What a budget really is (and isn’t)
How forecasts go beyond “what happened” to show “what’s next”
Common mistakes in budgeting and how to fix them
How to build a basic forecast, even with limited resources
Why forecasting prevents financial surprises (and panic)
If you’ve ever looked at your budget and thought, “This isn’t telling me what I need to know,” this episode is for you.
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