One of the most important strategy of ensuring the success of a child welfare center is to have a well-balanced budget. The agency will only meet its mandate when there is a balance between the money the agency is able to get from donors and what it will spend. Understanding the budget helps improve the operational efficiency of the organization (Devereux & Kapingidza, 2020). Additionally, a well-designed budget will inform the agency on whether there is capacity to bring more children on board. For the nonprofit organization, although there are many volunteers, a budget is necessary in helping the organization accomplish its goals. Furthermore, the budget will form the basis for raising money, making reports to the board of trustees and communicating what the organization does to the outside world (Glassdoor.com, 2019). This task seeks to design a budget plan for the children’s agency presented in the business plan.
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Write My Essay For MeOrganizational Budget Plan
Income Sources
External stakeholder donations $ 29,500
Contributions from board of trustees $ 28,000
Events and Honoraria (Run for a child initiative) $ 26,000
Organization’s dinner party $ 23,000
Major donor gifts $ 25,000
California state grant $ 29,000
Other income generating activities $ 13,300
Total Income $ 173,800
Expenses
Advertising for what the organization offers $ 4,000
Volunteer/ staff appreciation (token) $ 7,000
Dues and subscriptions to the relevant NGO bodies $ 2,500
Permanent staff insurance schemes $ 9,300
Children insurance $ 7,000
Food and Kitchen supply $ 15,000
Licenses and permits $ 2,500
Office supplies $ 10,000
Printing and reproduction $ 3,000
Repairs, upgrades and general maintenance $ 7,000
Consultancy charges $ 3,500
Staff Salary, FICA and Taxes
Social workers $ 10,000
Counselors $ 9,500
Financial manager $ 12,000
Accountant $ 11,000
Project manager $ 16,000
Executive director $ 16,500
Part-time advocate $ 6,000
Telephone and internet $ 4,500
Training and development $ 11,500
Utilities $ 3,000
Miscellaneous $ 4,000
Total Expenses $ 173,800
In establishing the budget plan, there are several considerations that had to be made. First, there are no rent charges in the first few years as the agency will be housed in one of the residential areas voluntarily given by one of the boards of trustee members (Zulu, 2018). Often, this could have resulted in remarkable figures in terms of expenses that the agency has to contend with (Gudeta, 2017). However, there are other fixed annual charges that cannot be evaded even when the rental charges are set aside. For instance, the cost of electricity, water bills and other standing charges have to be considered.
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Training and development are another important consideration that the agency will have to consider. Most of the volunteers will be from different backgrounds with either no or minimal experiences on child advocacy. It is thus important to consider considering them for training as well as financially appreciating them for their efforts (Savethe children.org.uk). This however should not be considered as salary as it is based on the availability of funds.
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Other than expenses, proper consideration has been made regarding the potential income for the company. As stated in the introduction, incomes will help determine whether the agency will comfortably attain its mandate or not (Dankyi, Mazzucato & Manuh, 2017). Several considerations have been made as sources of income for the agency. The main source of income will be from donors especially after several proposals have been sent out. Other stakeholders such as the board of trustees, friends and other people of good will are also projected to contribute a noteworthy amount (US Department of health). Since the expenses and incomes are balanced, the agency is in a good position to foster its activities.
References
Devereux, S., & Kapingidza, S. (2020). External donors and social protection in Africa: A case study of Zimbabwe. In From Colonialism to International Aid (pp. 273-302). Palgrave Macmillan, Cham.
Dankyi, E., Mazzucato, V., & Manuh, T. (2017). Reciprocity in global social protection: Providing care for migrants’ children. Oxford Development Studies, 45(1), 80-95. https://doi.org/10.1080/13600818.2015.1124078
Gudeta, K. (2017). Budgeting and budget performance evaluation (In case of save the children international-ethiopia country office (Doctoral dissertation, St. Mary’s University).
Glassdoor.com, (2019). Board of Directors Salaries. Retrieved from https://www.glassdoor.com/Salaries/board-of-directors-salary-SRCH_KO0,18.htm
Savethe children.org.uk, How do we pay our Staff. Retrieved from https://www.savethechildren.org.uk/about-us/accountability-and-transparency/how-we-pay-our-staff
US Department of health, Grants and funding. Retrieved from https://www.acf.hhs.gov/grants
Zulu, S. (2018). The use of monitoring and evaluation systems by Non-Governmental Organizations: A case study of Umthombo Street Children SA (Doctoral dissertation). Retrieved from http://ukzn-dspace.ukzn.ac.za/bitstream/handle/10413/18385/Zulu_Sphiwe_2018.pdf?sequence=1&isAllowed=y
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