INCLUDING IN-KIND CONTRIBUTIONS
Another consideration in budget preparation involves in-kind contributions. In-kind contributions are goods and services—something other than money—donated to an agency. For many nonprofit agencies, in-kind contributions represent a significant and valuable portion of their budgets. Accordingly, to overlook in-kind contributions when preparing a program or project budget would be a huge oversight. If these are not included, the budget does not accurately reflect the true program costs. Without these in-kind contributions, the agency would have to pay for these goods and services. It is beneficial for a nonprofit agency to secure in-kind contributions whenever possible. First, doing so means that your agency ...