The issue of equitable budgeting has gained significant momentum in the ever-evolving landscape of non-profit organizations. Recently, the Nigeria Network of NGOs (NNNGO) organized a training session facilitated by guest speaker, Joshua Alade, Executive Director of Network of Youth for Sustainable Initiative (NGYouthSDGs). The session shed light on the critical role equitable budgeting plays in building sustainable organizations.
Let us explore the takeaways from the discussion:
Staff Well-being: Prioritizing staff well-being is crucial for the success of any project. However, convincing funders to allocate resources for staff needs can be challenging. Despite this, it is important to remember that happy and motivated staff members are a critical tool in achieving successful project outcomes. Therefore, budgeting for staff well-being should be given due importance.
Equitable budgeting: In the civic space, equitable budgeting is a necessity. There is a critical need for an equal distribution of funds across regions and staff members. Joshua provided practical examples of how to achieve this equal distribution.
Direct and Indirect Costs: The concept of direct and indirect costs is fundamental in the budgeting process. Organizations must account for direct and indirect costs in the budgeting process. This will ensure that necessary costs are covered, allowing for the successful execution of projects.
Building donor/funder relationship: When it comes to fundraising, it is crucial to identify donors who share the same values and goals as your organization. This understanding will help you build strong relationships with donors or funders even before submitting a project proposal. By cultivating these relationships beforehand, you will increase your chances of creating a successful and mutually beneficial partnership.
Competitive grant funding: Demonstrating your commitment to your staff’s well-being during your grant application can set you apart in the competitive sphere of grant funding. This shows your dedication to building a healthy, sustainable organization.
As the non-profit landscape continues to evolve, this discussion reminds us of the critical role budgeting plays in building a sustainable organization. By prioritizing staff well-being, considering equitable budgeting, and nurturing relationships with donors who share our vision, we can pave the way for a more equitable and impactful future for non-profit organizations.
Would you like to access the recording for the training? Click here
