Each year not-for-profit organizations establish an annual budget. In most instances, budgeted expenses are closely tied to budgeted revenues – in other words, what comes in goes out, in the form of services to your members, donors and/or stakeholders. Any excess of revenue over expense on a yearly basis is considered operating surplus. The amount of that surplus varies widely from organization to organization.
Canadian Society of Association Executives
- Non profit organizations
- Financial management
- Board governance