Balancing Mission and Money: Budget Management Challenges and Best Practices in Nonprofit Organizations – A Case Study of the American Red Cross

Course Paper Requirements:

• Length: 10–12 full pages (excluding Title Page, Abstract, and References)
• Format: APA 7th Edition
• Sources: Minimum of 8 scholarly sources (academic journal articles, textbooks, government reports)
• Components:

1. Title Page (APA format)
2. Abstract (150–250 words)
3. Introduction
4. Literature Review Section
5. Main Analysis and Discussion
6. Budget Example (Real-World Analysis)
7. Conclusion
8. References

Topic Choices: 2. Nonprofit Budget Management: Challenges and Best Practices

• Conduct a literature review on nonprofit financial management and budgeting.
• Discuss challenges nonprofits face in balancing restricted and unrestricted funds.
• Analyze a nonprofit organization’s published budget to illustrate real-world practices.

Topic Selection

Selected Topic: Nonprofit Budget Management: Challenges and Best Practices

The reason why I decided to choose the topic Nonprofit Budget Management: Challenges and Best Practices is because I’m interested in opening my own nonprofit. A community-based organization relies primarily on financial strategies planning to provide services to the unserved citizens. Nonprofit usually operates under a very strict financial budget and require both restricted and unrestricted funds to be managed, which can be very challenging. I believe that to be successful I need to understand how nonprofit navigates these financial challenges while maintaining transparency and accountability. Any business faces many financial challenges but being educated and open to trying new strategies is essential to maintain the business running and avoid future financial problems. Finally, studying budgeting practices will help me gain practical insights into how nonprofits align resources with impact. .

I have a draft of my essay.