RBW Strategy’s Favorite Budgeting Apps for Nonprofit Funding
Nonprofits are always asked to do more with less, which is why maintaining an accurate budget is critical. Luckily, there are many helpful (and free or cost-effective) apps to help you stay organized and optimize your nonprofit funding. These are a few of our favorite nonprofit budgeting apps!
#1: Clarity Money.
Think about all the subscriptions you might use in your personal life, like Netflix, Hulu, Spotify, etc. Chances are, there are probably some you aren’t using. This app identifies what subscription services your nonprofit is paying for, but not using. It continuously monitors your financial situation, and can even cancel subscriptions for you. It also looks to see if your organization is eligible for bill-related discounts, or credit cards that may be better suited for your needs.
This app is helpful when it comes to setting budget goals, and making sure you’re sticking to them within a given time frame. It uses a unique color coding feature to alert you when you’re close to overspending. Pennies also gives you the option to create unlimited budgets by month, week, etc. When you enter your expenses in the app, it will automatically adjust your allowances as you spend.
#3: The Birdy.
Data breaches have increased exponentially over the past few years, and have become even more prevalent since the pandemic started (since most people are working virtually. It seems scary to connect your nonprofit’s bank account to a financial tracker app, but The Birdy provides a safe way to do so. In a nutshell, this app allows you or other employees to provide indicators of money spent by sending an email, text or tweet. And you can use hashtags to separate spending by category!
This app is a must have for any organization, but especially for nonprofits. Submitting expense reports can be tedious, and it’s harder to streamline them if you don’t have an app to do it. Expensify automates the hard parts of submitting expense reports, and the interface is super easy to use. Employees can take pictures of their receipts for easy uploading, and reimbursement appears in the employee’s bank account within 24 hours. The app is priced on a pay-per-use basis, so the cost varies depending on the size of your organization. So if an employee doesn’t engage with the app for a month, it won’t charge you until you resume action on the app.
While this app is more focused on event planning, it’s definitely helpful in managing your event finances. Using the app can help you manage ticket sales and incorporate purchasing links on your website or Facebook page. Physical ticketing costs can take a good chunk out of your overall budget, so this one shouldn’t be overlooked.
We look forward to hearing how these apps help your nonprofit budgeting! If you need help with your nonprofit funding, RBW Strategy has you covered. We provide assistance in prospect research, grant writing, project management, and more. Contact us today, and visit our blog for additional resources on nonprofit funding and budgeting.