What does the Revenue section look like in a Nonprofit Budget?
Nonprofit revenue can be defined in 3 basic ways:
Carry-forward income -(dollars available beyond your annual fiscal year)
Your fiscal year is July 1 - June 30 but the Grant year is September 1 - August 31 -- There are two (2) months remaining in the Grant year after the close of your fiscal year June 30 - Those 2 months are July and August. You only had 10 months of grant revenue used, you still have remaining two (2) months - That remaining 2 months of revenue would be considered carry-forward into your new fiscal year.
Definition of Earned Income
Definition of Contributed Income