Every dollar counts in not-for-profit organizations. Therefore, unlike for-profits, nonprofits must maintain grant records, track donations, and track diverse funding sources. However, budgeting and forecasting using spreadsheets can be complex and time-consuming.
Budgeting software helps you streamline processes, provide accurate financial insights, and make informed decisions.
This guide explores the benefits of budgeting tools and rounds up the top 6 solutions that can fit nonprofits of all sizes.
Here are the 6 stand-out nonprofit budgeting software:
Martus Solutions is the top platform for centralizing data and providing a unified view of your organization's finances. You can model multiple scenarios and access up-to-date financial data to improve your planning and operational efficiency.
Ready to experience Excel-free software? Take a product demo now and see how our budgeting software can simplify your forecasting and reporting.
The right nonprofit budget software helps you save time and streamline your budget.
Check out the top advantages:
Want to enjoy these benefits and take your budgeting to the next level? Don’t miss out on our guide to future-proof your non-profit’s budget and create long-term, smart budgets.
When you want to streamline your budgeting for your nonprofit, you should prioritize software with the following essential features:
Choosing the best nonprofit budgeting software should depend on your organization's needs and budget.
Take the time to explore the 6 options we’ve discussed below and find the perfect fit to elevate your financial performance.
Budgeting Software | Best For | Ratings and Reviews | |
1 | Martus Solutions | Nonprofits of all sizes with a desire for comprehensive budgeting, forecasting, and reporting to control their finances and get detailed insights. |
G2: 5/5 Capterra: 4.6/5 |
2 | Aplos | Nonprofits and faith-based organizations that desire accounting tools specifically tailored to their needs. |
G2 4.7/5 TrustRadius: 8.7/10 |
3 | Freshbooks | Small organizations that need customized invoicing and facilitating online payments. |
G2: 4.5/5 TrustRadius: 8/10 |
4 | Limelight | Organizations are looking for an intuitive and cloud-based software. |
G2: 4.7/5 TrustRadius:4.5/5 |
5 | Workday Adaptive Planning | Nonprofits that are already using the Workday tools and want a tool that can integrate easily within the ecosystem. |
Gartner: 4.8/5 G2: 4.3/5 |
6 | Vena | Not-for-profits looking for budgeting software with diverse templates for financial planning and an Excel-like experience |
G2: 4.5 /5 TrustRadius: 4.5 /5 |
Let’s dive deeper into the details of these 6 budgeting software:
Our budgeting tool is an all-in-one, cloud-based solution to allow you to access data from anywhere.
Our tool includes all the budgeting tools you need to manage your nonprofit bookkeeping.
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Pricing: Starts at $6,000 per year for Essentials, with discounted pricing available for churches and nonprofits.
Take a quick demo tour to see how Martus Solutions might be the right choice for your organization.
Aplos is another cloud-based software designed to manage finances for nonprofit or faith-based organizations.
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Pricing: From $79, $99, to $229 per month.
Like Xero, FreshBooks is another cloud-based nonprofit accounting software. It is especially designed for invoicing, tracking expenses, and receiving online donations.
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Pricing: $168, $304, and $520 paid yearly.
Limelight is a budgeting solution designed with integrations and automation to help nonprofits budget faster without using spreadsheets.
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Pricing: Custom pricing
Like Vena, Workday Adaptive Planning combines an Excel-like interface with a cloud-based model to help you with your organization's financial planning.
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Pricing: Custom pricing
Vena has an Excel-like interface, allowing your team to adopt the budgeting tool and simplifying the process.
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Pricing: Custom pricing
Although we’ve rounded up the best budgeting software for nonprofits, you might still feel overwhelmed when choosing the right software.
You can pick the best fit by following these 4 steps.
Gather insights from stakeholders using the software to identify specific features that best suit your organization's needs. Also, get a list of nice additions.
Some features could be software that can handle large volumes of transactions and offer custom reports. You might also want a tool that integrates with your programs, like volunteer scheduling tools and donor management tools.
With a list of the features you’re looking for in a budgeting software, it’s time to research the available options in the market.
Check budget solutions that similar nonprofit organizations are using. Look for the reputation of the budgeting providers online and check the customer reviews to ensure the tool is reliable and offers customer satisfaction.
Once you’ve shortlisted your budgeting solutions, choose the ones that offer demos to get first-hand experience with your budgeting scenarios.
Pay attention to the product's ease of use, integration capabilities, and functionalities. Also, gather insights into how its features meet your organization's needs.
After you try a few software demos, you should compare the pricing of the chosen nonprofit financial management software with available options in the market.
Remember other recurring costs of adopting the new tool, such as training and support costs, maintenance, and upgrades.
Remember that a nonprofit organization operates on a limited budget, so it’s essential to consider the total cost of owning your budgeting tool.
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After selecting your budgeting solution, the next step is to develop practical steps for using it effectively.
Let’s look at the top 4 essential tips:
Find quick answers to the common questions we get about the best budgeting software for nonprofits.
The typical annual cost for budgeting software is between $6,000 and $12,400.
You can ensure data security with your budgeting software by choosing the right tool for encryption, authentication, backup, audit, and compliance.
Absolutely!
Martus Solutions software supports multi-year forecasting and budgeting, helping you anticipate and plan for future outcomes and make informed decisions.
Remember, the right budgeting solution will set your nonprofit up for financial success, draw you closer to your mission, and allow you to worry less about managing numbers.
Pick a software that fits your organization's needs, provides accurate forecasts, and helps shape your financial future.
You should opt for Martus Solutions, the best budgeting and planning software for centralizing data and collaborating seamlessly with your team. This software allows you to test different what-if scenarios and explore different outcomes.
Book a demo today to see how to save time with automation and make data-driven decisions.