Nonprofits should have an operating budget, a capital budget, and a cash budget.

Operating Budget

An operating budget consists of all revenues and expenses over a specific period of time (usually fiscal year) that an organization expects to incur to carry out its planned activities.

Capital Budget

Capital Budget constitutes the planning and allocation of funds for significant long-term investments or expenditures that a company or organization undertakes to grow or maintain its business operations.

Cash Budget

A financial plan that estimates the income and expenditures of an entity over a specific period, often used to assess its liquidity and funding needs.