Financial management of non-profit organizations

For the activities of non-profit organizations (NPOs), the topic of management is very important, since NPOs mainly perform a social role that does not set itself the task of making a profit and therefore is often limited in resources. The recent financial crisis has led to such a drastic reduction in donor funding, which creates serious financial problems for many NPOs. Financial management is crucial for the economic sustainability of NPOs. However, it is believed that financial management is one of the most difficult areas that managers have to face. The main objective of the article is to highlight the important points and financial management tools that are easy to use for financial management in non-profit organizations.