A nonprofit organization received a donation of $50,000 to fund a specific project The organization incurred the following expenses related to the project Personnel costs $20,000 Equipment costs $10,000 Supplies costs $5,000 Other project expenses $2,500 Calculate the organization 's remaining bala...

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A nonprofit organization received a donation of $50,000 to fund a specific project. The organization incurred the

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Question:

A nonprofit organization received a donation of $50,000 to fund a specific project. The organization incurred the following expenses related to the project:

Personnel costs: $20,000
Equipment costs: $10,000
Supplies costs: $5,000
Other project expenses: $2,500

Calculate the organization's remaining balance for the project and determine if the organization stayed within the budget for the project. Show all calculations.