Financial Management for Nonprofit Organizations : Policies and Practices

by Zietlow, John; Hankin, Jo Ann; Seidner, Alan G.

• ISBN13: 9780471741664
• ISBN10: 0471741663
• Edition: 1st
• Format: Hardcover
• Copyright: 2007-01-02
• Publisher: Wiley

Summary

Indispensable for all types and sizes of nonprofit organizations, this important book imparts a clear sense of the technical expertise and proficiency needed as a nonprofit financial officer and includes real-world case studies, checklists, tables, and sample policies to clarify and explain financial concepts.

Author Biography

Alan G. Seidner is the founder of Seidner & Company of Pasadena, California, an investment management and consulting firm with a roster of high-net-worth investors, healthcare organizations, major corporations, nonprofit institutions, and municipalities.

Table of Contents

About the Authors
Acknowledgments
Preface
Understanding Nonprofit Organization Finances
Definition of Nonprofit Organizations
Characteristics of Nonprofit Organizations
Understanding the Language of the Nonprofit Organization
Financial Policies
Financial Practices
Primary Financial Objective
Conclusion
Liquidity Management
Introduction
Donative Nonprofit Organizations
Evidence on Liquidity Management in the Nonprofit Sector
Facets of Liquidity Management
Importance of Liquidity Management
What Is the Appropriate Level of Liquidity?
Conclusion
Managing Mission and Strategy
Value of Strategic Planning
What Is Strategic Planning?
What Are theOrganization's
Mission, Vision, andGoals/Objectives?
Strategic Management Process
Implementing the Strategic Plan
Performance Management Systems
Strategic Planning Practices: What Does the Evidence Show?
Conclusion
Managing Structure, Accountability, and Ethics
Financial Tools and Support Structure
Organizational Structure and Governance
Accountability Structure
Ethics
Structure, Accountability, and Ethics in Practice
Conclusion
Developing Financial Policies
Introduction
Financial Policies
Putting Policies into Place
Establishing Procedures
Financial Policies and Procedures in Practice
Additional Resources
Understanding Accounting Basics and Financial Statements
Introduction
Accounting Basics
Three Financial Statements
The Audit and the Audit Committee
Financial Statement Users and Uses in Practice
Social Accounting
Additional Resources
Developing Financial Reports and Ratios
Introduction
Major Differences from For-Profit Business Reports
Objectives of Financial Reports
Reporting System Design
Major Reports
Internal Reports
External Reports
Conclusion
Developing Operating and Cash Budgets
Introduction
Overview of the Budgeting Process
Are Nonprofit Organizations Doing Their Budgeting Properly?
Developing and Improving Your Budgeting Process
Setting the Budgetary Amounts
Budget Technique Refinements
Cash Budget
Managing Off the Budget
Conclusion
Long-Range Financial Planning and Capital Budgeting
Introduction
Planning for the Future
Financial Evaluation of New and Existing Programs
Capital Budgeting: Financial Evaluation of Projects that Arise from Existing Programs
Financial Evaluation of Mergers, Joint Ventures, and Strategic Alliances
Financial Planning and Capital Budgeting in Practice
Conclusion
Managing Your Organization's Liabilities
Managing the Balance Sheet
Payables
Short-Term Borrowing
Strategic Financing Plan
Steps to Successful Borrowing
Matching Financial Sources to Strategic Objectives
Preparing the Financing Proposal
Making the Presentation
Other Factors in Borrowing/Lending Decisions
Municipal and Taxable Bonds
Leasing and Nontraditional Financing Sources
Developing a Debt and Hedging Policy
Liability Management in Practice
Conclusion
Cash Management and Banking Relations
Introduction
What Is Cash Management?
Collection Systems: Managing and Accelerating Receipt of Funds
Disbursements
Structuring a Funds Management System	p. 1
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