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Summary

Praise for Streetsmart Financial Basics for Nonprofit Managers, Third Edition"Tom McLaughlin is a proven master at making the daunting concepts of nonprofit financial management clear and engaging. This book is a superb introduction for new nonprofit executives, board members, and students. It is also an excellent refresher and reference for those of us who have been around the nonprofit sector for a while. It is well written, concise, and thought provoking." -J. Gregory Dees, Professor of the Practice of Social Entrepreneurship and Nonprofit Management at Duke University's Fuqua School of Business, and coauthor of Enterprising Nonprofits and Strategic Tools for Social Entrepreneurs"A very practical guide to understanding and managing the finances of a nonprofit organization. As nonprofits strive for greater accountability, Tom McLaughlin's real-world examples and accessible style make this book indispensable for nonprofit executives, managers, and board members at organizations of any size." -Gordon J. Campbell, President and CEO, United Way of New York City"Tom McLaughlin's powerful book is far more than a useful tool. It provides the philosophical approach to instill strong stewardship and future viability to those in the world of nonprofits. He takes apart the complex issues of nonprofit stewardship just as Einstein translated relativity into a simple equation. Purely masterful." -Jim Mellor, Senior VP, Chief Financial Officer, YMCA of the USA

Acknowledgments
Note to Reader
Analysis
Organizational Structure: Programs and Corporations
Types of Nonprofit Organizations
Structure of Nonprofit Organizations
Loss of Tax-Exempt Status-The Monster Within
Mission: Managing Your Two Bottom Lines
The Role of a Value System
The Nonprofit's Dilemma and How to Solve It
Accounting as a Second Language-A Nine-Point Program
The Entity Principle
Money Measurement
Conservatism Principle
The Cost Concept
The Materiality Principle
Going Concern
Dual Aspect
Realization Principle
Matching Principle
Assets Are for Boards, Activities Are for Managers
Concepts versus Details
Boards Invest, Managers Spend
If It Has to Be Decided Today, It's Probably the Wrong Question
Boards Own the Controls, Managers Implement Them
Balance Sheets: How They Get That Way
Current Assets
Noncurrent Assets
Current Liabilities
Noncurrent Liabilities
Making the Balance Sheet Dance
Transparency, Thy Name Is IRS Form 990
Sweeping Change
What to Do
Financial Analysis: A Few Diagnostic Tools
Financial Statement Analysis for Math Phobics
Current Ratio
Days' Cash
Days' Receivables
Cash Flow to Total Debt
Debt to Net Assets
Total Margin
Operating Margin
Accounting Age of Plant/Equipment (or Land, Buildings, and Equipment)
A Footnote
Accounting
Nonprofit Accounting: Acknowledging the Strings Attached
Net Asset Categories
Other Provisions
What It All Means
Cost Accounting: How Much Does It Cost?
A Form of Management Accounting
Indirect Costs
Certain Support Costs Get Assigned to Other Support Costs
Breakeven Analysis-Another Use for Cost Data
Cost Accounting versus Cost Reporting
Auditing: Choosing and Using an Auditor
Audit, Review, and Compilation
The Auditor Market
Getting Value from the Audit
Conclusion
Operations
Cash Flow Management: Why Cash Is King
Up the Balance Sheet
How Much Cash Is Enough?
Conclusion
Capital: Why Capital Is Not a Four-Letter Word
The Mechanics of Capital Financing
The Present Value of Money
Sources of Capital
The Great Divide among Nonprofits
Future Access to Capital Markets
The Role of Net Assets
Strategic Capital Management
Budgeting: Taming the Budget Beast
Playing Revenues Like a Symphony
Expenses
Indirect (General and Administrative) Costs
Conclusion
Indirect Costs and Other Despised Items
Still, It's Low That Counts
Secret of the Indirect Cost Game
Pricing: How Much Should It Cost?
Pricing Methodologies
Going the Other Way-Contractual Adjustments and Subsidies
Pricing Strategies
How to Price
Profit: Why and How Much?
Profit Defined
Uses of Profit
Profit-How to Get It
What Can Be Done
To Raise More Money, Think Cows
Donations
Bequests-Cow to Charity
Charitable Remainder Trusts-Milk to Beneficiaries, Cow to Charity
Pooled Income Funds-Donors Put Their Cows in a Herd, Keep Rights to Milk
Insurance: The Maddeningly Complicated Art of Covering Your Assets
To Insure or Self-Insure?
Risk Management
Internal Controls for External Goals
The Elements of Internal Control
How to Monitor the System
Maintaining the System
Conclusion
Enron Spawn
Some Predictions
The New Industry of Charity Watching
Management Controls: Toward Accountability for Performance
Management Controls Circa 1980
Beyond Management Controls in the Twenty-First Century: How to Do It
Messages
How to Prepare-The CFO of the Future
A Financial Management Cultural Primer
Budget Bloopers
Using the Web Site
Index
Table of Contents provided by Publisher. All Rights Reserved.

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