Streetsmart Financial Basics for Nonprofit Managers, 2nd Edition

by Thomas A. McLaughlin (BDO Seidmon LLP)

• ISBN13: 9780471421108
• ISBN10: 0471421103
• Format: eBook
• Copyright: 2002-10-01
• Publisher: Wiley

Summary

Essential, accessible guidelines for interpreting and using financial information"A wonderful resource for nonprofit managers and board members alike. It hits the mark by simplifying accounting concepts and providing practical advice that can help nonprofits achieve a higher degree of accountability." -Paula Van Ness, President and CEO, Make-A-Wish Foundationreg; of America"After thirty-three years of managing in the nonprofit sector, I find I could have used the information in Streetsmart when I first began my career. The book is a must-read for anyone interested in the effective management of nonprofit organizations." -George W. Kessinger, President and CEO, Goodwill Industries International, Inc."The first edition of McLaughlin's book was a masterpiece-clearly written, concise, and insightful. These traits also characterize the Second Edition. This is an excellent text for students and also a reference that every nonprofit professional should have on their bookshelf." -Norman A. Dolch, PhD, Director of the Nonprofit Programs and Professor of Sociology Louisiana State University in Shreveport"Tom McLaughlin contributes a valuable tool to those working for the betterment of society in the nonprofit fields: an important, highly readable, intelligent review of those issues which determine success and failure. All too often, well-meaning nonprofit managers find their organizations in constant crisis due to their mission-focus and mission-drive to the detriment of sound financial management. Streetsmart Financial Basics is a fast way of balancing management skills short of returning for an MBA." -Jeffrey R. Solomon, PhD, President, The Andrea and Charles Bronfman PhilanthropiesThe Second Edition of this popular resource explains in plain English how to read, interpret, and implement financial data from bookkeepers and accountants to make management decisions that ensure an organization's long-term financial viability. Organized into four distinct parts-Analysis, Accounting, Operations, and Control-this book offers a host of hands-on resources for managers, including: A CD-ROM containing spreadsheet templates for financial reports, word-processing checklists, sample documents, and real-world examples of management in action Dozens of easy-to-read charts, tables, checklists, and instructive sidebars Inserted text boxes highlighting supplemental information Special comments in the narrative linking the material to personal financial management matters

Author Biography

Thomas A. McLaughlin has over twenty-five years of nonprofit experience as a nonprofit manager, trade association executive, and consultant. He is a nonprofit management consultant with Grant Thornton, LLP in Boston

Table of Contents

PART ONE: ANALYSIS.

Organizational Structure: Programs and Corporations.

Mission: Managing Your Two Bottom Lines.

Accounting as a Second Languag - a Nine Point Program.

Balance Sheets: How They Get That Way.

Financial Analysis: A Few Diagnostic Tools.

PART TWO: ACCOUNTING.

Nonprofit Accounting: Acknowledging the Strings Attached.

Cost Accounting: How Much Does It Cost?

Auditing: Choosing and Using an Auditor.

PART THREE: OPERATIONS.

Cash Flow Management: Why Cash Is King.

Capital: Why Capital Is Not a Four-Letter Word.

Budgeting: Taming the Budget Beast.

Indirect Costs and Other Despised Items.

Pricing: How Much Should It Costs?

Profit: Why and How Much?

PART FOUR: CONTROL.

Internal Controls for External Goals.

To Raise More Money, Think Cows.

Title to Come.

Management Controls: Toward Accountability for Performance.

Appendix: Using the Disk.

Index.