By John Zietlow, Visit Amazon's Jo Ann Hankin Page, search results, Learn about Author Central, Jo Ann Hankin, , Alan G. Seidner
Integral for every type and sizes of nonprofit enterprises, this significant booklet imparts a transparent experience of the technical services and skillability wanted as a nonprofit monetary officer and comprises real-world case reviews, checklists, tables, and pattern guidelines to explain and clarify monetary techniques.
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Additional info for Financial Management for Nonprofit Organizations: Policies and Practices
Sample text
Based on the survey responses, and with the help of an expert advisory panel, each organization’s survey responses were scored based on the STFM sophistication portrayed in the answers provided. For each of the four categories listed, the “best in class” organization was visited in person, as was an “average-rated” organization. How and why CFOs followed specific approaches and used various financial management techniques was the focus of in-depth interviews and additional decision making and board evaluation questionnaires.
Material is presented in an easy-to-use format, including forms or checklists where helpful. The discussion goes beyond the buzzwords to provide reasonable steps toward more proficient treasury management. 1 DEFINITION OF NONPROFIT ORGANIZATIONS In the broadest terms, nonprofit is a designation given by the IRS to describe organizations that are allowed to make a profit but that are prohibited from distributing their profits or earnings to those in control of the organizations. If these organizations apply for and receive tax-exempt status from the IRS, they are not required to pay federal income taxes or state business income taxes except in specific cases, which are discussed later in this book.
Individual questions within the survey were differentially rated, based on appropriateness for the size and type of organizations studied. Most respondents had a fairly accurate idea of how effective their financial management process was, and the tabulated results indicate that sophistication (what the questionnaire was really measuring) had a strong correlation with perceived effectiveness (as measured by the respondent’s self-assessment). Is the Indicated Financial Objective Really Operational?