Financial Essentials for Nonprofit Managers
Field of Study:
Managers of nonprofit organizations (NPOs) generally are not skilled in financial matters. Or, managers are often
preoccupied with its welfare objectives and fund raising and ignore the operations efficiency and operating cost
controls. A series of appropriate questions that nonprofit financial managers must address in connection with an
organizationís financial condition and activity include:
1. Do we have a profit or a loss?
2. Do we have sufficient reserves?
3. Are we liquid?
4. Do we have strong internal controls?
5. Are we operating efficiently?
6. Are we meeting our budget?
7. Are our programs valid?
8. Are we competing successfully?
9. Is our prioritizing of programs and activities reasonable?
The course is an attempt to help answer these questions.
Program content and Learning objectives:
After completing this course you will be able to:
- Recognize financing options available to nonprofit organizations.
- Recognize costs that are relevant to nonprofit decision making.
- Recognize GASB rules for nonprofit financial statements.
- Differentiate among the methods to analyze financial statements.
- Identify between the various types of budgets.
- Recognize characteristics of different budgets and how to measure their effectiveness.
- Identify the characteristics and the time considerations of program budgeting process.
- Identify how cost behavior and variance analysis can assist with the budgeting process.
- Recognize use of mission centers and service centers for nonprofit organizations.
- Identify the role of the contribution approach to cost allocation for measuring performance of responsibility centers.
- Recognize how cost allocations can affect performance metrics for managerial control.
- Calculate the cost of long-term debt financing.
- Identify different financial instruments available for investing surplus funds.
- Recognize the purpose for allocating service center costs to mission centers.
- Identify different types of investment instruments and financial models.
Type of Delivery Method:
Recommended CPE Credits:
Final examination expiration date:
The program participant will have one year from the date of purchase to complete the course and final examination.
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Complaint resolution policy:
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