Financial Management for Nonprofit Organizations, Third Edition, Policies and Practices by Zietlow, John -- Read -- Imperial Library of Trantor

Index

COVER TITLE PAGE TABLE OF CONTENTS ABOUT THE AUTHORS PREFACE ACKNOWLEDGMENTS CHAPTER 1: UNDERSTANDING NONPROFIT ORGANIZATION FINANCES

1.1 THE IMPACT OF THE GREAT RECESSION 1.2 DEFINITION OF NONPROFIT ORGANIZATIONS 1.3 CHARACTERISTICS OF NONPROFIT ORGANIZATIONS 1.4 UNDERSTANDING THE LANGUAGE OF THE NONPROFIT ORGANIZATION 1.5 FINANCIAL POLICIES 1.6 FINANCIAL PRACTICES 1.7 PRIMARY FINANCIAL OBJECTIVE 1.8 CONCLUSION NOTES APPENDIX 1A: THE LILLY STUDY FINDINGS

THE LILLY STUDY MANAGEMENT AND FINANCIAL OBJECTIVES ON-SITE INTERVIEWS, QUESTIONNAIRES, AND ARCHIVAL STUDIES THE APPROPRIATE LIQUIDITY TARGET MODEL NOTE

CHAPTER 2: LIQUIDITY MANAGEMENT

2.1 INTRODUCTION 2.2 NONCOMMERCIAL NONPROFIT ORGANIZATIONS 2.3 EVIDENCE ON LIQUIDITY MANAGEMENT IN THE NONPROFIT SECTOR 2.4 FACETS OF LIQUIDITY MANAGEMENT 2.5 IMPORTANCE OF LIQUIDITY MANAGEMENT 2.6 WHAT IS THE APPROPRIATE LEVEL OF LIQUIDITY? 2.7 CONCLUSION NOTES

CHAPTER 3: MANAGING MISSION, STRATEGY, AND FINANCIAL LEADERSHIP

3.1 VALUE OF STRATEGIC PLANNING 3.2 WHAT IS STRATEGIC PLANNING? 3.3 WHAT ARE THE ORGANIZATION'S MISSION, VISION, AND GOALS/OBJECTIVES? 3.4 STRATEGIC MANAGEMENT PROCESS 3.5 IMPLEMENTING THE STRATEGIC PLAN 3.6 PERFORMANCE MANAGEMENT SYSTEMS 3.7 STRATEGIC PLANNING PRACTICES: WHAT DOES THE EVIDENCE SHOW? 3.8 CONCLUSION NOTES

CHAPTER 4: MANAGING STRUCTURE, ACCOUNTABILITY, AND ETHICS

4.1 FINANCIAL TOOLS AND SUPPORT STRUCTURE 4.2 ORGANIZATIONAL STRUCTURE AND GOVERNANCE 4.3 ACCOUNTABILITY STRUCTURE 4.4 ETHICS 4.5 STRUCTURE, ACCOUNTABILITY, AND ETHICS IN PRACTICE 4.6 NEW FORMS 4.7 CONCLUSION NOTES APPENDIX 4A: BY-LAWS OF THE ABC EDUCATIONAL FOUNDATION – A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION

ARTICLE I. NAME ARTICLE II. OFFICES ARTICLE III. PURPOSES AND POWERS ARTICLE IV. MEMBERSHIP CORPORATION ARTICLE V. TRUSTEES ARTICLE VI. STANDING BOARDS OF THE FOUNDATION ARTICLE VII. OFFICERS ARTICLE VIII. PROCEDURES ARTICLE IX: MISCELLANEOUS ARTICLE X. AMENDMENTS TO BY-LAWS NOTES

APPENDIX 4B: SUMMARY OF TRUSTEE RESPONSIBILITIES AND QUALIFICATIONS

BOARD OF TRUSTEES BOARD CHAIR EXECUTIVE DIRECTOR/CHIEF EXECUTIVE OFFICER TREASURER/CHIEF FINANCIAL OFFICER SECRETARY NOMINATING COMMITTEE FINANCE COMMITTEE VOLUNTEERS

APPENDIX 4C: RECOMMENDED GOVERNANCE AND ETHICS RESOURCES

CHAPTER 5: DEVELOPING FINANCIAL POLICIES

5.1 INTRODUCTION 5.2 FINANCIAL POLICIES 5.3 PUTTING POLICIES INTO PLACE 5.4 ESTABLISHING PROCEDURES 5.5 FINANCIAL POLICIES AND PROCEDURES IN PRACTICE 5.6 ADDITIONAL RESOURCES NOTES APPENDIX 5A: NONPROFIT FINANCIAL POLICY EXAMPLES ON THE INTERNET APPENDIX 5B: GOOD, BETTER, AND BEST MEASURES OF TARGET LIQUIDITY

CHAPTER 6: UNDERSTANDING FINANCIAL ACCOUNTING BASICS AND FINANCIAL STATEMENTS

6.1 INTRODUCTION 6.2 FINANCIAL STATEMENT USERS AND USES 6.3 ACCOUNTING BASICS 6.4 THREE FINANCIAL STATEMENTS 6.5 THE AUDIT AND THE AUDIT COMMITTEE 6.6 FINANCIAL STATEMENT USERS AND USES IN PRACTICE 6.7 SOCIAL ACCOUNTING 6.8 ADDITIONAL RESOURCES NOTES APPENDIX 6A: REVISED FINANCIAL STATEMENT FORMAT – ACCOUNTING STANDARDS UPDATE 2016-14

REASON FOR AND SUMMARY OF STATEMENT PRESENTATION CHANGES COMPARING THE NEW FORMAT TO THE OLD FORMAT ILLUSTRATING THE NEW FORMAT FOR STATEMENT OF ACTIVITIES, STATEMENT OF CASH FLOWS, LIQUIDITY AND AVAILABILITY DISCLOSURE INTERPRETATIONS AND IMPLICATIONS NOTES

CHAPTER 7: DEVELOPING FINANCIAL REPORTS AND RATIOS: MAKING SENSE OF THE NUMBERS

7.1 INTRODUCTION 7.2 MAJOR DIFFERENCES FROM FOR-PROFIT BUSINESS REPORTS 7.3 OBJECTIVES OF FINANCIAL REPORTS 7.4 REPORTING SYSTEM DESIGN 7.5 MAJOR REPORTS 7.6 INTERNAL REPORTS 7.7 EXTERNAL REPORTS 7.8 CONCLUSION NOTES APPENDIX 7A: EXAMPLE FINANCIAL RATIO CALCULATIONS APPENDIX 7B: ADDITIONAL FINANCIAL RATIOS

7B.1 BUSINESS LIQUIDITY, FUNDING, AND OPERATING RATIOS 7B.2 OTHER RATIOS USED BY CHARITY RATING SERVICES 7B.3 STATEMENT OF CASH FLOWS RATIOS 7B.4 RATIOS WITH COMPARATIVE BENCHMARK DATA AVAILABLE (BASED ON FORM 990) 7B.5 COMPARATIVE BENCHMARK DATA FOR FAITH-BASED ORGANIZATIONS (BASED ON SA AND SFP)

APPENDIX 7C: CREDIT RATING AGENCIES AND DOE RATIOS

WEBSITES FOR CREDIT RATING AGENCIES

CHAPTER 8: DEVELOPING OPERATING AND CASH BUDGETS

8.1 INTRODUCTION 8.2 OVERVIEW OF THE BUDGETING PROCESS 8.3 ARE NONPROFIT ORGANIZATIONS DOING THEIR BUDGETING PROPERLY? 8.4 DEVELOPING AND IMPROVING YOUR BUDGETING PROCESS 8.5 SETTING THE BUDGETARY AMOUNTS 8.6 BUDGET TECHNIQUE REFINEMENTS 8.7 CASH BUDGET 8.8 MANAGING OFF THE BUDGET 8.9 CONCLUSION NOTES APPENDIX 8A: CASE STUDY: THE CASH CRISIS AT THE CHILDREN'S TREATMENT CENTER

THE HONOLULU CHILDREN'S TREATMENT CENTER SOURCES OF REVENUES EXPENSES THE BANK LOAN QUESTIONS

APPENDIX 8B: CASE STUDY: TRI-CITY ACADEMY

CASH BUDGET CASH BUDGET

CHAPTER 9: LONG-RANGE FINANCIAL PLANNING AND CAPITAL BUDGETING

9.1 INTRODUCTION 9.2 PLANNING FOR THE FUTURE 9.3 FINANCIAL EVALUATION OF NEW AND EXISTING PROGRAMS 9.4 CAPITAL BUDGETING: FINANCIAL EVALUATION OF PROJECTS THAT ARISE FROM EXISTING PROGRAMS 9.5 FINANCIAL EVALUATION OF MERGERS, JOINT VENTURES, AND STRATEGIC ALLIANCES 9.6 FINANCIAL PLANNING AND CAPITAL BUDGETING IN PRACTICE 9.7 CONCLUSION NOTES APPENDIX 9A: CASE STUDY: KIAWAH ISLAND COMMUNITY ASSOCIATION APPENDIX 9B: EVALUATING SOCIAL ENTERPRISES

FRAMEWORK INTERPRETATION AND IMPLEMENTATION CAVEATS NOTES

CHAPTER 10: MANAGING YOUR ORGANIZATION'S LIABILITIES

10.1 MANAGING THE BALANCE SHEET 10.2 BALANCE SHEET MANAGEMENT: BENEFITS AND STEPS 10.3 PAYABLES 10.4 SHORT-TERM BORROWING 10.5 STRATEGIC FINANCING PLAN 10.6 STEPS TO SUCCESSFUL BORROWING 10.7 MATCHING FINANCIAL SOURCES TO STRATEGIC OBJECTIVES 10.8 PREPARING THE FINANCING PROPOSAL 10.9 MAKING THE PRESENTATION 10.10 OTHER FACTORS IN BORROWING/LENDING DECISIONS 10.11 MUNICIPAL AND TAXABLE BONDS 10.12 LEASING AND NONTRADITIONAL FINANCING SOURCES 10.13 DEVELOPING A DEBT AND HEDGING POLICY 10.14 LIABILITY MANAGEMENT IN PRACTICE 10.15 CONCLUSION NOTES

CHAPTER 11: CASH MANAGEMENT AND BANKING RELATIONS

11.1 INTRODUCTION 11.2 WHAT IS CASH MANAGEMENT? 11.3 COLLECTION SYSTEMS: MANAGING AND ACCELERATING RECEIPT OF FUNDS 11.4 DISBURSEMENTS 11.5 STRUCTURING A FUNDS MANAGEMENT SYSTEM 11.6 MONITORING BANK BALANCES AND TRANSACTIONS 11.7 CASH FORECASTING 11.8 SHORT-TERM BORROWING 11.9 SHORT-TERM INVESTING 11.10 BENCHMARKING TREASURY FUNCTIONS 11.11 UPGRADING THE CALIBER OF TREASURY PROFESSIONALS 11.12 SECURITY AND RISK MANAGEMENT ISSUES 11.13 TRENDS IN TREASURY MANAGEMENT NOTES APPENDIX 11A: DIRECT PAYMENT FOR NONPROFITS

SAVE TIME AND COSTS, AND ADVANCE ORGANIZATIONAL GOALS INCREASE EFFICIENCIES IN YOUR ORGANIZATION INCREASE DONATION DOLLARS AND ENCOURAGE CONTINUED GIVING KEEP YOUR BUSINESS PAYMENTS AND DONATIONS SECURE CALCULATE SAVINGS GET STARTED RESOURCES

APPENDIX 11B: DIRECT PAYMENT CASE STUDY

CHAPTER 12: INVESTMENT POLICY AND GUIDELINES

12.1 INVESTMENT POLICY 12.2 INVESTMENT GUIDELINES 12.3 CHECKLIST OF ELEMENTS FOR LONG-TERM/ENDOWMENT INVESTMENT POLICY AND GUIDELINES 12.4 INVESTMENT COMMITTEE 12.5 TRENDS IN INVESTMENT MANAGEMENT 12.6 INVESTMENT POLICY SUMMARY NOTES APPENDIX 12A: SAMPLE OF SHORT-TERM INVESTMENT POLICY AND GUIDELINES

INVESTMENT COMMITTEE INVESTMENT POLICY INVESTMENT RESPONSIBILITY REPORTING INVESTMENTS MATURITY LIMITATIONS REVIEW AND/OR MODIFICATION

APPENDIX 12B: INVESTMENT POLICY

INTRODUCTION INVESTMENT ASSETS PURPOSE OF THE INVESTMENT POLICY DELEGATION OF AUTHORITY RESPONSIBILITIES OF THE INVESTMENT AND FINANCE COMMITTEE RESPONSIBILITIES OF THE INVESTMENT MANAGER RESPONSIBILITIES OF THE CUSTODIAN CASH FLOW REQUIREMENTS GENERAL INVESTMENT PRINCIPLES/ASSUMPTIONS ASSET DIVERSIFICATION ASSET QUALITY INVESTMENT OBJECTIVES ASSET ALLOCATIONS SOCIAL RESPONSIBILITY PERFORMANCE EVALUATION AND REPORTING REQUIREMENTS

APPENDIX 12C: SHORT-TERM INVESTMENT POLICY FOR HIJ FOUNDATION APPENDIX 12D: SAMPLE OF INVESTMENT POLICY STATEMENT FOR THE ABC FOUNDATION'S LONG-TERM ENDOWMENT POOL

STATEMENT OF INVESTMENT OBJECTIVES ASSET ALLOCATION GUIDELINES FOR THE SELECTION OF FIXED-INCOME SECURITIES GUIDELINES FOR SELECTION OF EQUITIES: DIVERSIFICATION FOR EACH MANAGER PERFORMANCE PERMISSIBLE AND NONPERMISSIBLE ASSETS SELECTION OF INVESTMENT MANAGERS RESPONSIBILITIES OF THE INVESTMENT MANAGER

APPENDIX 12E: DEFINITIONS OF FIXED-INCOME INSTRUMENTS

US TREASURY SECURITIES US GOVERNMENT AGENCY OBLIGATIONS MUNICIPAL SECURITIES BANK OBLIGATIONS ASSET-BACKED SECURITIES COMMERCIAL PAPER LOAN PARTICIPATIONS CORPORATE NOTES AND BONDS REPURCHASE AGREEMENTS MONEY-MARKET MUTUAL FUNDS NOTE

APPENDIX 12F: DEFINITIONS OF EQUITY INSTRUMENTS APPENDIX 12G: GLOSSARY

CHAPTER 13: INFORMATION TECHNOLOGY AND KNOWLEDGE MANAGEMENT

13.1 INTRODUCTION 13.2 HOW MUCH TECHNOLOGY AND WHICH TO CHOOSE? 13.3 KNOWLEDGE MANAGEMENT AND INFORMATION TECHNOLOGY 13.4 INFORMATION TECHNOLOGY IN TODAY'S NONPROFITS 13.5 WHAT SHOULD I KNOW/DO BEFORE INVESTING IN TECHNOLOGY TOOLS? 13.6 SOFTWARE: DESIGN INTERNALLY OR PURCHASE? 13.7 DISCLOSURE, THE LAW, AND SECURITY 13.8 NEEDS ASSESSMENT AND ANALYSIS 13.9 POLICIES AND PRACTICES IN KNOWLEDGE MANAGEMENT AND INFORMATION TECHNOLOGY NOTES APPENDIX 13A: GLOSSARY OF BASIC TECHNICAL TERMS APPENDIX 13B: FRAMEWORK FOR AN IMPLEMENTATION STRATEGY APPENDIX 13C: CASE STUDY: USING TECHNOLOGY TO IMPROVE CASH AND TREASURY MANAGEMENT

THE SAN DIEGO ZOO'S CFO BROUGHT THE RIGORS OF CASH FLOW FORECASTING THE CULTURAL REVOLUTION ALMOST IN REACH NOTE

CHAPTER 14: MANAGING RISK, LEGAL ISSUES, AND HUMAN RESOURCES

14.1 WHAT IS RISK MANAGEMENT? 14.2 IDENTIFYING RISK 14.3 PRIMARY FINANCIAL RISK: ILLIQUIDITY 14.4 LEGAL ENVIRONMENT 14.5 SAFEGUARDING PEOPLE 14.6 DIRECTORS' AND OFFICERS' LIABILITY 14.7 SAFEGUARDING YOUR FINANCIAL AND PHYSICAL ASSETS 14.8 RISK MANAGEMENT AND HUMAN RESOURCE MANAGEMENT PRACTICES NOTES APPENDIX 14A: DERIVATIVES CHECKLIST

WHY DERIVATIVES? FORWARDS VERSUS FUTURES GUIDELINES FOR DERIVATIVES USE: A CHECKLIST NOTES

APPENDIX 14B: CASE STUDY OF ASSOCIATION'S FOREIGN EXCHANGE RISK MANAGEMENT

CHAPTER 15: EVALUATING YOUR POLICIES AND PROGRESS

15.1 INTRODUCTION 15.2 EVALUATION 15.3 EVALUATING YOUR DECISIONS AND ETHICS 15.4 EVALUATING YOUR COMMUNICATIONS 15.5 EVALUATING YOUR MENTORING AND SUPERVISORY SKILLS 15.6 TESTING YOUR SUPERVISORY AND MANAGERIAL SKILLS 15.7 EVALUATING THE STRATEGIC NATURE OF YOUR ROLE 15.8 EVALUATING THE FINANCIAL HEALTH OF YOUR ORGANIZATION 15.9 EVALUATING YOUR FINANCIAL POLICIES IN SIX KEY AREAS 15.10 EVALUATING QUALITY AND OUTCOMES 15.11 USING EXTERNAL CONSULTANTS AND DATA SOURCES 15.12 CONCLUSION NOTES

INDEX END USER LICENSE AGREEMENT

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