Nonprofit Financial Management

A timely, practical, and concise handbook of best practices for nonprofit financial management In 2010 an estimated 325,000 charities, membership groups, and trade associations?with small nonprofits disproportionately represented?stand to lose their tax exemptions for failure to comply with financial management requirements. Nonprofit Financial Management: A Practical Guide is a timely, functional, and concise handbook of best practices for nonprofit organizations of every size. Addresses federal reporting requirements and discusses methods to decrease expenses, ensure accounting control, increase revenues through professional cash management, and understand budget statements Explains how to read financial statements and analyze a nonprofit's financial condition by using the most recent IRS 990 reporting form Covers the full range of financial-management topics, including accounting, internal controls, auditing, evaluating financial condition, budgeting, cash management and banking, purchasing and contracting, borrowing and risk management Written in an easy-to-read style, with more than 100 exhibits, this book is essential for every nonprofit financial manager.

Who this Book Is For ix Acknowledgments xi CHAPTER 1 Introduction 1 CHAPTER 2 Account for Transactions 9 CHAPTER 3 Create the Internal Control System 31 CHAPTER 4 Manage the Audit 43 CHAPTER 5 Evaluate Financial Condition 77 CHAPTER 6 Prepare and Manage the Budget 97 CHAPTER 7 Manage Cash Flow 127 CHAPTER 8 Purchase Goods 137 CHAPTER 9 Contract to Provide a Service 153 CHAPTER 10 Manage Capital Assets and the Inventory 159 CHAPTER 11 Invest Funds 165 CHAPTER 12 Manage Banking Relations 185 CHAPTER 13 Borrow Funds 199 CHAPTER 14 Manage Risks 205 Notes 229 Index 237