What is the nonprofit equivalent of profit? Should nonprofits try to maximize it, the way businesses strive to boost revenue? Rich with practicality, Finance Fundamentals for Nonprofits: Building Capacity and Sustainability clearly lays out the best practices and solid finance principles you need to understand the business of being nonprofit.
Public finance expert Woods Bowman starts by looking at the two essential dimensions of financial health capacity, an ability to do things and withstand unexpected shocks, and sustainability, the maintenance of financial capacity explaining how to measure your nonprofit’s financial capacity in different time frames and then measure its ability to sustain that capacity.
Along with a companion website featuring a variety of online tools, this hands-on guide explores topics, including:
- Accrual accounting, highlighting treatment of non-commercial (alternative) income
- The legal and management issues an endowment raises
- How to configure budgets to conform to nonprofit accounting rules
- Reconciling budgets with both financial statements and the IRS Form 990
- How federal tax law classifies tax-exempt institutions
- Ordinary service providers
- Membership associations
- Endowed service providers
- Grantmakers
- How producers of goods and services can improve sustainability through revenue management
- The ethical duties of nonprofits
Filled with real-world case studies, this user-friendly, jargon-free guide uniquely blends business and public service perspectives on nonprofit financial management, providing you with the know-how and confidence you need to establish the financial capacity your nonprofit’s mission requires and sustaining it over time.
From the Back Cover
What is the nonprofit equivalent of profit? Should nonprofits try to maximize it, the way businesses strive to boost revenue? Rich with practicality, Finance Fundamentals for Nonprofits: Building Capacity and Sustainability clearly lays out the best practices and solid finance principles you need to understand the business of being nonprofit.
Public finance expert Woods Bowman starts by looking at the two essential dimensions of financial health capacity, an ability to do things and withstand unexpected shocks, and sustainability, the maintenance of financial capacity explaining how to measure your nonprofit’s financial capacity in different time frames and then measure its ability to sustain that capacity.
Along with a companion website featuring a variety of online tools, this hands-on guide explores topics, including:
- Accrual accounting, highlighting treatment of non-commercial (alternative) income
- The legal and management issues an endowment raises
- How to configure budgets to conform to nonprofit accounting rules
- Reconciling budgets with both financial statements and the IRS Form 990
- How federal tax law classifies tax-exempt institutions
- Ordinary service providers
- Membership associations
- Endowed service providers
- Grantmakers
- How producers of goods and services can improve sustainability through revenue management
- The ethical duties of nonprofits
Filled with real-world case studies, this user-friendly, jargon-free guide uniquely blends business and public service perspectives on nonprofit financial management, providing you with the know-how and confidence you need to establish the financial capacity your nonprofit’s mission requires and sustaining it over time.
About the Author
WOODS BOWMAN, PHD, is a Professor of Public Service at DePaul University who brings to the classroom a range of experience in public finance and a passion for ethical governance. He is the former CFO of Cook County, a former member of the House of Representatives, Illinois General Assembly, from 19771990, and former chair of the Appropriations II Committee. He is a board member of the Association for Research on Nonprofit Organizations and Voluntary Action. He received the Chairman’s Award from Goodwill Industries International for his service to a local affiliate. His articles have appeared in Nonprofit Management and Leadership and Nonprofit and Voluntary Sector Quarterly. In addition, Dr. Bowman writes a column on ethics for the Nonprofit Quarterly.
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