Financial Management for Nonprofits: Keys to Success by Peter Konrad, Ed.D, CPA and Alys Novak, MBA.
NONPROFITS AS FINANCIAL ENTITIES Nonprofit Financial Management/ Fiscal Management & Budgeting.
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Transcript of NONPROFITS AS FINANCIAL ENTITIES Nonprofit Financial Management/ Fiscal Management & Budgeting.
NONPROFITS AS FINANCIAL ENTITIES
Nonprofit Financial Management/ Fiscal
Management & Budgeting
•WHAT MAKES NONPROFITS DIFFERENT FROM FOR-PROFIT BUSINESSES?•WHAT ARE FINANCIAL ISSUES CURRENTLY FACING NONPROFITS?•HOW SHOULD THESE BE ADDRESSED?
Questions
For-ProfitFor-Profit Non-ProfitNon-Profit
Use of funds = distribution of profits
RevenueProfits – distributed,
may be reinvestedSuccess is monetary
Use of funds = no distribution of profits
Revenues – donations, grants, contracts, third party revenue
Profits – reinvested, not distributed
Success is social good
Organizational Characteristics
Giving in US Economy
2007 - $306.4 billion
2006 - $295 billion
Nonprofits in the economy
As of the second quarter of 2004:
Employment in charities = 10.5% US economy (14.1 million jobs)
Wage total = $321.6 billion
FOR NEXT WEEK:•READINGS•PRINT OUT GUIDE FOR REFERENCE•NAMEPLATES•ARTICLE REVIEW AND TOPIC PAPERS
Questions?