Budgeting and Financial Management for Nonprofit Organizations: Using Money to Drive Mission Success

In the nonprofit sector, money drives mission. Well-managed budgets and investments can spur long-term growth and achievement, while financial mismanagement can damage and even destroy organizations. Weikart, Chen, and Sermierùin their exciting new text geared wholly to nonprofitsùprovide the financial tools nonprofit managers need to thrive in pursuit of mission success. Given the wide array of nonprofit managersÆ backgrounds, and recognizing that there is often an inherent fear of ôthe financials,ö the authors explain financial concepts without leaning unnecessarily on intimidating jargon. The result is a practical, accessible resource the prepares the next generation of nonprofit managers in financial planning and analysis as well as conventional and entrepreneurial financial management. Grounded in real-world cases and offering plenty of opportunity for application and practice, Budgeting and Financial Management for Nonprofit Organizations helps readers develop a stable fiscal foundation and sound financial strategies for their organizations to prosper in times of economic expansion and contraction.


FEATURES & BENEFITS:

Nonprofit leaders are not often financial experts, so the authors provide a unique “Financial Tools for Informed Decision Making” chapter to help financial experts present data in a way that these leaders can fully understand the reality of their nonprofit’s fiscal situation.
Case studies, rich with detail and featuring both real and theoretical situations, ask students to engage in the tasks of a financial manager, such as examining a nonprofit’s budget to determine revenues and program costs to make fiscal year comparisons, generating appropriate data to aid decision-makers in determining whether to launch a new program, and following the steps toward creating a balanced budget.
Skill-building exercises and assignments allow students to apply new skills, including such activities as developing a cash budget, applying the direct allocation method, recording transactions, and creating a statement of financial position.
Abundant tables, figures, and worksheets promote accounting, data, and financial statement literacy.
Chapter objectives, bolded key terms, and a glossary provide useful reference and study aids.

About the Authors
Preface
I. INTRODUCTION
1. An Introduction to Nonprofits: Mission and Money
II. PLANNING AND BUDGETING
2. Budgeting as Part of the Planning Process
3. Liquidity and Managing Cash Flow
4. Analyzing Costs
III. FINANCIAL ANALYSIS IN NONPROFIT ORGANIZATIONS
5. Principles of Accounting and Reporting Requirements
6. Understanding Financial Statements
7. Financial Analysis
8. Financial Tools for Informed Decision Making
IV. FINANCIAL MANAGEMENT
9. Understanding Revenues
10. Performance Measurement in Financial Management
11. Time Value of Money and Cost-Benefit Analysis
12. Capital Budgeting and Financing
13. Investment Strategies
14. Internal Controls
V. NEW DIRECTIONS
15. Adapting to Turbulent Times: Conventional and Entrepreneurial Financial Strategies
Appendixes
Glossary
Index

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