Financial management for nonprofit organizations : policies and practices

Financial management for nonprofit organizations Policies and practices

John T. Zietlow

Book - 2007

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Subjects
Nonprofit organizations > Finance.
Nonprofit organizations > Management.
Published
Hoboken, N.J. : [Chichester : Wiley ; John Wiley, distributor c2007.
Language
English
Main Author
John T. Zietlow (-)
Other Authors
Jo Ann Hankin (-), Alan G. Seidner
Physical Description
xxvi, 590 p.
ISBN
9780471741664
  • About the Authors
  • Acknowledgments
  • Preface
  • 1. Understanding Nonprofit Organization Finances
  • 1.1. Definition of Nonprofit Organizations
  • 1.2. Characteristics of Nonprofit Organizations
  • 1.3. Understanding the Language of the Nonprofit Organization
  • 1.4. Financial Policies
  • 1.5. Financial Practices
  • 1.6. Primary Financial Objective
  • 1.7. Conclusion
  • 2. Liquidity Management
  • 2.1. Introduction
  • 2.2. Donative 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
  • 3. Managing Mission and Strategy
  • 3.1. Value of Strategic Planning
  • 3.2. What Is Strategic Planning?
  • 3.3. What Are theOrganization's
  • Mission, Vision, andGoals/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
  • 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. Conclusion
  • 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
  • 6. Understanding Accounting Basics and Financial Statements
  • 6.1. Introduction
  • 6.2. Accounting Basics
  • 6.3. Three Financial Statements
  • 6.4. The Audit and the Audit Committee
  • 6.5. Financial Statement Users and Uses in Practice
  • 6.6. Social Accounting
  • 6.7. Additional Resources
  • 7. Developing Financial Reports and Ratios
  • 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
  • 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
  • 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
  • 10. Managing Your Organization's Liabilities
  • 10.1. Managing the Balance Sheet
  • 10.2. Payables
  • 10.3. Short-Term Borrowing
  • 10.4. Strategic Financing Plan
  • 10.5. Steps to Successful Borrowing
  • 10.6. Matching Financial Sources to Strategic Objectives
  • 10.7. Preparing the Financing Proposal
  • 10.8. Making the Presentation
  • 10.9. Other Factors in Borrowing/Lending Decisions
  • 10.10. Municipal and Taxable Bonds
  • 10.11. Leasing and Nontraditional Financing Sources
  • 10.12. Developing a Debt and Hedging Policy
  • 10.13. Liability Management in Practice
  • 10.14. Conclusion
  • 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
Review by Choice Review

Zietlow (finance, Malone College), Hankin (financial consultant for nonprofits), and Seidner (investment management professional) have produced a very thorough and readable volume. Not just a manual or a rehash of old finance/accounting works, this book is thoughtfully written and offers keen insights into the workings and essential needs of nonprofit organizations. As an example, in the early part of the book, the authors illustrate the importance of financial objectives but at the same time show that the greatest number of nonprofits have as their top financial objective simple breakeven. The authors suggest more mission-driven objectives, e.g., liquidity targets with a focus on revenue maximization. Later sections of the volume focus on ethics in the nonprofit setting, cash and capital budgeting, and setting investment policies as well as numerous other key topics. This is a significant addition to the literature on management of nonprofit organizations. Extensively documented with end-of-chapter notes; extensive index. Summing Up: Highly recommended. Graduate, faculty, and practitioner collections. F. A. Marino Assumption College

Copyright American Library Association, used with permission.

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