Finance Fundamentals for Nonprofits / Wiley Nonprofit Authority (ePub)

Preface ix Acknowledgments xi CHAPTER 1 Introduction: How Nonprofits Are (and Are Not) Like Businesses 1 What Are Nonprofits? 2 Why Are There Nonprofits? 4 Nonprofits as Businesses 5 Advantages and Disadvantages of Being Nonprofit 8 This Book's Agenda 11 Concluding Thoughts 14 CHAPTER 2 Accounting: Measuring Past Performance 15 Basis of Accounting and Audits 16 Statement of Financial Position 17 Statement of Activities 20 Other Statements and Notes 26 What to Look For 27 IRS Form 990 30 Concluding Thoughts 31 CHAPTER 3 Investing: Looking to the Future 33 Investing 33 Endowment 39 Values-Centered Investing 42 Concluding Thoughts 46 Appendix 47 CHAPTER 4 Budgeting: Taking Control of the Present 49 Budgeting Practices 49 Budget Structure 53 Reconciling Budgets and Financial Statements 55 Reconciling Budgets and IRS Form 990 63 Concluding Thoughts 64 CHAPTER 5 Nonprofits in History and Tax Law: Why Nonprofits Do What They Do 65 Classification 66 Unrelated Business Income Tax 75 Intermediate Sanctions 76 Lobbying and Political Action 78 State Law 79 Concluding Thoughts 80 CHAPTER 6 Ordinary Service Providers: Serving the Public Today 81 Long-Term Objective: Maintaining Services 82 Short-Term Objective: Resilience 85 Current Objective: Paying Bills 89 Application 90 Benchmarking 91 Concluding Thoughts 94 Appendix 94 CHAPTER 7 Membership Associations: Serving People with a Common Purpose 97 Membership Associations 98 Cooperatives 101 Capacity and Sustainability 103 Two Applications 104 Concluding Thoughts 105 Appendix: ASAE/CAL Metrics of Financial Capacity for Membership Associations 106 CHAPTER 8 Endowed Service Providers: Serving the Next Generation, Too 107 Introduction 108 Long-Term Objective: Maintaining Services 111 Short-Term Objective: Resilience 113 Current Objective: Paying Bills 115 Application: Famous University 116 Building an Endowment 117 Concluding Thoughts 119 CHAPTER 9 Grantmaking Organizations: Serving Service Providers 121 Foundation Types 122

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 1977-1990, 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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