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Budgeting and Financial Management for Nonprofit Organizations
Using Money to Drive Mission Success
First Edition
- Lynne A. Weikart - James Madison University, USA
- Greg G. Chen - CUNY-Baruch College
- Ed Sermier
September 2012 | 408 pages | CQ Press
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 nonprofits provide the financial tools nonprofit managers need to thrive in pursuit of mission success. Given the wide array of nonprofit managers' backgrounds, and recognizing that there is often an inherent fear of "the financials" 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.
Weikart, Chen, and Sermierùin their exciting new text geared wholly to nonprofits provide the financial tools nonprofit managers need to thrive in pursuit of mission success. Given the wide array of nonprofit managers' backgrounds, and recognizing that there is often an inherent fear of "the financials" 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.
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
Students found the book interesting and fundamental to their understanding of finance
Department of Marketing, Liverpool John Moores University
July 11, 2013