Description
This course is the product of years of working both in the nonprofitand for-profit sectors. Doing so has equipped me with a good insightof their differences and similarities. A key difference in managingfinances in the private sector versus the nonprofit sector is thealtruistic mission of a nonprofit. Many believe that the privatesector is purposed solely to attain a financial reward or profitwhile the nonprofit objective is simply to "do good". Althoughsome may question the accuracy of this statement none can deny thatboth the nonprofit and the for-profit sectors require financialresources in order to function. In reality, a nonprofit, not unlikea for-profit organization, need to have a financial grasp. In fact, doing so is integral to the sustainability and the continuation ofthe nonprofit to provide a much needed public service. This course seeks to equip nonprofit leaders, employees, volunteers, funders, and anyone else with an interest in a nonprofit, with thestrategies and techniques that can minimize the obfuscation that canarise in managing nonprofit finances. This course identifies bestpractices in order for nonprofits to not only survive but strive inan environment that has proven challenging for a great manynonprofits-small to large. The primary focus is on providing strategies and tips on analyzingthe finances of a nonprofit. This course discusses budgets, cash, costs, financial statements, establishing internal controls, variousfinancial ratios used to evaluate nonprofit finances, and real worldpractices on how to use them. Whether as a new nonprofit or one thathas been around for decades this course concisely provide a highlevel view of the complexities of finance in an easy to understandlayout. It is the hope and desire of the authors, staff, and board of BolderBusiness Consultants that this material proves beneficial for thosecurrently working at a nonprofit, funding a nonprofit, as well as forthose who aspire to fund or work at a nonprofit.
