Examination of the theory and practice that are essential to understanding how fiscal management should be conducted within a nonprofit organization from a tax, legal, board, and donor perspective. Overview of the knowledge and skills necessary to provide financial leadership in a nonprofit organization, with emphasis on appropriate financial and management strategies including types of giving, gifts processing, grant administration, long- and short-range planning, financial resource management, budgets, financial statements, tax benefits and planning, compliance and financial decision-making tools. The fiduciary responsibilities of both board and staff will be delineated.
- Navigate the financial complexities of nonprofit management and governance with confidence and ease
- Interpret financial statements and create appropriate financial controls and policies
- Assemble an annual budget
- Examine accounting and tax codes specific to nonprofits including Sarbanes Oxley and California’s Nonprofit Integrity Act.
- Compare the various structures and avenues for financially supporting a nonprofit organization and the advantages and disadvantages of each
- Determine information to consider when making financial decisions: long-term consequences, short-term benefits, mission alignment, who benefits, and who might be harmed
- Differentiate between the fiduciary responsibilities of the board of directors and of staff
- Assess the financial health of a nonprofit organization