Financial Management for Nonprofit Organizations

Essential tools and guidance for effective nonprofit financial management

Financial Management for Nonprofit Organizations provides students, professionals, and board members with a comprehensive reference for the field. Identifying key objectives and exploring current practices, this book offers practical guidance on all major aspects of nonprofit financial management. As nonprofit organizations fall under ever-increasing scrutiny and accountability, this book provides the essential knowledge and tools professional need to maintain a strong financial management system while serving the organization’s stated mission. Financial management, cash flow, and financial sustainability are perennial issues, and this book highlights the concepts, skills, and tools that help organizations address those issues. Clear guidance on analytics, reporting, investing, risk management, and more comprise a singular reference that nonprofit finance and accounting professionals and board members should keep within arm’s reach.

Updated to reflect the post-recession reality and outlook for nonprofits, this new edition includes new examples, expanded tax-exempt financing material, and recession analysis that informs strategy going forward.

• Articulate the proper primary financial objective, target liquidity, and how it ensures financial health and sustainability
• Understand nonprofit financial practices, processes, and objectives
• Manage your organization’s resources in the context of its mission
• Delve into smart investing and risk management best practices

• Manage liquidity, reporting, cash and operating budgets, debt and other liabilities, IP, legal risk, internal controls and more
• Craft appropriate financial policies

Although the U.S. economy has recovered, recovery has not addressed the systemic and perpetual funding challenges nonprofits face year after year. Despite positive indicators, many organizations remain hampered by pursuit of the wrong primary financial objective, insufficient funding and a lack of investment in long-term sustainability; in this climate, financial managers must stay up-to-date with the latest tools, practices, and regulations in order to serve their organization’s interests. Financial Management for Nonprofit Organizations provides clear, in-depth reference and strategy for navigating the expanding financial management function.  

JOHN T. ZIETLOW, D.B.A., CTP, is a professor of finance at Southwest Baptist University, Bolivar, MO, and he also teaches graduate nonprofit financial management at Indiana University-Purdue University at Indianapolis and Indiana University, Bloomington.

JO ANN HANKIN is a nationally recognized consultant in the field of fundraising, and financial/administrative management for nonprofits.

ALAN SEIDNER was the founder of Seidner & Company of Pasadena, California, an investment management and consulting firm. He is currently a Senior Consultant for Client Development with the Pyatt Broadmark Real Estate Lending Funds.

TIMOTHY J. O’BRIEN, PHD, serves as a practitioner faculty at North Park University, School of Business and Nonprofit Management.

The revised and updated third edition of Financial Management for Nonprofit Organizations is an important guide to the myriad practical and ethical considerations for successful financial management of a nonprofit organization. The authors--noted experts in the field--reveal how nonprofits differ from the other sectors and explain how to responsibly govern and manage a nonprofit's finances. The third edition puts the focus on the most current and proficient practices in nonprofit financial management. The book contains survey evidence from recent studies that examine the most effective financial tools and techniques and profiles business-sector practices that can be adopted by organizations in the nonprofit sector. In addition, the authors include case studies that highlight the best practices in financial management. Comprehensive in scope, Financial Management for Nonprofit Organizations covers the wide range of practices including accountability structure, cash and liquidity reporting and management, budgeting, financial statements, investment policies and management, and other essential topics. The book is a practical resource written in accessible terms and contains a wealth of helpful forms and checklists. No matter how large or small an organization, this book offers a hands-on resource for a range of nonprofit professionals. It is designed for treasurers with little or no practical experience as well as savvy board members, staff, chief executive officers, and chief financial officers. The leader of a nonprofit (regardless of his or her title) needs the knowledge, skill, and the ability to balance the nonprofit's mission in concert with effective management of the organization's funds. Financial Management for Nonprofit Organizations is the indispensable resource for understanding how to reach a nonprofit's financial goal in a responsible and principled manner. It also continues to serve as a leading textbook for students preparing for nonprofit careers.

Effective Tools and Expert Guidance for The Ethical Management of Nonprofit Finances " The framework of this book is intended to be of immediate value to nonprofit financial professionals and board members. This handbook caters to the director of finance, budget director, or treasurer with little or no formal training, business-only training, or too little time (perhaps due to a multitude of responsibilities) or support staff to do the job the way he or she knows it can be done. Our other target audiences are the chief executive officer (or executive director) and board members. This handbook specifically includes material for small and resource-constrained organizations, as well as large ones. Material is presented in an easy-to-use format, including forms or checklists where helpful. The discussion goes beyond the buzzwords to provide reasonable steps toward more proficient treasury management." From Chapter One The revised third edition of Financial Management for Nonprofit Organizations has been updated to reflect todays post-recession reality and outlook for nonprofits. Written by a team of experts in the field, the book is filled with fresh examples, expanded material on business models, dashboard indicators, tax-exempt financing, and recession analysis that is useful for informing strategy going forward. The authors offer the basic information needed for managing an organizations financial resources and shows how to put in place (and revise) the essential policies that underpin a nonprofits financial responsibility. Covering a range of topics, the text includes information and best practices on everything from accounting, liquidity analysis and management, investments, and controlling risk, to creating sound and timely financial reports.

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