Annotated
Bibliography:
Financial Management |
Bryce, Herrington J. "Financial and Strategic Management for Nonprofit
Organizations." Englewood Cliffs: Prentice-Hall, 1987.
Bryce authors an authoritative book of financial planning for nonprofits. He
covers the functions of finance in nonprofits as well as legal and financial
opportunities for these organizations. Also covered are financial operations and
investments. He then discusses how recognizing financial difficulties and
opportunities can enable an organizations to set new financial
goals.
Campos, Frellie. "As funding dries up, nonprofits must work harder."
Pacific Business News, Honolulu: December 25, 1998.
Campos focuses on streamlining organizations so that they will operate in a
more effective manner and therefore will not be so dependent on government
money. Nonprofit organizations need to focus on their goals and having similar
organizations work together. By pooling their resources, it is possible to
reduce wasted money and failed attempts to reach their goals. Campos also
recommends that nonprofit organizations should make better use of tools and
outside sources to get them closer to achieving their objectives.
Herrold, Claudia Y.W. "How to Carve a Pie."
Foundation News and Commentary,
Vol. 41, No. 4. Washington D.C.: The Council on Foundations, July/August
2000.
While most nonprofit organizations find themselves struggling to fund their
programming, the Donors Forum of Ohio had the fortunate problem of creating a
process to form two endowed foundations out of Ohio's tobacco settlement money.
This fascinating article outlines the enormous task before them as they lay out
broad outlines that would guide them in a final list of recommendations to be
presented to the governor and the Ohio General Assembly. While this process is
from a government agency's perspective many of the lessons they learned along
the way can inform and direct nonprofits as they manage their finances. They
needed to work behind the scenes with key stakeholders to work out concerns like
the presence of potential grantees on the boards and spending policies that
allowed use of principal as well as interest. Their work with government
officials led them to understand the importance of educating policymakers,
building ongoing relationships with them and the value of being persistent and
consistent with messages. What Donors Forum of Ohio learned from their process
can be readily applied to a nonprofit approach to handling finances, building
consensus and strengthening relationships with stakeholders.
Hordes, Mark and McMann, Dean. "Alternative Models
for Building Wealth."
The Professional Journal. Vol. 25, No. 2, September 2000.
http://www.afsmi.org/idex.cfm?journal=1
Hordes and McMann discuss how today's service companies are finding diverse
approaches to understanding, managing, and exploring alternative options to
create wealth. While the main objective of nonprofits is not creating wealth,
this article gives a valuable insight into thinking outside the box to find
innovative options to mining financial resources. They speculate on how an
organization can explore new resources, what roadblocks might emerge, and what
knowledge needs to be acquired and transferred throughout the organization to
make a particular financial model work. They conclude that organizations must
reach beyond past paradigms, and select or create a model that best meets the
firm's culture and needs.
Maddox, David. "Budgeting for Not-for-Profit Organizations." New York:
John-Wiley and Son's Inc., 1999.
Maddox writes about budgeting for nonprofits in detail. The introduction
covers the general concepts of budgeting. The author continues with the
budgeting process, detailing the cycle and components of operating capital and
cash budgets. He also covers managing organizational finances, including long
range plans, monitoring results, financial analysis, controlling costs, deficits
and surplus budget cuts. He even includes planning and managing human resources.
He then addresses trends in budgeting including reallocation systems and
responsibility center management and budgeting. He concludes with a look at
documents and statements including their role in automation.
Mason, Stanley. "Your Best Resource." October 2000.
http://www.morebusiness.com/running_your_business/financing/d97043220
Using the analogy of computer high-speed connections, Mason pitches the idea
that entrepreneurs have valuable high-speed connections, too. Raising money is
one of the biggest issues for entrepreneurs of both profit and nonprofit
organizations. They often believe they don't have the right connections to raise
funds. Mason argues that, with persistence, entrepreneurs can find valuable
financial resources by talking to the people within their circle. Introductions
lead from a friend to friend to a company looking for just your kind of
organization to network with. "Even if you don't feel you have what it takes,
you can surprise yourself. You can be a fundraiser or a salesperson and a
successful entrepreneur if you believe!"
Oehler, John. "Nonprofits must plan for success at raising money." Buffalo
Business First, Buffalo: December 23,1996.
John Oehler discusses the importance of strategic fund raising. He introduces
this article with some amazing numbers about the amount of money that is
available for nonprofit organizations. He then explains that in order to get a
share of the money and to keep it coming, an organization must have a strategic
fund raising plan. This statement is then followed up by some important and
helpful techniques that can be used in creating and using a strategic fund
raising plan.
Schornstein Sheri L. "Who Do You Trust?" Association Management,
Washington D.C.: American Society of Association of Executives, Vol. 52. No. 11.
2000.
The author's reason for writing this article is to help executives understand
how fraud can be prevented organizations. She outlines five frequent fraud
schemes such as 1) diversion of checks received or disbursed, 2)
misappropriation of funds, 3) credit card fraud and identity fraud, 4) ghost
vendors, and 5) theft of equipment or supplies. She also covers motivations for
fraud such as greed, anger and resentment, financial problems and desperation.
She reveals fraud prevention techniques such as always restricting access to
blank checks, avoiding the use of signature stamps, eliminating associate credit
cards, verifying potential employees' credentials, and establishing guidelines
for reporting suspected fraud. Schornstein also details what happens when an
organization reports a crime and what to expect from the legal
system.
Van Nort, Roger. "Guidelines for nonprofits on reporting
revenue."
Washington Business Journal, Washington: June 26, 1998.
A look at some of the changes that the Financial Accounting Standards Board
has made for accounting practices for nonprofit organizations. This article
closely examines the changes that have been made with "contributions," "in-kind
contributions," and how the IRS is involved with these changes.
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