Financial and Strategic Management for Nonprofit Organizations A Comprehensive Reference to Legal, Financial, Management, and Operations Rules and Guidelines for Nonprofits

ISBN-10: 0787950262
ISBN-13: 9780787950262
Edition: 3rd 1999 (Revised)
List price: $98.00
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Description: This is an encyclopedic account of all the key financial, legal, & managerial issues facing nonprofit executives. It provides grounding in the five fundamental pillars of nonprofit management- mission, money, marketing, management & membership.

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Book details

List price: $98.00
Edition: 3rd
Copyright year: 1999
Publisher: John Wiley & Sons, Incorporated
Publication date: 12/17/1999
Binding: Paperback
Pages: 816
Size: 7.50" wide x 9.75" long x 2.00" tall
Weight: 3.586
Language: English

This is an encyclopedic account of all the key financial, legal, & managerial issues facing nonprofit executives. It provides grounding in the five fundamental pillars of nonprofit management- mission, money, marketing, management & membership.

List of Tables, Figures, and Exhibits
List of Sidebars
Preface
Acknowledgments
The Author
Types of Organizations and Their Operating Rules
The Fundamental Pillars of Nonprofit Management
The Unique Challenge
The Financial Benefits and Disadvantages of Being a Nonprofit
The Bases for Effective Management
Elements of Strategic Efficiency in Nonprofit Management
The Centrality of Mission and Finance
Managerial Ethics and the Integrity of the Organization
Summary and Preview
Protecting the Tax-Exempt Status
The Nonprofit Corporation
The Process of Becoming a Nonprofit Corporation
Resolving Differences Between State Charters and the IRS Prototype
Specific Powers of the Nonprofit Corporation
Specific Prohibitions
The Purpose or Mission of the Corporation
Tax Consequences of Specific Missions
Purposes and Privileges of 501(c)(3) Status
Acquiring Section 501(c)(3) Tax-Exempt Status
Enactment of Dissolution
Exemption Under 501(c)(3) Does Not Mean No Taxes
States and Blanket Exemptions
Factors That Threaten the Loss of Tax-Exempt Status Under 501(c)(3)
The Charitable Purpose in Canada
Summary and Preview
The Nonprofit as a Public Corporation
Forming the Publicly Supported Organization
The Basic Requirements of 501(c)(3)s
Privileges of Public Organizations
Fee-for-Service Organizations: 509(a)(2) Organizations
Diversification and Preservation of Tax-Exempt Status
Comparison of 509(a)(1) and (a)(2) Organizations
The Subsidiaries and Affiliates: Section 509(a)(3) Organizations
Canada's Charitable Organizations
Summary and Preview
Private Foundations
The Private Foundation--What It Is
The 501(c)(3) That Is Not Private
Private Nonoperating Foundations
Restrictions on Expenditures, Economic Transactions, and Investment
Private Operating Foundations
Soliciting Private and Community Foundations
Private Foundations, Public Foundations, and Charitable Organizations in Canada
Summary and Preview
Associations and Other Forms of Organizations
Revenues of Associations
Powers of Associations
Associations of Individuals
The Structure of the Organizations
Associations of Organizations
Membership Powers, Duties, and Liabilities
Nonprofits Created for State Purposes
Florida Industrial Development Finance Act
ABAG Finance Authority for Nonprofit Corporations
Lobbying and Solicitation
The Association in South Australia
Summary and Preview
Legal Responsibilities of and to Trustees
Ultra Vires and the Duty of Trustees
The Importance of Trustees
Public Interest in the Boards of Nonprofits
Size and Composition of the Board
Qualification and Removal of Trustees
Interlocking Directorates
Prohibitions on Trustees
Dealing with Possibilities of Conflicts of Interests
States and Trustee Conflict of Interest
A Five-Part Conflict of Interest Policy
Standards of Action of Trustees
Specific Functions of the Board
Emergency and Appointive Powers of Trustees
Trustee Oversight and Ethics
Instituting Procedures
Illustration: Trials and Tribulations of Trustees
Duty of Organization to Trustees
Rights of Trustees
Volunteer Versus Paid Boards
Controlling Trustee Meeting Costs
Liability of Trustees
Legal Limitations on Trustee Indemnification
Three Cs for Selecting Trustees
Five Steps to Attracting Good Trustees
Summary and Preview
Financing the Organization
Increasing Gifts and Contributions
The Importance of Contributions
The Competition for Gifts and Contributions
Individual and Corporate Motives for Giving
Dangers in Receiving Gifts
Why Corporations May Say No
Government Promotion of Giving
The Importance of Tax Deductibility of Contributions
Tax Deductibility: Three Cases
Legal Characteristics of a Tax-Deductible Gift
Borrowing to Make a Donation
Problems of Accepting Gifts Subject to Debt
Bargain Sales
Losses
Value of Gifts of Present Interests
Alternative Minimum Tax and Appreciated Property: 1990
Gifts of Stocks: Perspectives of Donor and Donee
Limits on Giving
Problems and Strategies of Large Gifts
Gifts and Contributions in Canada
Ethical Guidance in Fund-Raising
Mix Strategies
Summary and Preview
Trusts, Wills, Annuities, Life Insurance, and Endowments
The Uses of Trusts: Deferred, Extended Benefits, and Cash Flow
The Law and the Management of Trust Funds
Examples of the Application of Trust Concepts
An Advanced Application of a Remainder Unitrust
An Advanced Application of a Charitable Lead Trust
The Uses of Wills: Gifts Deferred Until Death
Life Insurance: Magnifying the Value of Small Gifts
Role of Insurance in Fund-Raising Strategy
Annuities: Providing Income Flows
Steps for Determining Deferred Giving Instruments
Endowments: Perpetuating a Gift
The Law and the Investment of Endowment and Other Institutional Funds
Four Essential Steps for an Endowment
Valuation of Future Gifts
Summary and Preview
Business Revenues and Tax-Exempt Status
The Nonprofit as an Economic Institution
Gaming and Gambling
Profit-Making as a Source of Revenues
Costs and Other Stimuli to Generating Business Revenues
How Will the Investment Affect the Tax-Exempt Status in Canada and in the United States?
How to Acquire a Business
Should the Business Be Related or Unrelated?
Should the Business Be Separately Incorporated?
Where Does the Money Come From to Acquire the Business?
Is the Business Profitable?
Is Profitability Enough?
What Will the Investment Cost?
From a Financial Perspective, Is the Investment Worth It?
Do the Benefits Exceed the Costs?
When Will the Organization Recapture Its Investment?
What Are the Risks?
What Will It Take to Break Even?
What Can Be Done with the Earnings of the Business?
How Will Entry into the Business Be Made?
What Is the Competition? Is It Fair?
What Do the Trustees Think of the Plan?
Ethical Dilemma of Business Competition
Summary and Preview
Organizational and Tax Consequences of Business Ventures
The Importance of Business in the Nonprofit Corporate Structure
Definition of Related and Unrelated Nonprofit Businesses
Excess Profits: A Distinction Between Related and Unrelated Income
Integration of Business Operations into a Conglomerate Structure
The Organization of an Unrelated Business
Benefits, Consequences, and Opportunities of Unrelated Businesses
Tax Treatment of Different Types of Business Income
Sources of Unrelated Business Income: A Simplified View
Ten Questions to Judge Whether Business Will Be Unrelated
The Federal Tax
Other Costs of Unrelated Business Income
Summary and Preview
Pitfalls in Marketing, Lobbying, and Solicitation
The Exchange
Choosing an Object of Marketing
Choosing a Target
Unlawful Marketing and Solicitation and the First Amendment
Marketing and Liability
Unrelated Business Income Tax: Advertising
The Importance of Trustee Policy
Evaluation
Five Ms for Successful Nonprofit Marketing
An Ethical Dilemma in Marketing
State Charitable Solicitation Requirements
Disclosure of Lobbying
Federal Rules on Solicitation by Associations and PACs
Soliciting Through a Fund-Raiser
Ethics and the Donor's Right
Summary and Preview
Controlling Organizational Costs and Risks
The Budget as a Tool of Control and Contracting
The Budget as a Management Tool
The Budget as a Sum of Parts
The Budget as Contemporary History
Capital and Operating Budgets
Budgets as Baseline
Budgets as Fiction
Principles Underlying Budgets
Zero-Based Budgeting and PPBS
Efficiency: Costs and Support
The Importance of Distinguishing Between Cash (Expenditures) and Costs in Budgeting
Classification and Treatment of Costs in Budgeting
Unallowable Indirect Costs
Managerial Use of Actual Indirect Cost Allocation
Allocating Joint Costs When Fund-Raising Is an Activity
Ten Steps to Cost Budgeting
How to Estimate Costs
Key to Controlling Costs
Leasing as a Fixed-Cost Strategy
Outsourcing as a Cost Strategy
Support and Revenues
Allocating Dollars Across Programs
Permanent Revenues and Fixed Costs
Forecasting
Illustration: Costs and Revenues and Their Relationship to the Budget
Budgeting by Scenario
Budget Formats: Form Follows Function
A Recommended Format for Using the Budget as a Control Tool
A Budget Format for the Board
Summary and Preview
Compensation and Employee Benefits
Excess Executive Compensation
Reasonable Compensation
Social Security
Disability Income Insurance
Life Insurance
Accidental Death and Dismemberment
Medical and Hospitalization Insurance
Pensions
Cafeteria Plans
Profit-Sharing Plan
Fringe Benefits
ERISA and IRS Rules
Ten Steps to Setting Up the Benefit Package
Independent Contractors and Social Security
Summary and Preview
Managing Against Claims of Negligence and Harassment
The Basics of Risk Management
Types of Risks
Risks Associated with Agents and Representatives
Protecting Against Liability of Independent Contractors
Legal Shields
Coverage: Shields Can Be Penetrated
Risks of Sexual Harassment
Risks of Harassment
Enforcement Guidance on Vicarious Employer Liability for Unlawful Harassment by Supervisors
Summary and Preview
Managing the Organization's Finances
Financial Statements as Tools of Conversation and Control
Financial Statements as an Aid to Management
The Balance Sheet or Statement of Financial Position
Statement of Support, Revenues, and Expenses or Statement of Activities
Statement of Changes in Financial Position
General Aspects of Interpretation
Funds: A Managerial Accounting Perspective
Audit
Preparing for an Audit
Illustration of Managerial Use of Financial Statements
How Much Do Financial Statements Tell?
The Notes
Summary and Preview
Evaluating, Setting, and Implementing Financial Goals
Questions for Evaluating Old Targets
Considerations in Setting New Targets
The Treasurer's Report
Assessment of Revenue Alternatives
Cash Management and Investment Strategies: Increasing Cash
Borrowing as a Source of Cash
Uses of Cash
Liquidity Versus Investment and Risk Versus Safety
Ten Considerations in Selecting and Maintaining a Bank Account
Setting Up a Portfolio: First Steps
Selecting Securities and Rebalancing Portfolios
Investment Pools
Capital Planning
Capital Budgeting and Endowment Planning: Setting Targets and Identifying Sources of Capital
Accumulation and Disbursement Strategies
Preservation of the Terms of Endowment
Time and Risks in Endowment Planning
Setting Target Prices, Fees, and Dues
Summary and Preview
Strategic Planning for Growth and Survival
Strategic Planning as a Management Tool for Growth and Survival
The Importance of Strategic Planning: Growing the Organization Cohesively
The Importance of Strategic Planning to Associations
Strategic Planning as a Winnowing Tool
Strategic Planning: Purposes and Approaches
Mission, Ethical Codes, and Strategic Options
Strategic Options: Profits Versus Mission
Strategic Options: Competitors and Cooperators
Life Cycle of Needs: Time to Change
Illustration: Life Cycle and Disasters
Planning Period
Conducting Needs Analysis
Setting Priorities: An Illustration
Monitoring for Performance
Monitoring for Risks and Control
Evaluating, Benchmarking, and Reporting
Summary and Preview
Searching for Strategic Opportunities and Alliances
The Importance of Identifying New Niches in Old Missions
Economic Purpose of Nonprofits
Symbiotic Relationship
Nonprofit Opportunities Generated by the Market Economy
Nonprofit Opportunities Generated by Market Failures
Pure Public Goods and Nonprofits
Nonprofit Financing of Public Goods and Responses to Externalities
Nonprofits and Market Monopoly
Noneconomic Consequences of Market Behavior and Opportunities for Nonprofits
Socially Complex Problems and the Need for Nonprofits
Opportunities for Profitable Cooperation Between Nonprofit and For-Profit Corporations
Illustrations: Coexistence of Charity and Capitalism
Designing a Partnership: Illustrations
Strategic Alliances, Control, and Other Concerns
Market Activities and the Threat to Nonprofit Status
Essentials of a Partnership Agreement
Seven Key Questions About Partnerships
Limited Partnerships for the Purpose of Giving and Politicking
Summary and Preview
Reorganization: Mergers, Divestitures, Sale of Assets, Acquisitions, Conversions
The Importance of Structure
The Importance of Reorganization
Antitrust
Hospital Mergers the FTC Will Not Challenge
Central Role of States in Reorganizations
Types of Reorganization
Merger of For-Profit with Nonprofit
Issues for the Trustees in All Dispositions
Formal Plans for Reorganization
Postmerger Trauma
The Rebirth
Summary and Conclusion
Appendixes
Standards of the National Charities Information Bureau
Mathematics of Lobbying Expenditures
National Taxonomy of Tax-Exempt Entities--Core Codes
Draft Letter Awarding Tax-Exempt Status
Sample Conflicts of Interest Policy (Revised 5/22/97)
Restrictions Attached to Donations Violate Antitrust Law
IRS Example of Declaration of Trust
Breakeven Point
Exclusions to Unrelated Business
Unified Registration Statement
Key Concepts in Federal Contracting and Glossary of Common Financial Terms Found in Such Contracts
Risks of Cost Denial
Accounting for Gifts and Contributions
Notes
Suggested Readings
Index

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