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Dedication
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Dedication
by Thomas A. McLaughlin
Streetsmart Financial Basics for Nonprofit Managers
Title Page
Copyright
Dedication
Preface
Acknowledgments
Note to Reader
Part One: Analysis
Chapter 1: Structure of Nonprofit Organizations
Corporations
Programs
Hybrid Corporations
Loss of Tax-Exempt Status: The Monster Within
Chapter 2: Mission: Managing Your Two Bottom Lines
The Role of a Value System
The Nonprofit's Dilemma and How to Solve It
Chapter 3: Accounting as a Second Language: A Nine-Point Program
The Entity Principle
Money Measurement
Conservatism Principle
The Cost Concept
The Materiality Principle
Going Concern
Dual Aspect
Realization Principle
Matching Principle
Chapter 4: Assets Are for Boards, Activities Are for Managers
Concepts Versus Details
Boards Invest, Managers Spend
If It Has to Be Decided Today, It's Probably the Wrong Question
Boards Own the Controls, Managers Implement Them
Chapter 5: Balance Sheets: How They Get That Way
Current Assets (from IRS Form 990, page 11)
Noncurrent Assets
Current Liabilities
Noncurrent Liabilities
Making the Balance Sheet Dance
Transparency, Thy Name Is IRS Form 990
What to Do
Chapter 6: Financial Analysis: A Few Analytical Tools
Financial Statement Analysis for Math Phobics
Current Ratio
Days' Cash
Days' Receivables
Cash Flow to Total Debt
Debt to Net Assets
Operating Margin
Accounting Age of Plant/Equipment (or Land, Buildings, and Equipment)
A Footnote
Chapter 7: Beyond the C3: Alternate Corporate Structures
Commonly Available Structures
Part Two: Accounting
Chapter 8: Nonprofit Accounting: Acknowledging the Strings Attached
Net Asset Categories
Other Provisions
What It All Means
Chapter 9: Cost Accounting: How Much Does It Cost?
A Form of Management Accounting
Indirect Costs
Certain Support Costs Get Assigned to Other Support Costs
Breakeven Analysis—Another Use for Cost Data
Cost Accounting versus Cost Reporting
Chapter 10: Auditing: Choosing and Using an Auditor
Audit, Review, and Compilation
The Auditor Market
Getting Value from the Audit
Conclusion
Part Three: Operations
Chapter 11: Cash Is King
Up the Balance Sheet
How Much Cash Is Enough?
Conclusion
Chapter 12: Capital: Not a Four-Letter Word
Sources of Capital
The Mechanics of Capital Financing
The Present Value of Money
The Great Divide among Nonprofits
Future Access to Capital Markets
The Role of Net Assets
Strategic Capital Management
Chapter 13: Budgeting: Taming the Budget Beast
Playing Revenues Like a Symphony
Expenses
Conclusion
Chapter 14: Indirect Costs and Other Despised Items
Rules Govern Audits, Economics Rules Budgets
Still, It's Low That Counts
Secrets of the Indirect Cost Game
Chapter 15: Managing Money-Losing Programs
The Origin of the Problem
Solutions
Other Sources of Value
Ding Ding Ding Ding Ding!
Chapter 16: The Milestones of Spending on Overhead Costs
Chapter 17: Pricing: How Much Should It Cost?
Pricing Methodologies
Going the Other Way—Contractual Adjustments and Subsidies
Pricing Strategies
How to Price
Chapter 18: Profit: Why and How Much?
Profit Defined
Uses of Profit
Profit—How to Get It
What Can Be Done
Chapter 19: To Raise More Money, Think Cows
Donations
Bequests—Cow to Charity
Charitable Remainder Trusts—Milk to Beneficiaries, Cow to Charity
Pooled Income Funds—Donors Put Their Cows in a Herd, Keep Rights to Milk
Chapter 20: Owning a Building: What's in It for You?
A Three-Part Calculation
Chapter 21: Insurance: The Maddeningly Complicated Art of Covering Your Assets
To Insure or Self-Insure?
Risk Management
Captive Insurance Companies
Quality Assurance in Disguise
Chapter 22: Internal Controls for External Goals
The Elements of Internal Control
How to Monitor the System
Maintaining the System
Conclusion
Chapter 23: Scrutiny Intensifies
Some Predictions
The Growing Industry of Charity Watching
Chapter 24: Management Controls: Toward Accountability for Performance
Management Controls circa 1980
Beyond Management Controls in the Twenty-First Century: How to Do It
Messages
How to Prepare—Changes in the CFO Role
It's Called ACCOUNTING for a Reason
Appreciate the Abrupt Change
Frame the New Role
Meet Your New CFO
Part Four: Planning, Control, and Miscellaneous
Chapter 25: Finance Is Oil, Development Is Water
It's All about Time
The Fix
Chapter 26: When Do You CFO?
DIY
The Financial Tasks Multiply
Chapter 27: Business Models and Business Plans
First the Model, Then the Plan
How to Build Your Business Model
What, Exactly, Is a Business Plan?
What Is in a Business Plan (Usually…)?
Start-Up Nonprofits
The Restructuring Nonprofit
New Program or Division
Goals Drive the Plan
Chapter 28: How to Beat the Next Recession
Understand the Demand Pattern for Your Services
Prepare for Reductions—in New Services
Anticipate Foundation Behavior
Proactively Communicate with Your Staff
Consider Repurposing Your Reserves
Stay Calm
Appendix A: A Financial Management Cultural Primer
Appendix B: Budget Bloopers
Appendix C: Using the Website: Table of Contents with Commentary
Part One: Analysis
Part Two: Accounting
Part Three: Operations
Part Four: Planning, Control, and Miscellaneous
Introduction
System Requirements
Using the Files
User Assistance
Index
End User License Agreement
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Copyright
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Preface
To Gail, Paul,
and Emily
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