NONPROFITS AS FINANCIAL ENTITIES Nonprofit Financial Management/ Fiscal Management & Budgeting.

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Presentation transcript:

NONPROFITS AS FINANCIAL ENTITIES Nonprofit Financial Management/ Fiscal Management & Budgeting

WHAT MAKES NONPROFITS DIFFERENT FROM FOR-PROFIT BUSINESSES? WHAT ARE FINANCIAL ISSUES CURRENTLY FACING NONPROFITS? HOW SHOULD THESE BE ADDRESSED? Questions

For-Profit Non-Profit Use of funds = distribution of profits Revenue Profits – distributed, may be reinvested Success is monetary Use of funds = no distribution of profits Revenues – donations, grants, contracts, third party revenue Profits – reinvested, not distributed Success is social good Organizational Characteristics

Giving in US Economy $306.4 billion $295 billion

Nonprofits in the economy As of the second quarter of 2004: Employment in charities = 10.5% US economy (14.1 million jobs) Wage total = $321.6 billion

FOR NEXT WEEK: READINGS PRINT OUT GUIDE FOR REFERENCE NAMEPLATES ARTICLE REVIEW AND TOPIC PAPERS Questions?