Course 405 - Financial Planning for Nonprofits
Course 405 - Financial Planning for Nonprofits (3 credits)
The focus of this course is financial planning, including such topics as: basic planning and leadership principles, underlying organizational issues involved with planning and budgeting, financial planning principles and practices, including in-depth analysis of one organization’s planning process, knowledge of how organizational ethics, norms, strategic planning and direction influence both its income and expenses.
Note: This course requires access to the financial records of a nonprofit organization that has been in operation for at least ten years..
Professor: Barbara Clemenson
Learning Objectives for this Course
- Understand the differences between management accounting and financial accounting.
- Understand the challenges with management accounting.
- Understand the importance and essence of information, and know how we can become better users and providers of information.
- Understand why planning is important, and know how to take the first steps in planning for an organization.
- Learn from a nonprofit executive what information he/she believes is important and what they use to make the decisions they face.
- Understand the critical importance of ethics in financing, both personally and organizationally.
- Assess their own ethics and determine one area in which they will become, with God's help, a person of greater integrity.
- Reflect on an organization that displayed great or little integrity.
- Understand what a budget is, and what it isn't.
- Know the proper process for planning a budget, including what questions to ask and answer BEFORE planning.
- Walk through a sample process of budgeting.
- Understand the major principles of sound budgeting, and the dangers of not following them.
- Understand the importance of setting goals and designing plans.
- Understand the differences between wants and needs, and be able to articulate, as well as empirically and objectively provide support for their program's needs.
- Be able to ask critical questions in order to assess if their organization should begin a program.
- Articulate the difference between outputs and outcomes, and formula precise outcomes for their programs.
- Understand at a deeper level how to actually plan in an organization.
- See samples of two years of actual budgeting worksheets and presentations from one organization.
- Refine their ability to articulate program needs and outcomes.
- Develop appropriate program activities and list needed inputs, based on those activities.
- Understand the expenses associated with program inputs, including:
- Direct expenses
- Indirect expenses
- Employee expenses
- Operating and capital expenses
- Determine expenses for their program, based upon the program inputs
- Understand that basics of nonprofit income, including:
- The difference between earned and unearned income
- The advantages and disadvantages of each type of incom
- Determine what kind(s) of income are best suited for their program, and write a development plan to fund their program, explaining and justifying their decisions.
- Understand that basics of capital campaign planning -- both expenses and income -- and how engaging in a capital campaign is different than and impacts an organization's ongoing operating budget.
- Apply the principles they have learned by analyzing the budgeting process of a nonprofit organization, assessing their procedures and offering recommendations.
- Understand the importance of planning for cash flow for both operations and capital expenditures.
- Understand how cash flow issues, including seasonality, impacts an organization's financial planning.
- Apply the financial planning princles they have learned throughout the course by completing their project proposal.
Course Materials & Tuition
|The Budget-Building Book for Nonprofits, ISBN: 978-0787996031||$32.00|
|The Cash Flow Management Book for Nonprofits, ISBN: 978-0787953850||$30.00|
Total Cost of Course
- Contact us for more information.
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