ORGL 3050 Financial Management of Nonprofits
This course emphasizes the importance of cash flow management for nonprofits. The student will develop financial tools such as building budgets, analyzing financial statements, and aligning financial decisions with the organization's mission and sustainability. The student will evaluate financial procedures and tools used by nonprofit managers. The student will explore strategies to present financial analysis and budgets to a board of directors. (3 lect.)
Major Topics
- Financial management
- Budgeting
- Reporting
- Strategic planning
- Program analysis
- Funds
Outcomes
In order to successfully complete this course, the student will:
1. Examine best practices for nonprofit budgeting including: timeline, relevant input from stakeholders, and presentation to board of directors.
2. Critique nonprofit financial statements, budgeting practices, software applications, and effective financial messaging and reporting.
3. Research key challenges that an organization faces in strategic financial management and stewardship.
4. Examine the influence of financial management and sustainability in executive decision-making.
5. Assess the process of matching organizational mission with financial resources in terms of financial output and program outcomes.