LDR506 Financial Management of Nonprofit Organizations
Prudent planning and management of organizational finances is essential to continued success. Financial management challenges in the non-profit organization include planning, fundraising, marketing, oversight, and accountability. Students interact with all aspects of their organization's finances to gain proficiency in the rudiments of financial oversight.
Credits: 3
Student learning outcomes
- Understand the legal responsibilities of nonprofit organizations pertaining to fundraising, reporting, and use of funds.
- Develop, monitor, and modify operating budgets based on solid operational planning and sound financial forecasting, reporting, and analysis.
- Identify potential sources for donative interest in the organization, develop relations with the sources, and formulate approaches for effectively communicating needs and opportunities.
- Establish systems for accountability in the raising and disposition of funds based on sound ethical standards.
- Create a marketing plan that identifies potential consumers, determines appropriate cost to consumers, and communicates effectively regarding the value to the consumer of the service or product.
- Develop and maintain a risk management plan involving necessary internal policies and insurance protection, that facilitates the organization's productivity while protecting its resources.