This course provides a comprehensive understanding of the nonprofit sector from a financial perspective prioritizing the development of practical skills applicable in everyday situations. The course provides the necessary tools to analyze and assess the financial health of an organizations. It covers basic nonprofit financial aspects (basic accounting, financial statements, budgeting, cash management, cash flow etc.), procedures and best practices (financial policies, issues related to compliance and regulatory affairs). It provides the “big picture” perspective on the role of developing relations with donors, funders and financial institutions as well as on funding strategies. This course is essential for entry and mid-level professionals working in the mission-driven sector and aiming to improve their skills. It is designed as a very interactive seminar and iterative process with regular discussions and reviews during which each student will work on real life case studies.
- Understanding nonprofit organizations and the different types of nonprofits, the uniqueness of nonprofit culture, and the scope of the sector.
- Understanding nonprofit financial policies, compliance, regulatory affairs and reporting.
- Understanding basic elements of accounting, program and organizational budgeting, financial statements, cash flow, costs, balance and activity (P&L). statements in the context of nonprofit organizations.
- Identify the pros and cons of the various funding mechanisms for nonprofit organizations.
- Understand the benefits of developing strong relations with donors, funders., and financial institution and how to maximize that benefit.
- Understand the key items in vetting and reviewing funding opportunities, and sources of corporate, foundation, and government funding.