Philanthropy and Fiscal Management
Nonprofits represent a key part of our economy and society and there are approximately 1.4 million organizations in the U.S. Nonprofit organizations exist to pursue missions that address the needs of society and function within multiple sectors. At the same time, they must be supported by sound financial management to make sure they have long term success. The rules of finance are the same for both for profit and nonprofit organizations.
Nonprofits receive funds from a variety of sources including individual donors, planned giving, DAFs, government entities, foundations, corporations, special events and investment income. This course will provide a basic overview of how philanthropy and financial management interconnect. As a fundraiser, trustee and nonprofit leader, it is crucial to know the basics of financial management and be able to understand key financial terms. There also needs to be a strong relationship with the finance office. There will be many internal meetings where financial management issues will be discussed, which may impact the future of the organization. There will also be donors and rating agencies that will ask about the financial standing. We will cover the full spectrum of the financial management process and how this connects to philanthropy. The class will be taught from the perspective of a current trustee/Endowment expert and each class will include a formal presentation, class discussion and guest speakers, where appropriate.
This course is eligible towards the completion of the Certificate in Fundraising. Bundle your coursework and earn a professional credential that communicates knowledge and skills gained. Declared Certificate students receive 10% off of courses within the program.
Starting a Nonprofit
Reserve Funds and Endowment Funds for the future
Governance and the Financial Management Process
Note: Full participation in Philanthropy and Fiscal Management is applicable for 18 points in Category 1.B – Education of the CFRE International application for initial certification and/or recertification.
You'll Walk Away with
- Basic knowledge about nonprofit financial reports
- The ability to read and interpret the IRS 990 form
- An understanding of the ethical responsibility involved in preparing financial reports
- The ability to work with volunteers to prepare financial reports
- Volunteers who serve on audit, finance, or development committees
- Finance officers