Week7 Assgn Part 2 BUDGETS AND FINANCIAL REPORTS

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REQUIRED READINGS

Ott, J. S., & Dicke, L. A. (Eds.). (2016). Understanding nonprofit organizations: Governance, leadership, and management (3rd ed.). Boulder, CO: Westview Press.

Part VIII, µdgets, Financial Reports, and Management Control(pp. 267-271)

Chapter 17, (e Underpinnings of Financial and Fiscal Operations(pp. 272-279)

Chapter 18, 9pes of Nonprofit Income: Financial and Cash Flow Management Considerations(pp. 280-286)

Tschirhart, M., & Bielefeld, W. (2012). Managing nonprofit organizationsLinks to an external site.. New York, NY: John Wiley and Sons.

Chapter 7, ©nancial Stewardship and Management(pp. 140v7)

GuideStar. (2016). Highlights of IRS Form 990Links to an external site.. Retrieved from https://go.openathens.net/redirector/waldenu.edu?u…

Internal Revenue Service. (2014). Current form 990 seriesLinks to an external site.: Forms and instructions. Retrieved from http://www.irs.gov/uac/Current-Form-990-Series-For…

Miller, C. (2008). Truth or consequencesLinks to an external site.: The implications of financial decisions, Nonprofit Quarterly, 10u. Retrieved from http://nonprofitfinancefund.org/files/docs/2010/CM…

Swords, P. (2011). How to read the new IRS form 990. Retrieved from http://www.npccny.org/new990/new990.htm

REQUIRED MEDIA

GuideStar (Producer). (2015). Form 990 tutorialLinks to an external site. – full [Video file]. Williamsburg, VA: Author. Retrieved from

Walden University Career Planning and Development. (2015). OptimalResumeLinks to an external site. E Portfolio for Public Policy and Nonprofit students [Video file]. Baltimore, MD: Author. Retrieved from https://youtu.be/CQnUdTO0X00

BUDGETS AND FINANCIAL REPORTS

Organizational leaders must possess critical financial and fiscal skills to manage operations. They must be proficient at reading and understanding budgets to make informed decisions. With information provided in organizational budgets and tax forms, leaders can manage the financial health of an organization.

Historically, annual reports have provided financial information in relationship to funding sources and program outcomes. Form 990 provides more detailed information to the Internal Revenue Service. According to Arizona State University Lodestar Center for Philanthropy and Nonprofit Innovation (2010), ¯rm 990 is an annual reporting return that most federally tax exempt organizations must file with the Internal Revenue Service (IRS). It provides information on the filing organizationàmission, programs, policies, compensation, and finances. n this Assignment, you will review the annual report along with the Form 990 reports of an organization of your choice.

Choose a nonprofit organization of interest. Review the most recent annual report of the organization. Next, access Links to an external site.“>GuideStarLinks to an external site.. Access and review the last 3 years of Form 990 reports for the organization you have selected.

Based on the financial information of the organization you selected, provide the following:

A brief description of the mission of the organization selected
An overview of the budget and financial status of the organization
At least three insights gained from your research of the organizationàfinancial information

Explanation & Answer:

3 pages

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