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Annotated Bibliography:
Financial Management

Bryce, Herrington J. "Financial and Strategic Management for Nonprofit Organizations." Englewood Cliffs: Prentice-Hall, 1987.
Bryce authors an authoritative book of financial planning for nonprofits. He covers the functions of finance in nonprofits as well as legal and financial opportunities for these organizations. Also covered are financial operations and investments. He then discusses how recognizing financial difficulties and opportunities can enable an organizations to set new financial goals.

Campos, Frellie. "As funding dries up, nonprofits must work harder." Pacific Business News, Honolulu: December 25, 1998.
Campos focuses on streamlining organizations so that they will operate in a more effective manner and therefore will not be so dependent on government money. Nonprofit organizations need to focus on their goals and having similar organizations work together. By pooling their resources, it is possible to reduce wasted money and failed attempts to reach their goals. Campos also recommends that nonprofit organizations should make better use of tools and outside sources to get them closer to achieving their objectives.

Herrold, Claudia Y.W. "How to Carve a Pie." Foundation News and Commentary, Vol. 41, No. 4. Washington D.C.: The Council on Foundations, July/August 2000.
While most nonprofit organizations find themselves struggling to fund their programming, the Donors Forum of Ohio had the fortunate problem of creating a process to form two endowed foundations out of Ohio's tobacco settlement money. This fascinating article outlines the enormous task before them as they lay out broad outlines that would guide them in a final list of recommendations to be presented to the governor and the Ohio General Assembly. While this process is from a government agency's perspective many of the lessons they learned along the way can inform and direct nonprofits as they manage their finances. They needed to work behind the scenes with key stakeholders to work out concerns like the presence of potential grantees on the boards and spending policies that allowed use of principal as well as interest. Their work with government officials led them to understand the importance of educating policymakers, building ongoing relationships with them and the value of being persistent and consistent with messages. What Donors Forum of Ohio learned from their process can be readily applied to a nonprofit approach to handling finances, building consensus and strengthening relationships with stakeholders.

Hordes, Mark and McMann, Dean. "Alternative Models for Building Wealth." The Professional Journal. Vol. 25, No. 2, September 2000.
Hordes and McMann discuss how today's service companies are finding diverse approaches to understanding, managing, and exploring alternative options to create wealth. While the main objective of nonprofits is not creating wealth, this article gives a valuable insight into thinking outside the box to find innovative options to mining financial resources. They speculate on how an organization can explore new resources, what roadblocks might emerge, and what knowledge needs to be acquired and transferred throughout the organization to make a particular financial model work. They conclude that organizations must reach beyond past paradigms, and select or create a model that best meets the firm's culture and needs.

Maddox, David. "Budgeting for Not-for-Profit Organizations." New York: John-Wiley and Son's Inc., 1999.
Maddox writes about budgeting for nonprofits in detail. The introduction covers the general concepts of budgeting. The author continues with the budgeting process, detailing the cycle and components of operating capital and cash budgets. He also covers managing organizational finances, including long range plans, monitoring results, financial analysis, controlling costs, deficits and surplus budget cuts. He even includes planning and managing human resources. He then addresses trends in budgeting including reallocation systems and responsibility center management and budgeting. He concludes with a look at documents and statements including their role in automation.

Mason, Stanley. "Your Best Resource." October 2000.
Using the analogy of computer high-speed connections, Mason pitches the idea that entrepreneurs have valuable high-speed connections, too. Raising money is one of the biggest issues for entrepreneurs of both profit and nonprofit organizations. They often believe they don't have the right connections to raise funds. Mason argues that, with persistence, entrepreneurs can find valuable financial resources by talking to the people within their circle. Introductions lead from a friend to friend to a company looking for just your kind of organization to network with. "Even if you don't feel you have what it takes, you can surprise yourself. You can be a fundraiser or a salesperson and a successful entrepreneur if you believe!"

Oehler, John. "Nonprofits must plan for success at raising money." Buffalo Business First, Buffalo: December 23,1996.
John Oehler discusses the importance of strategic fund raising. He introduces this article with some amazing numbers about the amount of money that is available for nonprofit organizations. He then explains that in order to get a share of the money and to keep it coming, an organization must have a strategic fund raising plan. This statement is then followed up by some important and helpful techniques that can be used in creating and using a strategic fund raising plan.

Schornstein Sheri L. "Who Do You Trust?" Association Management, Washington D.C.: American Society of Association of Executives, Vol. 52. No. 11. 2000.
The author's reason for writing this article is to help executives understand how fraud can be prevented organizations. She outlines five frequent fraud schemes such as 1) diversion of checks received or disbursed, 2) misappropriation of funds, 3) credit card fraud and identity fraud, 4) ghost vendors, and 5) theft of equipment or supplies. She also covers motivations for fraud such as greed, anger and resentment, financial problems and desperation. She reveals fraud prevention techniques such as always restricting access to blank checks, avoiding the use of signature stamps, eliminating associate credit cards, verifying potential employees' credentials, and establishing guidelines for reporting suspected fraud. Schornstein also details what happens when an organization reports a crime and what to expect from the legal system.

Van Nort, Roger. "Guidelines for nonprofits on reporting revenue." Washington Business Journal, Washington: June 26, 1998.
A look at some of the changes that the Financial Accounting Standards Board has made for accounting practices for nonprofit organizations. This article closely examines the changes that have been made with "contributions," "in-kind contributions," and how the IRS is involved with these changes.


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