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Financial Management for the Nonfinancial Manager
This course will help you to establish and/or strengthen your working knowledge of financial management processes and procedures so that you can make informed decisions. Course topics and learning activities are specifically targeted to individuals who are not currently engaged in finance positions as well as those who are looking for a refresher.
Among other topics, we will discuss the importance of financial management for a nonprofit organization’s sustainability and try to remove some of the mystery about finance, budgets and the legal obligations of 501©3 organizations. We will explore policies and procedures that are essential to every nonprofit’s success, distinguish different types of financial statements used in financial management, and identify reporting requirements needed to stay in compliance with the IRS.
This course requires the participant to have basic literacy with spreadsheets (such as Excel).
- Overview of financial management for nonprofit organizations
- Building a nonprofit budget
- Financial policies and procedures: The framework of your financial system
- Financial reporting and analysis
- Legal reporting requirements and maintaining tax-exempt status
Upon completion of readings and assigned learning activities, students will be able to:
- Explain the roles and responsibilities of board and staff in developing and monitoring budgets
- Recognize the types of budgeting policies and procedures that facilitate effective budget-building
- Identify accounting controls and the system used to manage the flow of information to produce accurate and timely reports
- Identify components and best practices in managing the audit process
- Analyze the components and purpose of Form 990, including the marketing aspect
Most readings will be provided on the course website. The following book contains required readings and limited access to this text is available through the UIC library. Students may want to consider purchasing a copy of the book if they would like unlimited access to the text:
Murray Dropkin, Jim Halpin, and Bill LaTouche. (2008 ) . The Budget-Building Book for Nonprofits: A Step-by-Step Guide for Managers and Boards (2nd ed . ) San Francisco: Jossey Bass.
- A weekly Resource Center, which provides carefully tailored readings and other resources
- “Studio” activities offer opportunities for new and experienced practitioners to cultivate practical skills
- Original case studies and problem-based learning activities
- In-depth weekly discussions on the real-life challenges and opportunities of financial management
- A small class size generally limited to 25 participants
Who Should Enroll
Course topics and learning activities are specifically targeted to decision-makers and managers who are not currently engaged in finance positions as well as those who are looking for a refresher. This course requires the participant to have basic literacy with spreadsheets (such as Excel).
This is an instructor-facilitated course delivered entirely online. It is highly interactive and requires active participation on discussion boards and completion of assigned projects. There are no real-time class meetings. Students work at times that are convenient for them within the weekly schedule of activities. We estimate spending an average of 8 – 10 hours per week on each Certificate in Nonprofit Management course. The time commitment will vary depending the individual’s input, needs, and personal study habits. For this reason, we highly recommend students participate in no more than two CNM courses at a time.
Note: This is a tech-enhanced course that requires access to Blackboard, a course management system used by UIC. In order to complete registration, you must submit proof of identity to secure your unique NetID (username).
Contact Hours: 40
|November 1 – December 5, 2018|
|Course Fee: $550|
|Instructor: Maggie McCoy|
|Registration Deadline: Monday, October 29, 2018 at 11:59pm|