TITLE : How to read Nonprofit Financial Statements
CITY : Chicago , IL
DATE : Tuesday, June 22, 2010
TIME : 8:30 AM - 12:00 PM
PRICE : $ 110.00
How to read Nonprofit Financial Statements
 

Board members and nonprofit executives are required by law to protect their organization's fiscal health. Boards and staff traditionally exercise this responsibility by putting together and approving the annual budget. However, a board can only approve the budget if it receives clear, intelligible, accurate and timely financial reports. The problem is that even when these reports are provided, they are difficult to decipher. This course will develop your ability to interpret the major financial accounting statements that are used by nonprofit organizations. You will gain an understanding of the types of financial statements that are used by non-profit organizations, and how they differ from for profit financial reporting.

This session will explore the following topics in detail:
- The documents and financial statements included in a nonprofit organization's financial report
- Financial ratio analysis, its objectives and limitations
- The information found in non-profit statements of financial positions, statement of activities and statement of cash flows

After attending this session, you will understand the power and limitations of accounting information in assessing financial performance and decision-making.

This session is intended for Board Members, Executives and Senior Staff.
Speakers for this session:

Margaret McCoy
Director, Financial Consulting Services
Lumity

Maggie has been involved in financial management for 30 years. In her current position, she is responsible for helping nonprofits deal with financial and strategic challenges. Issues range from desk-level accounting to financial planning to board-level governance and strategy. Previously, as an independent consultant with her own firm, Maggie was responsible for helping her clients with a wide range of operations oriented projects which frequently addressed internal efficiency and effectiveness. Before that, she worked in a variety of roles at large financial services entities where she was responsible for financial planning and operations, including serving as divisional CFO and strategic planning assignments. Maggie currently serves in various board leadership roles for Chicago-area nonprofits. These include a women's business group, a local scholarship foundation and a neighborhood issues group. She earned an undergraduate degree in Liberal Arts from The University of Iowa and a MBA in Finance from The University of Chicago. She is a member of the Illinois CPA Society and Society of Financial Services Professionals.

 

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