Certificate in Nonprofit Financial Management

February 21 - June 20, 2019

9:00 am – 4:30 pm   |   $1500
* Eligible for AmeriCorps education award funds and Hazlewood Act tuition exemption program

Overview

The Certificate in Nonprofit Financial Management is a comprehensive and systematic learning opportunity, covering the tools, frameworks and concepts necessary for effective nonprofit financial management.

Especially useful for:

  • Current financial management staff seeking further education or a refresher;
  • Aspiring professionals seeking competence and professional opportunities in this area;
  • Program staff seeking understanding of this critical organizational function;
  • Individuals looking to make a career change and wanting a comprehensive and systematic way to acquire the competencies needed to be an effective nonprofit financial manager;
  • Volunteer leaders seeking greater understanding of the financial management function.

This Certificate builds on the success of Center for Nonprofits’ other Certificates in Nonprofit Leadership & Management, Grant Writing, Volunteer Management, and Effective Fundraising, with their combined alumni of about 1000 individuals.  

The curricula is based upon conversations with nonprofit financial management practitioners and a review of professional literature.

Upon completion, participants will earn 4.9 Continuing Education Units (CEUs) from Austin Community College. These may be eligible for use in meeting professional certification requirements.

Session 1 - Review of Key Financial Concepts & Financial Statements

Introduction / Review of Key Financial Concepts & Financial Statements

  • What do the numbers tell us about the organization?
  • What are the “politics” and “ethics” of financial management?
  • Financial Management Responsibilities
  • Keeping financial records
  • Implementing a budget and anticipating financial problems
  • Safeguarding financial assets and providing effective internal controls
  • Complying with government reporting and regulatory requirements
  • Communicating financial information to professional and volunteer leadership
  • Accounting Terms and Concepts
  • Differences between nonprofit and for-profit organizations and their financial management
  • Cash v. Accrual
  • Fund Accounting and Internal Financial Reporting
  • Fixed Assets and Depreciation
  • Investment Income, Gains and Losses, and Endowment Funds
  • Contributions, pledges and noncash contributions
  • Accounting issues related to fundraising
  • Overview of key financial statements
  • Key indicators of financial success or distress
  • Who decides which accounting basis to use (e.g., Cash, Tax, Accrual, other)?

Facilitated by:

Russell Smith, Executive Director, Refugee Services of Texas

Session 2 - Governance Fiduciary Responsibilities

Governance Fiduciary Responsibilities

  • Legal and other Roles, responsibilities, authority and expectations of key financial management actors, including but not limited to:
    • CEO/ Executive Director
    • Treasurer
    • Board of Directors
    • Finance, Audit and other committees
    • Others including internal staff
  • Staffing the financial management function
  • Effective communication of financial information in a fashion that it can be readily understood and used by appropriate professional and volunteer leadership
    • What information does each actor need to fulfill their role and what information in what form assists them in doing so
  • Integrating financial awareness and competency throughout the organization

Facilitated by:

Holly Raymond, Senior Vice President of Finance, Upbring (The New LSS)
Jay Scheumack,CFRE, CPA, CFO, LifeWorks

Session 3 - Accounting and Reporting Guidelines

Accounting and Reporting Guidelines

  • Guidelines for different types of nonprofits:
    • Volunteer Health and Welfare
    • Religious entities
    • Government
    • Colleges and Universities
    • Heath Care
  • Overview of Rule Making Entities
    • Financial Accounting and Standards Board (FASB)
    • Generally Accepting Accounting Principles (GAAP) Hierarchy
    • Future Trends in Nonprofit Accountability

Facilitated by:

Shannon Andre, Vice President of Austin Market, Brown, Graham & Company

Session 4 - Controlling the Nonprofit

Controlling the Nonprofit

  • Budgeting
  • Cost allocations
  • Internal Controls
  • Fraud Prevention
  • Independent Audits
  • Investments
  • Risk Management
  • Whistleblowing & Sarbanes Oxley

Facilitated by:

Gail Romney, Director of Finance, Ballet Austin
Holly Raymond, Senior Vice President of Finance, Upbring (The New LSS)

Session 5 - Audits

Audits

  • Purpose and Contracting Process
  • Types of Financial Reviews and Audits
  • Audit Standards
  • Auditing Standards Board (AICPA)
    • Office of Management and Budget
    • Management Letters
  • What to look for in an audit/ Red flags
  • Financial Statements and disclosures within audit report
  • Auditor Opinion Options
  • Board and Management Review of Audit
  • Politics of the Audit:
    • Auditor – CFO relationship
  • Special Issues in Auditing
    • Grant Cost Accounting

Facilitated by:

Tracie Stookesberry, Vice President of Finance, YMCA of Austin
Shannon Andre, Vice President of Austin Market, Brown, Graham & Company

Session 6 - Issues Arising from Government Funding and Regulation

Issues Arising from Government Funding and Regulation

  • Managing Matching Requirements
  • Annual Information Forms (IRS 990)
  • Payroll Taxes
  • Audits of Federally Funded Programs
  • Special issues arising from different governmental relationships including but not limited to state and federal entities

Facilitated by:

Don Klein, former CFO, Communities in Schools Central Texas

Session 7 - Accounting Issues Related to Fundraising and Overall Ethical Considerations

Accounting Issues Related to Fundraising and Overall Ethical Considerations

  • What are ethical issues affecting or guiding nonprofit financial management
  • Accounting issues related specifically to fundraising and entity’s tax exempt status
  • Unrelated Business Income
  • Stewardship

Facilitated by:

Mari Ben Ramsey, MariBen Ramsey Nonprofit and Philanthropy Consulting