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Writing an analysis on non profit organization
An assessment of not for profit organisations
Writing an analysis on non profit organization
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A not for profit organization is a corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive (Legal, 2013).” There are immense community benefits as a not-for-profit generally accepts everyone regardless of ability to pay. Nonprofit organizations are granted tax-exempt status which helps them to provide services to the public and are expected to be effective managers of their finances as well as being efficient (Financial Management, 2010). In doing so, they can gain exemptions from federal and state incomes taxes and have the ability to solicit tax-deductible contributions (Financial Management, 2010). Organization must follow legal financial requirements and always adhere to sound accounting principles that produce reliable financial information (Financial Management, 2010). Background There are several types of not-for-profit organizations including charitable hospitals, research institutions, educational hospitals, and public health programs. Charitable hospitals provide basic, extensive and emergency health care, but are exempt from federal, state and local taxes, and raise money from the charitable contributions of donors (Litten, et al, 2010). Financial assistance policy needs to be clear and concise and charges should be limited as the majority of the people will be poor and needy. Billing and collection policies should include ‘reasonable efforts’ to determine assistance eligibility (Litten, et al, 2010). Educational hospitals provide clinical education and training to student doctors, nurses and other health care professionals, as well as traditional basic and emergency care and testing and lab services (Medical Dictionary, 201... ... middle of paper ... ...http://managementhelp.org/businessfinance/index.htm?PHPSESSID=900e2200ce5dd66bf5c5a7252 Medical Dictionary. (n.d.). Retrieved February 24, 2013, from http://medical-dictionary.thefreedictionary.com/teaching+hospital National Institutes of Health (NIH). (n.d.). National Institutes of Health (NIH). Retrieved February 28, 2013, from http://www.nih.gov/ Parrino, R., Kidwell, D. S., & Bates, T. W. (2011). Fundamentals of Corporate Finance. Hoboken, NJ: John Wiley & Sons. (Original work published 2009) What is Public Health?. (n.d.). What is Public Health?. Retrieved March 1, 2013, from http://www.whatispublichealth.org/ Zietlow, J., & Seidner, A. (n.d.). Cash & Investment Management for Nonprofit Organizations. Bizknowledge Info. Retrieved March 28, 2014, from http://www.bizknowledge.info/My-books/Wiley-Cash-%26-Investment-Management-for-NonProfit-Organizations.pdf
Worth, M. (2014). Nonprofit management: Principles and Practice. 3rd Ed. Thousand Oaks, CA: SAGE Publications, Inc.
Due to NPO MCCC often have controversial objectives related to the offering of services or intangible products, non-profit organizations MCCC may have non-financial indicators that measure the quantity and quality of services, non-profit organizations have difficulties in developing quantitative techniques helpful for evaluating the performance of the organization. BSC potentially balance financial and non-financial activities, for example, MCCC are willing to establish positive word of
Worth, M. (2014). Nonprofit management: Principles and Practice. 3rd Ed. Thousand Oaks, CA: SAGE Publications, Inc.
The nonprofit sector in America is a reflection some of the foundational values that brought our nation into existence. Fundamentals, such as the idea that people can govern themselves and the belief that people should have the opportunity to make a difference by joining a like-minded group, have made America and its nonprofit sector what it is today. The American "civil society" is one that has been produced through generations of experiments with government policy, nonprofit organizations, private partnerships, and individuals who have asserted ideas and values. The future of the nonprofit sector will continue to be experimental in many ways. However, the increase of professional studies in nonprofit management and the greater expectation of its role in society is causing executives to look to more scientific methods of management.
The nation has approximately 1 million nonprofit entities of various sorts and hospitals have long been a traditional service provider in the nonprofit sector (Williams & Torrens, page 185). Nonprofit entities are generally exempt from most taxes at the federal, state, and local levels, including income and property taxes (Williams & Torrens, page 185). These facilities are governed by a community-based board that has ultimate authority for running these entities. Sponsorship for a nonprofit can come from various organizations, unlike other hospitals with traditional religious sponsorship (Williams & Torrens, page 185). A small percentage of the nation’s hospitals are operated by for-profit businesses (Williams & Torrens, page 186).
Throughout this course my paradigms of what a nonprofit organization have been challenged as we have considered the major aspects and leadership challenges of these organizations. Having worked with for profit and nonprofit organizations in the past I was quite confident that I had a clear understanding of the distinctions between the two. I had worked in organizations that regularly used volunteers to accomplish their mission and felt that the management of these processes were simplistic. Despite these misconceptions, I found that I was able to learn a tremendous amount through our reading, peer interactions, group projects and equally important, my volunteer service as part of this course.
... Capital, Corporation Finance and the Theory of Investment", The American Economic Review, vol. 48, no. 3, pp. 261-297.
Supplemental Nutrition Assistance Program (SNAP). (n.d.). Facts About SNAP. Retrieved October 28, 2013, from http://www.fns.usda.gov/snap/facts-about-snap
The Candemn coalition is an example of excellent non-profit organization. I was amazed of how focused and driven the organization
Nonprofits are organizations whose income is not used for the benefit or gain of stockholders, directors or any other persons with an interest in the organization. The nonprofit sector is very diverse; it includes tax-exempt organizations that are educational, scientific and cultural, as well as civic and social welfare organizations. Nonprofits usually work to advance a cause or interest or to accomplish some good work. Some job seekers overlook nonprofit organizations, assuming that opportunities are limited and salaries are uniformly low. This is not true.
Nonprofit and for-profit businesses have multiple similarities and differences. For-profit organizations are very different from non-profit organizations because the driving goal of a for-profit organization is increasing its revenue whereas a non-profit organization will not go out of business if it suffers financial loss or does not have a bottom-line. The marketing process also differs, with the biggest differentiating factor of profit marketing is to encourage customers to buy and while the nonprofit marketing purpose is usually to encourage people to give. This means that the return on investment differs between the two. Although the principles of marketing remain the same, some of the methods must, of necessity, be different. Because of the intense involvement in the community as well as support from government, agencies non-profit firms should not compete in the same markets as for profit companies nor in anyway position their organization in any way to give the impression that their efforts could be commercial based (Nelson, 2002).
Ross, S.A., Westerfield, R.W., Jaffe, J. and Jordan, B.D., 2008. Modern Financial Management: International Student Edition. 8th Edition. New York: McGraw-Hill Companies.
Berk, J., & DeMarzo, P. (2011). Corporate finance: The core, second edition. (2nd ed.). Boston, MA: Prentice Hall.
Brealey, Richard A., Marcus, Alan J., Myers, Stewart C. 1999, Fundamentals of Corporate Finance, 2nd edn, Craig S. Beytien, USA.
Block, S. B., & Hirt, G. A. (2005). Foundations of financial management. (11th ed.). New York: McGraw-Hill.