Customer Reviews

Financial Planning for Nonprofit Organizations

5 star:		(1)
4 star:		(2)
3 star:		(0)
2 star:		(0)
1 star:		(0)

 

 

[This review is actually for the Second Edition of this book which I read at B&N on Saturday, February 09, 2008. See ISBN 0471715271.]

This is a gem of a book. I have a financial background, so it was a pretty easy read for me. Like the author I too hold the CPA designation. But unlike the author I don't use that designation professionally any longer. The book has the following 8 chapters:

1. Introductory concepts
2. Structuring the organization for fiscal strength
3. Financing the dream
4. Budgeting
5. Asset management
6. Nonprofit accounting
7. Special financial tools
8. Obtaining and maintaining tax-exempt status

For two years not too long ago I worked as a consultant to nonprofits that needed help with multi-million-dollar capital campaigns. The nonprofit world was new to me then, except for the time I spent in Washington DC a number of years ago as a staff auditor auditing trade associations for E&Y. As a result of my fundraising experiences I found it necessary to read lots of books about aspects of nonprofits. I read books on nonprofit management, nonprofit fundraising, nonprofit capital campaigns, nonprofit endowment campaigns, major gifts, grant proposals and writing, and nonprofit strategic planning.

I didn't read nonprofit books on nonprofit accounting, bookkeeping, or financial planning since I basically knew that stuff. But some people who are not well versed in such subject matter would do themselves a favor to get a copy of Ms. Blazek's book on nonprofit financial planning if they want a well written and well outlined book on the subject. CEOs and CFOs of nonprofits should be adept at their organization's (1) operations, (2) financial planning, and (3) fundraising efforts and abilities. By getting a copy of this book the nonprofit executive can get a good handle on the second leg of the three-legged stool. 5 stars!

This is a pretty useful introductory book for all managers of a non-profit. Since the entire management should be involved in establishing the budget, they should be well-versed in the material covered. In particular, the accounting for non-profits was good and explained in a way that almost anybody can understand.

This book would be good for those wanting to start a non-profit and those new to the non-profit world. As someone who's been a non-profit accountant for several years, there wasn't much new to me.