Budgets and Financial Reports
Organizational leaders must possess critical financial and fiscal skills to manage operations. They must be proficient at reading and understanding budgets to make informed decisions. With information provided in organizational budgets and tax forms, leaders can manage the financial health of an organization.
Historically, annual reports have provided financial information in relationship to funding sources and program outcomes. Form 990 provides more detailed information to the Internal Revenue Service. According to Arizona State University Lodestar Center for Philanthropy and Nonprofit Innovation (2010), “Form 990 is an annual reporting return that most federally tax exempt organizations must file with the Internal Revenue Service (IRS). It provides information on the filing organization’s mission, programs, policies, compensation, and finances.” In this Assignment, you will review the annual report along with the Form 990 reports of an organization of your choice.
For this Assignment, choose a nonprofit organization of interest. Review the most recent annual report of the organization. Next, access GuideStar. Access and review the last 3 years of Form 990 reports for the organization you have selected.
The Assignment (3–5 pages):
Based on the financial information of the organization you selected, provide the following:
A brief description of the mission of the organization selected
An overview of the budget and financial status of the organization
At least three insights gained from your research of the organization’s financial information
Citations from current, credible resources that support your views
Support your Assignment with specific references to all resources used in its preparation. Resources used for assignments should be current and published within the last 5 years.
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