1. Introduction

  1. Charles K. Coe

Published Online: 9 MAR 2012

DOI: 10.1002/9781118386064.ch1

Nonprofit Financial Management: A Practical Guide

Nonprofit Financial Management: A Practical Guide

How to Cite

Coe, C. K. (2011) Introduction, in Nonprofit Financial Management: A Practical Guide, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118386064.ch1

Publication History

  1. Published Online: 9 MAR 2012
  2. Published Print: 13 JUN 2011

ISBN Information

Print ISBN: 9781118011324

Online ISBN: 9781118386064

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Keywords:

  • board of directors;
  • chief executive officer (CEO);
  • revenue;
  • staff

Summary

There are three types of nonprofits: charity, foundation, and other. Nonprofit governance and management rests on three legs: the Board of Directors (Board), the chief executive officer (CEO), and the staff. Board members nominate and elect fellow members. The second leg is the CEO, either volunteer or paid, who carries out the Board’s policies. The third leg of the stool is the staff. Many nonprofits have an all- or mostly all-volunteer staff. Nonprofits have three main revenue sources. The main revenue, fees for services and goods, includes items such as Medicare and Medicaid reimbursements, ticket sales and tuition payments. The second principal revenue source, private contributions, includes grants and contributions from foundations, individuals and corporations. Other revenue sources are government grants, investment, and other income.

Controlled Vocabulary Terms

board of directors; Chief executive officer; Nonprofit governance; Volunteers