Financial Oversight, Budget and Strategy

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3.0 Credits

This CPE course reviews procedures and example policies that help maintain good governance and financial oversight by a not-for-profit (NFP) board of directors. It covers basic organizational structure and the responsibilities of a typical NFP finance committee, investment committee, and audit committee that work in partnership to ensure proper stewardship of the NFP's resources.


  • Distinguish between the roles and responsibilities of a typical NFP's board and management with respect to financial oversight;
  • Identify strategies to analyze the financial health of an NFP;
  • Recall key accounting policies unique to NFPs;
  • Recognize steps to prepare and monitor a successful budget for NFPs; and
  • Recall the principles of ethical fundraising and responsible stewardship of contributed resources.

Major Topics

  • NFP governing body's purpose, role and responsibility
  • IRS Form 990
  • Written policies and procedures for NFP boards and committees
  • Uniform Prudent Management of Institutional Funds Act (UPMIFA)
  • Ratio analysis
  • Accounting policies
  • Budgeting
  • Types of budgets
  • Operating reserves
  • Dashboards
  • Responsible fundraising
  • Risk management

Designed For

CPAs involved in NFP financial oversight as well as staff and board members at small- and medium-sized NFPs
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