North Park University

SBNM5350

Review Questions, Week #1

1. What are the characteristics of a nonprofit organization in terms of financial management?

2. What are by-laws and Articles of Incorporation?

3. What is a policy manual? Who develops it?

4. What are some primary financial objectives according to the Lilly Study cited in Zietlow et.al?

5. What are the author's recommended financial objectives?

6. Describe liquidity, what are the key elements and importance?

7. What are the standards for liquidity in the nonprofit sector?

8. Describe the challenges that nonprofit face with cash flow?

9. What is financial governance?

10. What are the elements of fiscal oversight?