Reading Financial Statements: Financial Management Series

Speaker Cheryl Black,
DREAMCO Cheryl Black has over 22 years of experience working in multiple roles with non-profit organizations. During her career, she has served as a volunteer, board member, fundraiser, donor, independent auditor, consultant, seminar speaker, controller and executive director. Cheryl’s areas of expertise include budgeting and audit supervision, financial management of ...


DREAMCO

Cheryl Black has over 22 years of experience working in multiple roles with non-profit organizations. During her career, she has served as a volunteer, board member, fundraiser, donor, independent auditor, consultant, seminar speaker, controller and executive director.


Cheryl’s areas of expertise include budgeting and audit supervision, financial management of capital construction projects (including bond issues), investment activity analysis, payroll and fringe benefits administration, and facility operations supervision. She has served as Executive Director with Austin Humane Society, Director of Finance and Administration with Austin Museum of Art, Vice-President-Administration and Finance for the Greater Omaha (NE) Chamber of Commerce, and Controller of the Joslyn Art Museum, Omaha, NE. Board positions have included Finance Committee for Gateway Community Church, Treasurer for Texas Association of Nonprofit Organizations, Vice-President of Finance for the Emmy Gifford Children’s Theater and Treasurer of the Heritage-Joslyn Foundation. Her community service included grant reviewer for the AmeriCorps State Grant Competition, President of the Montclair Parent Teacher Organization-Millard School District, and Chair and Treasurer positions on the governing board of Boy Scouts of America, Troop 429. As an auditor with Touche Ross and Co., she focused on non-profit organizations.


Ms. Black holds a B. S. in Business Administration from the University of Nebraska -Kearney and a State of Nebraska CPA certificate. She is a member of the AICPA and NE Society of CPA’s. Her extensive background in day-to-day running of the administrative end of a non-profit helps her impart the knowledge needed to avoid the pitfalls that will invariably happen. As a board member, she can give a perspective from the broader overview a nonprofit needs to plan its future. And as an auditor, she knows the ins and outs of how best to appear to the outside world.



Full Description
This session is part of our Financial Management Showcase Series.  It is one of five sessions that an be taken/purchased individually or as a series at a reduced cost.  This session is free.  The other sessions in the series are $45 individually or $150 for all five. 
 

Being part of a nonprofit organization provides many rewards, both individually and communally. However, too often a nonprofit organization’s lifespan is cut short because of finances, sometimes leaving questions of “why did this happen?” or “how did we get here?”

 

A nonprofit organization’s financial health depends on precise execution of the key components of an annual operating cycle. This series is an in-depth exploration of the major components.

 

READING FINANCIAL STATEMENTS

You don’t have to have a degree in accounting to be able to read and understand Balance Sheets and Income Statements. In this session you will learn –

  • which financial statements are required of nonprofit organizations
  • how each of these financial statements fit together to give you a total picture of your organization
  • how to draw conclusions and/or list questions for management based on analysis (a class exercise)

 

BUDGETING (4/22)

Essential to the success of the long range strategic plan for your organization, is implementing a strong annual operating budget. In this session you will learn –

  • several examples of how successful nonprofit organizations approach putting together a budget
  • the importance of involving the entire staff and board in the budgeting process
  • how to allocate overhead expenses to your nonprofit organization’s programs
  • hands-on practical budgeting by participating in a class exercise

 

AUDIT REPORT REVIEW (5/13)

It is imperative that a nonprofit organization’s books and records can be relied on as accurate and transparent to donors, lenders, and service based clients. That is accomplished by retaining an independent certified public accountant to perform an annual audit. In this session you will learn –

  • the difference between a compilation, review, and audit
  • how to prepare your nonprofit organization to be “audit ready”
  • the importance of internal controls
  • to read the various sections of an audit report and its accompanying management letter

 

IRS Form 990’S (6/3)

The Internal Revenue Service requires nonprofit organizations that meet certain criteria to file an annual information return. In this session you will learn –

  • the rules of who, when, and where to file
  • how to break down expenses into three functional areas
  • the new reporting rules and form changes for reporting year 2008
  • UBIT (Unrelated Business Income Tax) filing requirements

 

INTERNAL CONTROLS (6/24)

Because of corporate wrongdoings over the past several years, review of an organization’s internal controls has become an integral part of compliance reporting. Nonprofit organizations are included in this heightened scrutiny. In this session you will learn –

  • how internal controls can actually make your nonprofit organization stronger
  • the importance of segregation of duties
  • how to put together financial policies and procedures
  • the guidelines to follow pertaining to document destruction decisions

 

This series will leave you with a comprehensive grasp of how to develop your nonprofit organization’s financial health, thus supporting the life of your mission and allowing you to better facilitate the efforts of your volunteers and employees. Don’t lose sight of your mission by losing control of your finances! Enroll today!

 

 

 
TANO members are extended a 10% discount on the individual sessions ($40.50) or the entire Financial Management series ($135). 
If you are interested in registering for the entire series for $150 please contact Candyss Bryant at 512-223-7051. 
 
 
Organizer Neelam Noorani

nnoorani@austincc.edu

When?

Wednesday, Feb. 18, 2009
9 a.m. - 12:30 p.m. US/Central

How Much?

Event has ended

Where?

Austin Community College Highland Business Center -- 103.6
5930 Middle Fiskville Road
Austin, TX 78752
USA


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