Murray Dropkin and Allyson Hayden, The Cash Flow Management Book for Nonprofits: A Step-by-Step Guide for Managers, Consultants, and Boards. Jossey-Bass, 2001.
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Referenced in: Church Finance
LifeandLeadership.com Summary
This is a companion volume to Dropkin, Halpin, and La Touche, The Budget-Building Book for Nonprofits. Neither text is written exclusively to churches, but this one addresses an issue not covered extensively in the typical church budgeting manual – cash flow. The larger the church, or the more complex the budget (e.g. churches with Christian schools, sponsoring large domestic or international missions, receiving income from several sources such as books and recordings), the more valuable this information.
The book is divided into three sections. Part One is an overview of cash flow principles and process. Part Two discusses the use of policies, forecasts, budgets, strategies, and technology to improve cash flow management. Part Three covers specific cash flow management strategies for various types of income – program services, sales of inventory, contributions, grants, special events, real estate rental and sales, interest/dividend/royalty. Part Four looks at how to organize all of these concerns into one plan. Part Five offers practical resources and forms.
From the Publisher
Cash flow management is key to the financial health and overall success of a nonprofit organization. But many nonprofits address cash flow issues when only there is a problem, missing the opportunity to use cash flow as the powerful strategic tool it has the potential to be.
In The Cash Flow Management Book for Nonprofits, financial management experts Murray Dropkin and Allyson Hayden present a powerful, strategic tool for the financial management of nonprofit organizations no matter how large or small. The authors show nonprofit leaders how to create a proven plan for cash flow management and develop effective, nuts-and-bolts strategies for day-to-day and long-term financial planning of any nonprofit organization. This nuts-and-bolts resource outlines the basics of cash flow management, explains the various revenue streams, and helps readers to identify their primary revenue sources and corresponding cash flow management strategies. In addition, this practical workbook is filled with to-do lists, sample forms, worksheets, schedules, policies and procedures, checklists, and more. Using the book’s ideas and recommendations, any nonprofit can learn how to increase its income, improve its financial performance, and manage the resources that will help realize its mission.
Editorial Reviews
“Murray Dropkin and Allyson Hayden have developed more than a practical how-to book on the critical issue of cash flow management. They provide comprehensive guidance for the financial expert and a context to enable the whole organization to develop a ‘cash flow awareness.’” – Frances Hesselbein, chairman of the board of governors, the Peter F. Drucker Foundation for Nonprofit Management
“Positive cash flow is the life-blood of any organization, and The Cash Flow Management Book for Nonprofits is an essential guide to charting a course for success.” – Ron Werthman, vice president, finance/treasurer and CFO, Johns Hopkins Health System, The Johns Hopkins Hospital
“The Cash Flow Management Book for Nonprofits takes the reader well beyond cash into the operational processes that generate it. The book reflects extraordinary insight into the real-life opportunities and pitfalls associated with managing in nonprofit organizations.” – David H. Freed, senior vice chancellor and chief operating officer, The City University of New York
“This book provides every nonprofit, regardless of size or focus with useful strategies for enhancing their bottom line through effective cash flow management.” – Carol Wolff, president, the National Area Health Education Center (AHEC) Organization
About the Author
Murray Dropkin, CPA, M.B.A., is president of CMS Systems, Inc. a consulting firm that specializes in helping clients in the nonprofit and for profit sectors improve their operational and financial operations. Dropkin is also managing partner of Dropkin & Company, Certified Public Accountants. He has experience in accounting, auditing, taxation and management consulting for government, commercial, and nonprofit organizations. He is the coauthor of The Budget-Building Book for Nonprofits (1998, Jossey-Bass).
Allyson Hayden, M.S.W., C.S.W., is a senior consultant, editor, and writer for CMS Systems, Inc. She has fifteen years of experience writing for commercial and professional magazines, newsletters, and other publications in the areas of organizational development, health, medicine, fundraising, accounting, sociology, and psychology.
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