Grantwriting Beyond the Basics: Understanding Nonprofit Finances, Book 2

Full citation: Wells, Michael. 2006. Grantwriting Beyond the Basics: Understanding Nonprofit Finances, Book 2. Portland: Portland State University Continuing Education Press.

Saturday, January 14, 2012

Contributed by Norman Olshansky

If you are a volunteer leader or work within the nonprofit sector you may, like me, have been somewhat overwhelmed when you were first exposed to nonprofit finance and accounting.  It tends to be much more complicated than most people think and is different in many ways from what we typically find in ordinary for-profit businesses. 

Michael Wells provides a very valuable overview of nonprofit finance, accounting, and budgeting. While the book is written as part of a series for grant writers, it is also very applicable to others interested in the subject.   He presents very technical subjects in a way that clearly delineates financial reporting in relationship to management reporting and the differences between the two.  He provides extensive samples of financial statements with explanations, taking into account the differences based on the size of the nonprofit.  For grant writers the book has several additional sections of added value relating funders and grant management.

The book covers financial reporting , management reports, audits and 990’s.  It also outlines the unique differences between financial reports and accounting for non profits, government, public foundations and private nonprofit foundations.

The appendix, glossary and extensive index at the end of the book are also very helpful resources.

Personally, I think the book will have more value to readers who have had prior practical exposure to the subject through involvement within a nonprofit, even if that exposure has only been on an introductory level.  The material is presented in too advanced a manner, in my opinion, for those with no practical prior exposure to the topic.    The part of the title that says “Beyond the Basics” is applicable.   

Books on accounting are seldom exciting to read but can be very informative.  Wells has provided the nonprofit sector with a unique, very helpful resource and educational tool with the publication of “Understanding Nonprofit Finances”. 

Where to order this book online: http://www.amazon.com/gp/product/0876781199/ref=as_li_ss_tl?ie=UTF8&tag=cvfundraising-20&linkCode=as2&camp=1789&creative=390957&creativeASIN=0876781199
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Norm is the co-editor of YOU and Your Nonprofit: Practical Advice and Tips from the CharityChannel Professional Community.

Forty-three contributing authors at the top of their game share their hard-won expertise in this easy-to-read, down-to-earth book. In his foreword, Bob Carter, Chair-elect, Association of Fundraising Professionals (AFP), writes, “This is surely the book I wish I had decades ago.” The contributing authors cover a variety of subjects. You will learn about planning issues relating to governance, fundraising, administration and marketing. You will learn about leadership, and other topics as well. The editors’ goal is for you to enjoy reading about nonprofit management, leadership and fundraising and in the process learn ways to add value to your own work as someone who is, or will be, engaged in the nonprofit sector.