...On Nonprofit organization Submitted To Ali Mohammad Kawser Lecturer Department of Marketing University of Dhaka Submitted By Galaxy MBA 13th Batch Section: A Department of Marketing University of Dhaka Date of Submission: May 19, 2012 University of Dhaka GROUP PROFILE OF GALAXY Name | Roll | Md. Rayhan Uddin | 041 | Md. Maksed Ali | 079 | Chanchal Das | 147 | Md. Suman Miah | 153 | Md. Manik Uddin | 159 | Moklesor Rahman | 179 | Md.Humayun Rashid Bhuiyan | 135 | Ten non profit organizations in Bangladesh: 1) Government of Bangladesh 2) National University 3) Abahoni Limited 4) Anjuman Mofidul ISslam 5) DESA 6) DESCO 7) WASA 8) Quantum Method 9) ASA 10) Action aid Bangladesh Introduction: A nonprofit organization is formed for the purpose of serving a public or mutual benefit other than the pursuit or accumulation of profits for owners or investors. "The nonprofit sector is a collection of entities that are organizations; private as opposed to governmental; non-profit distributing; self-governing; voluntary; and of public benefit" (Solamon 10). The nonprofit sector is often referred to as the third sector, independent sector, voluntary sector, philanthropic sector, social sector, tax-exempt sector, or the charitable sector. Non-profit organizations play a major role in all nations. Non-profit organizations do contribute in several areas of society and economy without any profit motto. In modern...
Words: 8214 - Pages: 33
...| Internal Auditing in Not-For-Profit Organizations | TABLE OF CONTENTS ABSTRACT: 2 INTRODUCTION 2 SECTION I: CORPORATE GOVERNANCE 3 1. Corporate Governance Reforms Relevant to NPOs 3 2. Audit Committees of NPOs 4 SECTION II: RISK MANAGEMENT 6 1. Absence of Risk Management in NPO 6 2. Reasons for Risk Management in NPO 7 3. Process of Risk Management in NPO 9 SECTION III: INTERNAL CONTROLS 10 1. An illustrative example 10 2. Good Internal Controls 11 3. Strengthening Internal Controls 12 CONCLUSION 14 ABSTRACT: This paper discusses internal auditing in not-for-profit organizations (NPOs). Specifically, our goal is to identify the role of the internal audit in NPOs by focusing on key areas such as corporate governance, audit committees, risk management and internal controls in NPOs. We will look at corporate governance reforms relevant to NPOs, including provisions of the Sarbanes-Oxley Act that would be applicable to NPOs and some important attributes of the audit committee such as independence of members. We will highlight the role risk assessment plays in NPOs, the reasons to have a risk management function in NPO and the process of risk management. To finish, a focus will be made on internal controls as they are important for all organizations including NPOs for accountability motives. Strong internal controls can help NPOs achieve their mission. Overall, our findings conducted to the conclusion that internal auditing function is very important...
Words: 4024 - Pages: 17
...Leadership in Non Profit Organizations Institution Name Date Introduction It is evident that nonprofit organizations have proved to be indispensable in improving the vitality of communities in the current society. They enhance the quality of life, reinforce democracy and exemplify societal values. The purpose of this paper is to explore the foundational things that are necessary for leadership development in nonprofit organizations, to develop insights to avoid making mistakes in that leadership model, and to correlate Jazz music and leadership. Leadership in the nonprofit sector revolves around the fundamental values of transparency, accountability, strategic planning, quality governance, commitment, and stewardship of human and financial resources. Nonprofit organizations are faced with a legal and ethical obligation to embrace transparency and accountability in all their operations. This implies that they must openly convey information to the pubic concerning their objectives, activities, decisions and accomplishments. By doing so, organizations build public trust and understanding and thereby establish a good reputation (Minnesota Council of Nonprofits, 2014). The significance of strategic planning in nonprofit organization leadership cannot be underestimated because it is imperative that a general direction is set to ensure that the mission is accomplished in the end. In addition to adopting a clear strategic plan, organizations must ensure that it is acted upon...
Words: 1036 - Pages: 5
...Parks (2009), it was 1900 since the emergence of non-profit organizations have started through the initiation of Arts and Culture Organization as it diversified its status from a profit-based system into a kind of philanthropic organization with tax incentives as the main instigation for the move. Through the years, the industry of non-profit organizations has been vastly engaged in different sectors of the society primarily to serve the general public. According to Peter F. Drucker, the “non-profit” institution neither supplies goods nor services not controls. Its “product” is neither a pair of shoes nor an effective regulation. Its product is a changed human being. The non-profit institutions are human-change...
Words: 806 - Pages: 4
...Executive Summary Nonprofit organizations (NPOs) play a major positive role in all economies and societies that they service. These organizations have helped millions of people around the world by providing a great deal of valuable assistance and support via educational, scientific, charitable, legal, and many other means. An NPO is “a group organized for purposes other than generating profit and in which no part of the organization's income is distributed to its members, directors, or officers” (law.cornell.edu). Types of NPOs include volunteer service organizations, public charities and schools, public clinics and hospitals, political organizations, legal aid societies, labor unions, churches, research institutes, professional and environmental associations, museums, and some government agencies (law.cornell.edu). Some of the purposes service for these organizations include working for social change, to help people help themselves, and to fight for the civil rights of others. NPOs are a vital part of our nation’s economy, as they not only provide much needed public services to all concerned citizens and inhabitants of the U.S., they also provide millions of jobs for nation’s workforce. This essay will discuss the application of financial management techniques in NPOs. A comparison and contrast of nonprofit and for profit organizations (FPOs) will be examined while focusing on the fundamental differences between the two. How NPOs and FPOs are affected by different laws that...
Words: 1823 - Pages: 8
...Non-Profit versus For-Profit Healthcare and Organizations In analyzing the characteristics in relation to nonprofit versus for-profit healthcare and organizations I found an interesting article from the Congressional Budget Office [CBO] (2006), which breaks down the ownership types of hospitals nationally. Based on 4,518 community hospitals, 58 percent are non-profit, 18 percent are for profit, and the remaining 24 percent are government owned hospitals. Non-profit hospitals were established for charitable purposes and tend to be larger, and are more likely to be teaching hospitals. They also are responsible and accountable to the communities they serve. They are governed by leaders of the communities they serve. Earnings received from the non-profit hospitals are reinvested to improve quality and care provided at the hospitals, and also invested in community programs, such as providing no fee or discounted fees to the uninsured and low income for health care services. Non-Profit healthcare organizations mission is to serve communities by providing healthcare without regard for a patient’s ability to pay. For-profit hospitals are legally responsible to their owners and stockholders and performance is based on profitability and the return on equity to its shareholders. Profits from earnings can be distributed to owners and stockholders. There are also tax treatment differences for the for-profit and non-profit hospitals. (CBO, 2006) The non-profit...
Words: 928 - Pages: 4
...Non-Profit Organization Management: The Holistic Highlights Non-Profit organization management is not very different from managing any discrete organization. A not so recent survey conducted by The National Center for Charitable Statistics states that there were over 1.5 million non-profit organizations in United States alone, in the year 2010. A footnote mentioned that this did not take into account those, whose income was less than $25,000. The above piece of trivia is just an indicative proof for the opening statement. While every non-profit organization has certain perks, and there are elaborate relaxations in context of taxation decrees applicable to such entities, the very large number indicates that every domain (well, we know each non-profit organization has its own domain of operations) still would have appreciable competition. But a chunk of Success lies in standing out. Identity and Branding Vision and Ideology When it comes to being an effective non-profit organization management: being very strict in its adherence and compliance with the ideology and vision of the organization at large is the cardinal rule of survival. No other organization or entity depends on branding and image as much as a Non-Profit Organization would ever do. The Vision of the organization is what classifies it, and sets its domain of operations. The Ideology and its vociferous publication of the same, is what creates the image and identity of the non-profit organization. Herein lays...
Words: 891 - Pages: 4
...The importance of culture to the success of non-profit organizations There are three different sectors of industry: private, public (government) and non-profit. The non-profit sector’s purpose is simple, no matter what type of business it is they serve to meet the needs the private and public sectors lack thereof (McDonald). Most non-profit organizations (NPO) are programs that cater to the community or serve people in order to improve the quality of life or are seeking social change. By being socially responsible of others nonprofits are breaking down barriers to build a better global community. Non-profits exist in almost every industry or line of work. Some popular ones are women’s rights, animal rights, environment awareness, health, and community development. When there is a cause and a group of people willing to work for it, a non-profit organization can be formed. They range in size, from a small local organization of just a few members, to nationally recognized organizations with several locations domestic and international. Non-profits are known for having unique cultures compared to for-profit and government organizations because there is some form of moral compass driving the purpose of the NPO versus the sole purpose to make money. Culture in the workplace is essential to the success of nonprofits because it lays the foundation for the direction of the organization based on similar beliefs and values and it is the determinant of the behavior or actions of...
Words: 2796 - Pages: 12
...INTERNAL CONTROLS AND FRAUD PREVENTION IN NON-PROFIT ORGANIZATION WRITTEN BY DAVID SANNI Designed to provide information on key areas that can strengthen the internal control system of VI-MID-ISLAND SERVICE (VIMS) Submitted To VANESSA OLTMAN Faculty of Management Vancouver Island University Nanaimo, BC, Canada (Nov/15/2012) Table of Content 1.0 INTRODUCTION 3 2.0 NATURE OF FRAUD IN CANADIAN NON PROFIT ORGANIZATION 3 2.1 TYPE OF FRAUD IN NON PROFIT ORGANIZATIONS 3 2.2 PERPETRATORS OF FRAUD IN NON PROFIT ORGANIZATION 4 2.3 IMPACT OF FRAUD TO NON PROFIT ORGANIZATION 4 3.0 COMPREHENSIVE APROACHE TO REDUCE FRAUD 5 3.1 UNDERSTANDING INTERNAL CONTROL 5 3.2 BENEFIT OF INTERNAL CONTROL 5 3.3 LIMITATIONS OF INTERNAL CONTROL 6 3.4 CONTROL MEARSURES IN PREVENTING FRAUD 6 3.5 SUMMARY AND CONCLUSION……………………….………………….8 4.0 REFERENCE…… ……………………………………………………………9 1.0 INTRODUCTION The Canadian non profit sector has one of the largest populations in the world, accounting for over 7% GDP and creating 2 million full time jobs for Canadians. Further discoveries was made that 78% Canadians donates money to non profit Organization irrespective of all walks of life and income bracket. These donations are received to address core issues...
Words: 2777 - Pages: 12
...FINAL PAPER — ON WHY ALL 3 SECTORS ARE BOUND TO WORK WITH EACH OTHER A question many people with business backgrounds have these days is whether the plural sector is really useful in the first place, and what’s its real purpose. Is it to focus on societal problems and try to resolve them, or to generate profits doing it, to involve the private sector or the public sector? My initial thesis can be read as follows: “Non-for-profit organizations have the responsibility to help the growth and sustainability of the industry they take part in, while working toward reducing inequality for the population. Profit seeking corporations should not be held 100% responsible to reduce inequality, as their main goal is to generate value to their shareholders.”...
Words: 280 - Pages: 2
...Non-for-profit organizations praise the virtues of active (dynamic), adaptive (Flexible), ethical, and charismatic leaders. Dan is that leader, as a……………………he creates a vision that motivates his employees and moves his organization toward its mission. Our Board members align themselves with the values, mission, and culture of our organization. NPWH is led by an experienced and efficient working group who came together to define a strategy that would improve, facilitate, and better coordinate the overall operations of organizations working in bringing internal displaced populations and refugees back home safely. NPWH’s executives possess substantial professional experience in their policy, program, or field of interest, and have a high level...
Words: 275 - Pages: 2
...About our outreach program The Azalea Youth Outreach and Referral Program’s goal is to empower our youth and focus on pro-active coaching and early intervention to address the youth and family issues through skill building, education, and advocacy. We reach out through the community, schools, churches, civic groups, social groups, and nonprofit organizations. The program promote efforts by its grantees to build relationships between our youth and outreach workers, their local communities, local schools, and social setting with homeless, troubled, low income youth. Grantees also provide support services that aim to coach youth into stable housing, daily living skills to prepare them for independence. It requires grantees to incorporate elements of the Positive Youth Development approach into their programs. PYD suggests that the best way to prevent risky behavior is to help young people achieve their full potential. Youth development strategies focus on giving young people the chance to exercise leadership, build skills and become actively involved in their communities. The Azalea Youth Outreach Referral Program (A.Y.O.P.) enables organizations around the Birmingham City and Jefferson county area to help young people get off the streets. The A.Y.O.P. is also designed to provide service to the community and change things in a positive way. We recruit volunteers of all ages as possible to get involved and help make a difference such as: ADOPT-A-COMMUNITY YOUTH NIGHT This is a program...
Words: 1287 - Pages: 6
...Other Activists, What They Are Doing Specifically For The Cause. Miracle Foundation- is a non-profit organization to help bring care to kids all around the world. What they do- Bring orphans into homes Give kids clean water and a great health care. Give scholarships to help them with an education. Helping Children Worldwide (HOW)-is an non-profit organization to kids. They have been founded since 2007. What they do- Give hope to kids one day that they will find a home. Give security abused. Children homes around the world. Empower-it is held by Neha Gupta and it started in 2005. Who has raised 1,000,000 dollars so far. What they do- Gave them an education Bought them clothing like shoes. Giving them toys. How can you get involved? Chapter 4 Introduction This part will tell you easy ways to help the world and other kids how to get help. You are a person to help the world so at least give it a shot to help people. You might not think you're lucky at all, but...
Words: 1096 - Pages: 5
...Financial Management in Non-profit Organizations and How It Compares to For-Profits Organizations are usually classified as either non-profit or for-profit. Business corporations are organized for-profit. While non-profits usually include associations, charities, and other voluntary organizations formed to further cultural, educational, religious, or public service objectives. Non-profits and for-profits do have some things in common. Both types of organizations attract individuals focused on maximizing income, minimizing expenses, and reaching their goals. While there are many similarities, non-profits and for-profits have many differences. The most fundamental difference between nonprofit and for-profit organizations is the reason they exist. A non-profit organization exists to provide a particular service to a community, while a for-profit organization exists primarily to generate a profit for the company’s owners and shareholders. A non-profit organization channels all of their income into services and programs aimed at their mission compared to for-profit organizations that distribute profits between owners, employees, shareholders and the business itself (Bottiglieri, Conway, & Kroleski, 2011). Financial management for non-profit organizations is similar to for-profit organizations in many ways however key differences shift the focus of a nonprofit manager. These differences include organizational structure, ownership, distribution of profits, generating revenue and...
Words: 1728 - Pages: 7
...Issues and Problems Faced by Non Profit Organizations: Funding for Non Profit Organizations “Funding for Non-Profit Organizations” Introduction In general, non-profit organizations conduct business activities and actually raise revenues but their surplus funds are not distributed to owners or shareholders. They operate with the help of some staff who are, although paid salaries, do not earn as much as those who are employed in business corporations that operate for profit. There are also volunteers who provide manpower, skills and talents but are usually paid minimally or get no payment at all. As such, non-profit organizations are exempted from income and property taxation. While businesses and corporations are a source of funding, volunteerism renders the necessary fuel to keep non-profit organizations moving. By and large, non-profit organizations operate relying heavily on volunteer workers and generating funds through the assistance of business benefactors and foundations as well as through fund-raising activities. The number of people or staff that they maintain varies according to the size of the organization, but one thing that can be said about most of them is that they are generally understaffed primarily because of limited funds. DISCUSSION There are many existing international, national and local non-profit organizations. One common thread about them is that they exist for a cause, which...
Words: 2004 - Pages: 9
