Many nonprofit board members lack financial literacy and are criticized for failing to comprehend the nonprofit accounting and related financial management needed to manage their nonprofit effectively. Their lack of understanding often is to the detriment of their nonprofit’s mission and effectiveness.
Professor Charles Coe’s Nonprofit Financial Management: A Practical Guide (John Wiley & Sons, Inc. 2011) provides an antidote. This straight forward and easy to read text is a useful resource for nonprofit board members who need to know more about nonprofit financial management and accounting. The Nonprofit Financial Management: A Practical Guide reader benefits from Professor Coe’s years of classroom experience teaching these subjects.
Every board member must have a basic understanding of their nonprofit’s accounting and financial management. Given the increasing level of financial transparency and scrutiny, this text should be required reading for all board members. The book addresses practical areas of financial oversight which a nonprofit board must understand to fulfill their legal and fiduciary duties in managing their corporation. It provides a concise and quick reference for both the experienced and neophyte board member.
While applicable to nonprofits of all sizes, Nonprofit Financial Management: A Practical Guide will be an especially useful guide for smaller nonprofit organizations for which their board’s understanding of financial management is even more critical. The book provides an excellent teaching tool for any board intent upon improving its members’ overall financial literacy and management effectiveness.
Professor Charles Coe teaches in the Department of Public Administration at North Carolina State University and serves on the North Carolina State University’s Institute for Nonprofits‘ Academic Advisory Council.