Description

Unlike for-profit businesses that exist to generate profits for their owners, nonprofit organizations exist to pursue missions that address the needs of society. Nonprofit organizations serve in a variety of sectors, such as religious, education, health, social services, commerce, amateur sports clubs, and the arts. Nonprofits do not have commercial owners and must rely on funds from contributions, membership dues, program revenues, fundraising events, public and private grants, and investment income.

Not-for-profits have unique needs.  Concepts such as accounting for public funding, donations, and other sources of revenue and expenditures can present different challenges than in for profit organizations.

This course focuses on specific aspects integral to the introduction of accounting for non-profits, including establishing a chart of accounts and exploring the types of revenue that a typical not-for profit organization obtains and how that revenue is accounted for.