Financial Management (IST 2087; 2 credits)
A brief examination of various financial management concepts relevant to church leaders, non-profit and for-profit organizations, and various social and community activist positions. The class will explore important debt, equity, and fundraising issues critical to success in these fields and introduce basic financial terms such as forecasting, budgeting, and cash flow.
- Managing a Nonprofit Organization: Updated Twenty-First-Century Edition by Thomas Wolf (ISBN-10: 1451608462/ISBN-13: 978-1451608465)
- Other materials will be provided in Canvas, as needed
OPTIONAL: (Good reference guide; however, cost may be prohibitive) Understanding Financial Statements: Master the Tools That Help You Succeed (Crisp Fifty-Minute Books) by James Gill and Moira Chatton (ISBN-10: 1426018509/ISBN-13: 978-1426018503)
A brief examination of various financial management concepts relevant to church leaders, non-profit and for-profit organizations, and various social and community activist positions. The class will explore important debt, equity, and fundraising issues critical to success in these fields and introduce basic financial terms such as forecasting, budgeting, and cash flow.
1) Students will learn the basic principles and financial vocabulary applicable to a wide variety of non-profit organizations and churches.
2) Students will demonstrate basic budgeting concepts and how to apply these skills.
3) Students will learn to effectively read and understand financial statements.
4) Students will identify and reflect upon key issues concerning the role(s) of pastors of congregations and executive directors of other non-profit organizations with regard to the financial management effectiveness and the mission/vision of such congregations and other non-profit organizations.
5) Students will use financial data to present relevant organizational financial data to a variety of stakeholders.
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