Financial Management in Nonprofit Organizations Essay - 4

Financial Management in Nonprofit Organizations - Essay Example wn that different objective of for-profit and nonprofit organizations are the major factor which requires the change in financial management processes. It has also found that financial management techniques may vary across for-profit and nonprofit organizations because of different governance mechanisms, tax treatment, stakeholders and accounting requirements. Therefore, for the financial health of nonprofit organizations and to facilitate them in achieving their aims, such changes have become necessary. A nonprofit organization offers public services without any intention of achieving any personal gain or self interest and these organizations are exempt from paying federal taxes (Zietlow, Hankin, & Seidner, 2007). Under the selection 501(c) (3) of the Code, the described organizations are charitable organizations and they are eligible to get tax-deductible contributions and earnings of organization may not inure to private shareholders or individuals (Credit Infocentre, 2006). Actually the number of nonprofit organizations is increasing vary rapidly and it is becoming important to control and monitor the financial practices of these organizations. Although these organizations can earn money however, the money earned has to be used for public service purpose only. Therefore, the differences in financial management techniques appear right from the difference in financial objectives of the two kinds of organizations. The primary financial objectives of nonprofit organizations found th rough a survey in 2002 highlight that most nonprofit organizations aims to achieve breakeven point, followed by those which aim to maintain a significant level of cash reserves and financial flexibility. Moreover, the other primary objectives identified include maximizing cash flow, net revenues, net donations and surplus and reducing costs (Zietlow, Hankin, & Seidner, 2007). Because of these financial objectives the financial management techniques of not-for-profit and for-profit

Home bound geriatric patients Essay Example | Topics and Well Written Essays - 1750 words

Home bound geriatric patients - Essay Example Homebound geriatric patients often live in senior apartment housing or sometimes, in individual housing. Their homes are sometimes in substandard conditions even if they try very hard to keep their homes clean and livable. Most geriatric patients live alone and depend on visits from family and/or medical professionals for their survival. Their physical limitations also make it difficult for them to go out and buy food for themselves, or if they do have food, they are hampered by their physical or cognitive disabilities to prepare the food. They are vulnerable because of their physical limitations which put them in further danger of injury. Their physical limitations and dependence consequently makes them frustrated and depressed. Their doctors sometimes do not see them for years because they cannot leave their homes and physicians are not anymore in the practice of making house calls. Oftentimes, when medical help is made available to them, their medical condition has already progres sed to unmanageable stages. They are then again consigned to nursing homes or sent back home—back to the very conditions that brought about their worsening medical conditions. I chose this topic because like, the homebound elderly patients, this topic is not given enough attention by the medical community, by our government, and by our society. I chose this topic for its relevance. â€Å"World demographic changes show an increase in the elderly population worldwide† (Zini & Pietrokovsky, 2006). The increase in life span has also resulted to an increase in the number of elderly patients but still not enough medical attention and care given to them. This topic interests me because, unless attention is brought to it, this problem will worsen. The early 1990s alone presented alarming statistics for homebound elderly patients. â€Å"The growth in the number of elderly people in need of long-term care at home has been and is projected to be