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Essay / Research Paper Abstract
A 3 page paper evaluating the financial statements of Not-For-Profit Organization, obviously a fictitious nonprofit. Not-For-Profit Organization's financial statements appear to be sound. If one assessing the organization's financial strength would have any reservations, they should lie in the area counting assets not yet received. The corporate world can do this because those organizations have means to collect payment for services. That route is not available to Not-For-Profit Organization to collect gifts pledged but not yet received. Bibliography lists 1 source.
Page Count:
3 pages (~225 words per page)
File: CC6_KSacctFinStmts.rtf
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Unformatted sample text from the term paper:
Section 501(c)(3) organization under the U.S. Internal Revenue Code. It provides grant awards to researchers to underwrite the types of research activities to which Not-For-Profit Organization is dedicated.
(Goals and mission information not available.) Not-For-Profit Organization gains revenues from charitable contributions and from management of the assets donated to the organization. Not-For-Profit Organizations status as a
Section 501(c)(3) organization provides assurance for benefactors that the organization as a nonprofit organization remains in the good graces of the Internal Revenue Service (IRS). Financial Statements
The organizations cash flow statement reveals that its operating activities provided a positive cash flow for the organization in 2004, following a negative flow the preceding
year. Strengths A strength of the organization is that it holds as cash only those funds that it expects to pay out in
research grant awards in the near future. Cash that will not be needed for grant payments right away is placed in investments that can return value to the organization.
The organization also appears to manage donated assets well. It sold a donated apartment for $2,000 less than it believed it would
gain on the sale, but there is no information why it overestimated potential gain from the sale of the asset. Market conditions may have been involved, but the fact
remains that the organization gained at least market value from the sale of the donated apartment. Weaknesses A potential weakness of the organization
is its dependence on collecting grants and pledges to meet its obligations. Its accounts payable (i.e., grants payable) at the end of 2004 was more than $12 million, more
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