Sarbanes-Oxley and Nonprofit Management: Skills, Techniques, and Methods
- A structured description of Sarbanes-Oxley and its implications for nonprofits
- Detailed discussions on governance, including financial literacy for board members, new standards of accountability for boards, and best practices for nonprofit management
- Sample documents, procedures, and frameworks to help you implement best practices
- Worksheets, forms, and resource materials in each chapter
- A "walk-through" of typical financial statements and sample
documents such as a Conflict of Interest policy, board orientation
curriculum, a Whistleblower Protection policy, a Document
Preservation policy, and a fundraising plan.
Implementing proven best practices stemming from Sarbanes-Oxley can diminish organizational dysfunction, promote a solid infrastructure, and propel your organization to the platinum standard of operations and governance, giving your organization the competitive advantage in today's demanding nonprofit environment.
Chapter 1: History and Legislative Background of the Sarbanes-Oxley Act of 2002.
Passage of the Sarbanes-Oxley Act of 2002.
Analysis of the Legislative and Regulatory Content of SOX.
Factors that Drove the Swift Passage of SOX.
Implications of SOX for Nonprofits.
Worksheet: SOX and Relevance to Nonprofit Operations.
Chapter 2: SOX Requirements, Best Practices, and State Legislation.
What Are Nonprofits Required to Do Under SOX?
SOX Best Practices.
Benefits of Implementing Best Practices—Adding Value to the Nonprofit.
Nonprofits: Current Legislative Environment.
Example of State Legislation—California’s “Nonprofit Integrity Act” (SB 1262).
Chapter 3: Anatomy of a Dysfunctional Nonprofit: Diagnosing of Organizational Dysfunction.
Chapter 4: Root Cause Analysis Part I: Three Nonprofit Crises.
American Red Cross National Headquarters and Post-September 11th Fundraising and Blood Collection.
United Way of the National Capital Area.
James Beard Foundation.
Factors, Common and Unique, and Lessons Learned.
Chapter 5: Root Cause Analysis—Part II.
Summary of Finding from Root Cause Analysis—Part I.
Document Preservation Policy.
SOX Best Practices.
Chapter 6: SOX Best Practices and Governance.
Role of the Board in Today’s Nonprofit.
Chapter 7: SOX Best Practices and the Nonprofit Executive Team.
Chapter 8: Sarbanes-Oxley Best Practices and Information Technology.
Benefits of Implementing Sarbanes-Oxley Best Practices.
Chapter 9: Human Resource Management—Sarbanes-Oxley Requirements and Best Practices.
Why Individuals Are Reluctant to “Blow the Whistle” on Waste, Fraud, and Abuse.
Creating a Confidential Reporting System.
Travel Claims and Reimbursement Policies.
Employees or Independent Contractors? Why the IRS Wants to Know.
Protecting the Privacy of Staff and Volunteers.
Chapter 10: Sox Best Practices and Fundraising.
The Changing Legislative Environment’s Impact on Fundraising Practices.
Example of State Law Relative to Fundraising: Provisions of California’s SB 1262 Nonprofit Integrity Act to Fundraising Activities.
The Role of the Board and Executive Team in Providing Oversight and Guidance to a Nonprofit’s Fundraising.
Best Practices and Industry Standards for Fundraising and Development.
Internal Controls and Ethical Considerations for Fundraising.
Chapter 11: SOX Best Practices and Internal Controls.
Need for an Internal Control System.
Advantages of Adopting SOX Best Practices Regarding Internal Controls.
What Is an Effective Internal Control System?
Committee of Sponsoring Organizations.
Importance of Internal Financial Controls.
Worksheet 1: Conducting an Internal Control System Review.
Worksheet 2: Questions for the Senior Management and the Board of Directors.
Chapter 12: The Financially Literate Board.
Need for a Financially Literate Board of Directors.
Determining Board Competence in Financial Matters.
Adult Learners and Learning Styles.
Content that Should Be Covered.
Worksheet: Developing a Financial Literacy Training Plan.
Chapter 13: SOX Best Practices and Legal Compliance.
Need for Board Oversight.
Three Duties of the Board of Directors.
The Importance of an Audit.
Working with the IRS.
Working with Attorneys.
Worksheet: Legal Compliance Review.
Chapter 14: Sox Best Practices and Political Competence.
Developing Political Competence.
Role of Nonprofits.
Two Components in Political Competence.
Alignment with Others.
Arguments against Exercising Political Competence.
Helpful Websites for the Nonprofit Developing Its Political Competence.
Worksheet: Pressures for Nonprofit Reform.
About the Authors.
TONI E. FOGARTY, PhD, MPH, is an Associate Professor in
the Department of Public Affairs and Administration at California
State University, East Bay. She serves as the graduate coordinator
for the Master of Science in Health Care Administration Program,
and teaches courses in health care management, organizational
change and development, health care finance and budgeting, research
methods, and the legal and ethical aspects of health care. She is a
founding partner and CFO of Fogarty, Jackson & Associates and
is a nationally recognized lecturer in business continuity
planning, distance learning, and Sarbanes-Oxley compliance for
Jackson and Fogarty coauthored Managing Risk in Nonprofit Organizations and Sarbanes-Oxley for Nonprofits (both published by Wiley).
- A hands-on approach with a CD-ROM.
- Each chapter includes worksheets, forms, and resource materials as well as academic materials available on the CD-ROM.
- Appendix contains key words, review questions, relevant websites, and a case study for each chapter.
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