There are many titles used to identify those persons responsible for the financial management of a nonprofit organization, including director of finance, chief financial officer, treasurer, controller, chief accountant, director of operations, business administrator, and financial secretary. While the title of the position varies from organization to organization, the responsibility involved does not, requiring knowledge, skill, and the ability to balance a realization of the nonprofit's mission in tandem with effective management of the organization's funds. Written in the light of increased scrutiny and accountability of nonprofits, Financial Management for Nonprofit Organizations: Policies and Practices effectively weaves legal and ethical considerations into a comprehensive treatment of nonprofit strategy and finance, furnishing financial officers with a firm knowledge of ethical business management. Indispensable for all types and sizes of organizations, from small religious groups and community social service agencies to major cultural institutions and colleges and universities, this important book imparts a clear sense of the technical expertise and proficiency needed as a nonprofit financial officer and includes real-world case studies, checklists, tables, and sample policies to clarify and explain financial concepts. Unlike other books on money management within the nonprofit field, this timely book uniquely discusses the development of a basis for liquidity targeting as the primary financial objective of the nonprofit—especially noncommercial nonprofit organizations—and then ties other financial decision areas to this liquidity target throughout the book. Financial Management for Nonprofit Organizations demonstrates that financial management functions are expanding—and supplies effective strategies that will make a real difference in every organization's ability to achieve its mission.