Chapter 10
Financial Management
Phil Glasgo
Phil Glasgo, PhD, is a finance professor at Xavier University and has been a banker and an Army officer. He is a Presbyterian elder, and has served on the board of the Presbyterian Child Welfare Agency for the past 8 years. Phil has a PhD in finance from Ohio State University.
Introduction
Nonprofits and faith-based organizations are not founded to make profits and please shareholders (however, they do need to satisfy other stakeholders). But arguably good financial management is even more important for them than to for-profit organizations, because they have fewer options when facing a financial need. For-profits can issue additional equity, pledge assets as collateral, or do both to borrow ...
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