Colorado Technical University Forbes Nonprofit Council Response
- January 15, 2022/ Management
Student post down below:
After correcting and reviewing the Senior Community Statement of Financial Position media piece, the total assets and liabilities equaled $376100. The overall picture showed an increased while the liabilities decreased for the period ending June 30, 2018. In addition, there was a decrease in support and revenue as well as expenses when compared to 2017. In making a forecast, by applying the reduction and elimination of the grants as follows: federal grant for the SAFE program reduced by 30 percent, the elimination of the Generis corporate grant for general support (unrestricted), and reducing the individual contributions for general support (unrestricted) by 25 percent will negatively affect the contributions and support revenues even though there are funds in the restricted account that can be used in the future.
The Senior Community Statement of Financial Position for the period ending June 30, 2018 showed the change in restricted assets totaling $40073 and the change in total unrestricted assets totaled ,672. As it relates to the liabilities, accounts payable reduced to $9721 from $52503 and the accrued expenses went up in 2018 by $4515. However, the total change in liabilities decreased by $37267. Further it is also important to note that the Support and Revenue services decreased in 2018 by $383460 while the expenses exceeded the revenue by $189729. In addition, the unrestricted overall net asset was $233479 while the restricted net assets was $121500. Overall the net assets at the end of the year was $280235 which was a decrease when compared to 2017.
In moving forward, Riverbend City should take into consideration its programs and support as explained by Sermier et al. (2012). In analyzing the programs that are in place, Sermier et al., stated that using this methodology can make room for the organization to be “profitable,” meaning they contribute positive amounts to the funding of administrative costs (2012). For example, engaging in fundraising projects will yield much contribution which may offset the grants that will be eliminated and reduced. Secondly, Sermier et al., expressed that support services will cater for other revenues and costs such as gifts from wills