BPA 331 University of Phoenix Financial Management of an Endowment Case Study

Description

You and your Learning Team membersare the financial managers of a midsize nonprofit that has just received asubstantial endowment from a longtime supporter. The board members are excitedbecause years of effort have gone into seeking this endowment, and they areexpecting that the endowment will mean increased financial stability for thenonprofit in the future.

The board members have beendistressed by money shortages in recent years caused by donor fatigue and theeconomic downturn. However, they do not know how an endowment should bemanaged. A few members have knowledge of accounting and auditing, but no one onthe board is an investment expert. The nonprofit has no experience in endowmentinvestment, given that this is the first endowment the nonprofit has received.

As the financial managers of thenonprofit, you have been asked to take on the responsibility of establishingand managing the endowment, which is a situation not uncommon in small andmidsize nonprofits. You are all very pleased with the infusion of capital as anendowment, but you are taking on the role of managing the endowment with sometrepidation because you know how unprepared the nonprofit is for this newfinancial management task.

Your team wants to perform wellwith the endowment for the mission of the nonprofit, but you do not want totake the blame if the endowment does not achieve excellence, despite your bestefforts, because of uncontrollable events like swings in the stock market andeconomic fluctuations.

What should you take into consideration and what steps should you undertake if you intend to take on responsibility for the endowment in addition to your other duties?
With the new infusion of capital, why is it important for your nonprofit to develop and maintain an internal control system?
Why are independent financial reviews necessary for this nonprofit?
With new infusions of capital, how does the Sarbanes-Oxley Act assist you in being a more responsible financial manager?

Include references and citations to support your responses.

Format your presentation consistent with APA guidelines.

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