My name is Chastity McCray, senior Business Management major. Being a student at the University of Memphis has afforded me many opportunities to gain knowledge things otherwise not know. My current Intro to Nonprofit Management class has been one of those classes that has already proved beneficial. The following three topics are just a brief summation of what I have learned thus far.
Nonprofits are not supposed to be used as tax shelters by anyone. I have had my share of stereotypes regarding most nonprofit organizations, especially with the issues in the past related to the United Way Foundation. I found myself not willing to support these types of organizations because I felt their internal structure was not working in the best interest of the communities in which they served. It also made me look very closely a the church I currently attend because there have been quite a few incidents of mismanagement of funds, etc.
The one thing that I now know is that all nonprofits are governed by the IRS as well as other government agencies to ensure that the rights and monies of the people are protected. There is nothing like discovering how your donations were pocketed by a board member who was a crook. This is exactly what I finding in our church. Suffice it to say that I have been one of the members who are a committee dedicated to restoring the true foundation of our board. The IRS has been called in to investigate the misdeeds of our trustees. Now that I am taking this class, I am gaining insight on how to really proceed with this and not risk a disastrous fallout.
Finally, the company’s mission statement should say who it is and what it’s purpose will be in the community. I highlighted MIFA (Memphis Interfaith Organization) in one of my assignments because they support a large part of our community. The mission statement of that company was a bit generalized, but it did state what the company was trying to do in the community. It is important to note that the board members are responsible for protecting and upholding the mission statement. Otherwise, there should be no company.
I am truly looking forward to more blogging.