amg midterm Flashcards
private foundations that launched the modern american culture sector
Ford and Rockefeller
how does the us support the arts via tax dollars?
(federal) national endowment of art
states arts council
local arts counci
arts business structures
performing, presenting, community service/education
mission
brief statement that describes the purpose of the organization – why it exists. NOT WHAT it does nor HOW it does it.
vision
brief statement describing an improved future-internal or external. Vision is Aspiration. Providing inspiration.
revenue for nonprofits
earned income 40% individuals 20% endowment 15% foundations 10% corporations 8% public support 7%
progressive stages of cycle
- idea
- start up
- growth
- maturity
- decline
- possible turnaround
- terminal
internal operating functions
- programs
- management/staff/admin
- governance/board
- finances/resources
- systems
Benchmarks/Best Practices of the Effective Nonprofit
- Clear Mission, Vision, and Mission-driven decisions
- Critical self-awareness and planning
- Governance strength, diversity, engagement
- Staff skill, depth, stability
- Effective management tools and systems
- Sufficient and sustainable financial resources
- Appropriate community relevance and engagement
the board/governance
- Represents the community being served
- Provides strategic direction
- Responsible for financial health and legal compliance
- Hires, evaluates and can replace the CEO
executive committee
- President/Chair (sometimes a Vice President too)
- Treasurer
- Secretary
duty of care
Take care that assets are used prudently: people, facility, good will. Make decisions in good faith and with good judgement.
duty of loyalty
Serve the needs of the organization above self-interest.
Advocate for the organization in public and personal realms
duty of obedience
Assure the By-laws and all legal regulations are upheld.
Assure the mission is being fulfilled
