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Non Profit Making
 

Non Profit Making

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    Non Profit Making Non Profit Making Presentation Transcript

    • Non Profit Making Organisations Mr Arthur
    • Aims of the Lesson
      • Intro to Non Profit Making Organisations
      • Sources of Finance for Non Profit Making Orgs
    • Intro to Non Profit Making Organisations
      • Non Profit Making organisations don’t make a profit but use their funds to promote the interests of their members
        • Golf Clubs
        • Drama Club
        • Health Club
      • Club is run by a Committee which is elected at the AGM
      • The Treasurer is responsible for the financial running of the club and will create the following:
        • Trading Accounts from the Bar
        • Receipts and Payments Account
        • Income and Expenditure Account
        • Balance Sheet
    • Sources of Finance
      • The club will not sell products but provide a service for its members
      • Sources:
        • Subscriptions = An Annual fee paid by members to use the facilities of the club
        • Revenue from Bar or sale of food
        • Donations
        • Fund-raising activities
        • Loans
        • Grants = a sum given by the local authority, lottery etc which doesn’t get paid back
    • Aims of the Lesson
      • Last Lesson
      • Intro to Non Profit Making Organisations
      • Sources of Finance for Non Profit Making Orgs
      • Today’s Lesson
      • Subscription Accruals and Prepayments
    • Subscription Accruals and Prepayments
      • Accruals at End
        • I and E = add on to Subscription value
        • BS = Current Asset as members still have to pay Subs
      • Accruals at Start
        • ** Do the opposite
        • I and E = take away from Subscription value
        • Add on to Opening Accumulated Fund
      • Prepayments at End
        • I and E = take away from Subscription value
        • BS = Current Liability as members have paid and you still owe the service next year
      • Prepayments at Start
        • ** Do the opposite
        • I and E = add on to Subscription value
        • Take away from Opening Accumulated Fund
    • Aims of the Lesson
      • Last Lesson
      • Intro to Non Profit Making Organisations
      • Sources of Finance for Non Profit Making Orgs
      • Subscription Accruals and Prepayments
      • Today’s Lesson
      • Life Membership
    • Life Membership
      • Some clubs allow members to purchase Life Memberships
      • They pay a lump sum but pay no Subscriptions
      • Method 1
        • Fee is Transferred to Life Membership Account and interest each year is treated as Income
      • Method 2
        • The Committee may decide on a period of time for writing off the Life Membership e.g. 25 years
        • Each year 1/25 th is treated as Income
        • Interest is also treated as Income