The Fund Management Practices in Not-for-Profit Organizations
Keywords:fund management practices, not-for-profit organizations, fund raising, investments, control activities
The purpose of the study was to assess the fund management practices of non-profit organizations based on fundraising, investment, and control activities. The respondents of the study were the members of the organization involved in fund management. The researcher chose a descriptive research method. The researcher primarily utilized survey questionnaires to gather the needed information as well as an unstructured interview. Purposive sampling was used as the sampling design. The researcher used the following statistical tools: frequency, percentage, weighted mean, f-Test, and t-Test. This study specifically aimed to answer the profile of the respondents in terms of their sex, age, civil status, educational attainment, the number of years they were serving in the organization, number of training sessions in fund management and number of years experience in fund management. The second problem that this study sought to answer is the respondents' assessment on the fund management practices in terms of fundraising, investment, and control activities. The third problem aimed to determine the difference of respondents' assessment of fund managers when they were grouped according to profile. This study will help non-PCNC accredited non-profit organizations, managers, academe, and researcher who intend to make a further relevant study about this topic. The study showed that majority of the respondents were female, single, aged 36 to 55 years old with bachelor's degrees and have 6 to 10 years experience in fund management and attended 6 to 10 training sessions. NPOs are effectively implementing fund management practices to fundraising especially through organizing, primarily, special events like runs, raffles, bingos where participants pay a certain fee to enter, secondly, program services fees for amounts charged to clients for services of the organization, and, lastly, receipt of contributions from donors. NPOs are compliant to government statutory requirements like payment of taxes if any. They have effectively established fund management practices in disbursements to employees, vendors and contractors, approved project activities and purchase of property, plant, and equipment. NPOs effectively established fund management practices as to control activities where members are only reimbursed for expenses that are approved in advance and writing, and only one cashier has access to cash drawer at any given time. Age, civil status, civil status, highest educational attainment, number of training sessions on fund management and number of years experience in fund management is not a significant factor when it comes to the effectiveness of fund management practices of NPOs involved in childcare and eldercare foundations. The researcher would like to recommend the following: 1. Respondents engaged in fund management are recommended to attend fund management training sessions, workshops, and seminars geared for NPO to equip them further of applications of concepts and possible fund management strategies; 2.NPO management should deliberately consider having a PCNC accreditation since this is one of the requirements for the Bureau of Internal Revenue to give a Certificate of Tax Exemption making the organizations more attractive to donors or grantors. The PCNC accreditation also provides opportunities for self-assessment and improvement, and valuable assistance for organizational strengthening; 3. The management should further spearhead fundraising events such as holiday-themed events, seminars, auctions, marathon runs, sponsorships or sale of organization-made goods, and offer services in exchange to an acceptable fee to ensure that sufficient funds are raised to meet budgeted objectives. 4. The management to create an officer position for external affairs or its equivalent to develop and enhance the organization's public image and establish local and international linkages to help secure donations or grants; and, 5) Future researchers may widen the coverage of their studies by extending to the regional and national scope as well as to other forms of NPOs.