Why the Y
Youth Development, Healthy Living, and Social Responsibility
What is Areas of Focus
The non-profit version of shareholders
What are the stakeholders
Financing, depreciation, personnel, and occupancy
What are expenses?
Recording revenue and expense on statement of activities when the event occurs
What is accrual accounting?
10%
What is the minimum percent of contributed revenue?
Strengthening the Foundations of Community
What is our cause?
An obligation to act in one's best interest
What is fiduciary responsibility?
The net worth equation
What is assets minus liabilities?
A charge so highly likely or regular that it is recognized on "the books" before it happens
What is accrued expense?
45-65%
What is the ideal personnel cost range?
Caring, Honesty, Respect and Responsibility
What are our core values
Sets policy and monitors fiscal integrity
What is the Board of Directors?
Anything capable of producing value
What is an asset?
Income that has not yet been earned
What is deferred revenue?
990
What is the tax return number for non-profits?
LCM stands for this?
What is the Leadership Competency Model?
Specific charitable designation for tax deduction
What is a 501(c)(3)?
An obligation or claim against the organization
What is a liability?
Rent, heat, water, gas expenses
What is occupancy?
120
What is the number of countries where YMCA's are located?
Welcoming, hopeful, nurturing, genuine, determined
What is our voice
A non-profit's earnings cannot benefit one person/must be for the greater good
What is the inurement principle?
The main accounting record/double entry system
What is the general ledger?
Grants, donations, and events
What is contributed revenue?
174
What is the number of years the YMCA has been in Boston