Cnp Study Guide With Answers

Private Inurement Doctrine - correct answer-A nonprofit can't be set up to benefit a person instead of a cause. Opportunity Budgets - correct answer-Completed only when all other budgets are well planned and established. Looks at new opportunities/ventures Capital Funds - correct answer-Also called "brick and mortar" Includes new buildings, additions, major renovations, or new large equipment Capital support is generated through: 1. Individual major gifts 2. Corporate gifts 3. Grants from foundations or government Who oversees nonprofit organizations at the state level? - correct answer--The state attorney general oversees nonprofit incorporation and certification -The department of revenue handles applications for tax exempt status Is fund development a separate activity from an organizations' operations? - correct answer-No, every part of the nonprofit must be conscious of fund development 3 typical annual giving forms - correct answer-Direct mail Mobile giving Special evenets The 7 501(c)3 Nonprofit classifications - correct answer-1. Religious 2. Charitable 3. Scientific 4. Literacy 5. Education 6. Public safety testing Prevention of children/animal cruelty 7.National/international amateur sports competition Tax exemption form for nonprofits - correct answer-990 form What is the largest category of revenue for a nonprofit? - correct answer-Fees for service Fiduciary responsibilities of the board of directors - correct answer-Duty of care Duty of loyalty