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Praise for the Third Edition
"Financial and Strategic Management for Nonprofit Organizations is elegant, helpful, accessible, and most of all pragmatic."
—Regina E. Herzlinger, Nancy McPherson Professor of Business Administration, Harvard Business School, Harvard University
"Bryce's fine and comprehensive book has become an indispensable resource for teachers and managers concerned with ensuring the effectiveness of nonprofit organizations. No longer a domain for amateur idealists, nonprofit organizations require professional knowledge and skill if they are to succeed in their missions. The new edition of this book is essential to that success."
—Lawrence Lynn, Sydney Stein, Jr. Professor of Public Management, Irving B. Harris Graduate School of Public Policy Studies, University of Chicago
"Bryce effectively weaves legal and ethical considerations into his comprehensive treatment of nonprofit strategy and finance. A sound knowledge of the rules of the game is increasingly important for nonprofit leaders in making strategic choices."
—Gregory Dees, Miriam and Peter Haas Centennial Professor in Public Service, Stanford Graduate School of Business, Stanford University
"Bryce's third edition is a must read for practitioners—managers as well as directors—of nonprofit management, particularly those whose focus is on the money-strategy interface. It should also serve as a useful text for graduate courses in nonprofit management."
—Raymond Horton, chair of the Management Division and director of the Public and Nonprofit Management Program, Graduate School of Business, Columbia University
"Nonprofit leaders need to respond to the increasing calls from the public for accountability, and Herrington Bryce provides the essential legal and financial elements of that responsibility. This is a must for the bookshelf."
—Christine Letts, director of the Hauser Center for Nonprofit Institutions, The John F. Kennedy School of Government, Harvard University
This book is intended to increase the efficiency by which the financial and the strategic management of nonprofit organizations are conducted. For top management, the two perspectives must be seen as a cohesive whole. Finance is simply a necessary tool to meet the organization's strategic goals. The challenge before all top managers, therefore, is how to develop and use financial and other tools successfully in a coordinated strategy to meet the responsibilities of the organization as these responsibilities fall on the managers themselves and on the trustees.
Every observer of the nonprofit sector over the past decade and a half is familiar with the long list of crass ethical breaches the sector has suffered and the resulting organizational setbacks. As young people are wont to say, some of them were really gross. I strongly believe that gross ethical violations are often made possible by faulty management. As a consequence, this book has adopted an underlying subtext to its extensive technical discussions. It begins with a presentation of barriers for blocking ethical assaults on the organization. Throughout the book, there are specific references to ethical codes and laws that should guide the manager.
The first two editions of this book were published by Prentice Hall and distributed by Simon & Schuster. Part One of this new edition is virtually new. Its purpose is to lay out the technical and legal fundamentals. These are necessary not only for forming a nonprofit, but also for operating them in their various organizational forms, and consequently with varying legal limitations and powers. A sensible manager, whether in sports, the nonprofit world, or in the corporate world, needs to know the basic rules of the game. Plays, like strategies, are built to be effective within the rules.
Let us share our best practices. Major lenders to foreign countries, international organizations, and U.S. foundations have generated a deep interest in the development of a third or nongovernmental sector (nongovernmental organizations; NGOs) in developing countries and in the countries that formerly constituted the Soviet Union. The author's stays in some of these countries (for example, Russia, Georgia, and Estonia) for purposes of providing technical assistance to public administrators through the auspices of the National Academy for Public Administration (NAPA) have brought a very deep appreciation for the need for a strong nonprofit sector.
From the very first edition of this book, a goal was to provide a comprehensive reference for senior officers and trustees of nonprofit organizations. This book may also serve as a teaching text. I have used it for years in teaching MBA students and students in our in-service executive program. Its breadth allows me to design a course, the content of which may change as my audience and my own interests change. I have even been able to use this text to teach doctoral students in education and law students jointly enrolled in the MBA program.
January 2000 Herrington J. Bryce