Nichole Craig's Graduation Project: thursday 9/25/08

Thursday, September 25, 2008

thursday 9/25/08

Today I'm still doing research...I was looking at animal friends and I found this article which talks about adopting old animals. I think its really great for people to adopt older animals because they are probably already house broken, taught basic commands, and they probably dont chew at things as much as a new puppy would. They also have this Red Collar Society, and the lady who actually created it got the name from the Red Hat Society (for older women enjoying their middle ages), but basically its for the older animals and they would get lots of special discounts on pet jewelry, special classes for the pets arthritis, and some other classes to bond the new owner and the pet.

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key terms

• Assets: A charity's assets include cash, savings, investments, property, and other items of ownership with an exchange value.
• Charity – A charity exists to serve a societal group mission, and does not pursue self-interest or pay out profit to individuals. It is recognized by the IRS as tax-exempt and eligible to receive tax-deductible contributions.
• Compensation: Using information reported on an organization's most recent Form 990, we include as compensation an individual's salary, cash bonuses, and expense accounts and other allowances.
• Expenses – A charity’s expenses include spending on such things as salaries, supplies, equipment, travel, and conferences. Also including the value of donated goods that a charity distributes.
• Income statements – Shows the breakdown of a charity’s revenue and expenses, its payments to affiliates, excess or deflect, and total net assets reported in the most recent fiscal year.
• Liabilities – debt for which the charity is legally responsible for.
• Net Assets: The difference between a charity's assets and its liabilities.
• Non-profit – this exists to serve societal or group mission, and does not pursue self-interest or pay out profit to individuals.
• Revenue: Charities can derive revenue or funding from a variety of sources, including contributions, program services, membership dues, interest on savings, investment income, special events, and sales of inventory.
• Working Capital Ratio: Determines how long a charity could sustain its level of spending using its net liquid assets, or working capital, as reported on its most recently filed Form 990.