Reflection paper: Acc 625: Governmental and Non - Profit Accounting

Ronnie Spears
Acc 625: Governmental and Non- Profit Accounting
Iona College
Professor. Kinkela
05/06/2016
Final Reflection
Between the Madison Square Boys and Girls Club and Feed the Children, this was a tough pick between both charities. The surprising factor to me was that both charities have solid financial metrics, and they were both easy to look up. It was surprising for the MSBGC to have such a financial boost from the years 2012 to 2013. The contributions increase over 108% growth. MSBGC does an excellent job in acquiring partnerships, and one of the biggest ones is Major League Baseball, MSG and among others. They also do a superb job at reconnecting with its alumni and continue to build strong relationships and offer support.
As a former alumni of the MSBC, I was shocked at how little they made on the Membership dues. I always remember of being charged $5 every year and for summer camp would be even more including trips, lunch and so forth. It is understandable that the organization had a huge annual budget, which was always on the increase every year. It is a shame that maybe the organization doesn't have enough enrollments.
With this notwithstanding, I am particularly proud of the rich history that MSBGC has, spanning more than a century.Its programs have spanned every aspect of a child's life, from the sense of being an American citizen to education and health.Having an excellent track record of serving the disadvantaged people in the society, I also feel excited with the knowledge that the organization currently serves more than 5000 children.Quite interestingly, I was part of this statistic at one time.
Feed the Children, on the other hand, is quite impressive as well.Its financial reporting is on point.On its website, it offers the financial reports from the year 2014 onwards, in addition to the form 990 and consolidated financial statements.The ease of availability of its financial reports from its website is a good indicator when it comes to transparency of its financial dealings and accountability as well.What surprises me is that virtually all of the organization's source of income is from grants and contributions, with a slight percentage being from government donations.I find it, however, worrying that the organization operated with a deficit for the year ending June 2014.The organization needs to come up with a strategy in which to balance off the expenses against the revenue, so as to prevent any further strain on its books of accounts.
I would have easil...