Magnolia Therapeutic Solutions Case Study

Only available on StudyMode
  • Download(s) : 145
  • Published : July 9, 2012
Open Document
Text Preview
Magnolia Therapeutic Solutions Case Study

June 25, 2012
BSHS/ 373: Financial Management in Human Services
University of Phoenix

Magnolia Therapeutic Solutions Case Study
Magnolia Therapeutic Solutions a nonprofit organization in New York City. The organization created in 1998 by Mary Stewart started the organization through grant funding. Over the years the organization prospered and grew into a million dollar organization. September 11, 2001 when New York City was attacked by terrorists, brought a new opportunity of funding from a grant provided from the city, to extend for a year helping with the traumatic experience and the aftermath of Post Traumatic Stress disorder associated with the terrorist attack. When the year of funding for 2001 had ended a new budget was introduced including the grant with hopes of a renewal for services. The organization fell short of the budget of $500,000. My decision in comparison of the board’s decision is different because I would not have approved the budget with the 2001 grant included, as this was a grant from the city that was to fund a program for only a year. Including the budget with the grant funding from the city, does not take into account the stability of the organization and does not display a concern for the well being of the employees who work there. In addition, when suspecting that there is available funding for programs, prior to approval of the funding continuing, does not take into account the needed resources to operate at full capacity for other programs in the organization. Those needed resources are being used elsewhere in the organization depleting the funding needed for the entire fiscal year. As mentioned above, one of the main causes of Magnolia’s problems is the assumption of available funding prior to authorization of the funding continuing. Magnolia Solutions faltering budget imposes threats of other programs shutting down. Lead-time for grant requests and multiyear programs must be...
tracking img