ACC $325$ Final Project Guidelines and Rubric Overview The final project for this course is the hypothetical creation of a nonprofit organization. The final product represents an authentic demonstration of competency because it addresses all major considerations needed to establish and run a nonprofit organization. The project is divided into two milestones and a final project submission. The milestones will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. The milestones will be submitted in Modules Three and Five. The final product will be submitted in Module Seven. In this assignment, you will demonstrate your mastery of the following course outcomes: Prepare and present financial documents related to nonprofit organizations according to appropriate ethical considerations and legal requirements Evaluate and apply legal and tax requirements in the preparation of financial documents for nonprofit organizations Employ financial management best practices as a means of making informed business decisions Prompt Specifically, you must address the critical elements listed below. Most of the critical elements align with a particular course outcome $($shown in brackets$).$ Establishing Your Nonprofit Describe the nonprofit organization you envision starting. Include the following in your description: The name and mission of the nonprofit; include any other details you feel are important or interesting The state your nonprofit is located in$$preferably the state you are currently located in Discuss the corporate structure and corporate governance of your nonprofit. Explain how your corporate structure meets nonprofit standards. What is the makeup of the board of directors? What qualifications do they have? What might cause conflicts of interest? What is the makeup of your finance$/$audit committee? What is their role? Explain the legal requirements and process for becoming a nonprofit. Consider both federal and state requirements needed to establish the nonprofit. Research and report what agencies you will need to contact in order to establish your nonprofit. Cite your sources. Research and report what forms are needed to establish your nonprofit. Cite your sources. Reporting and Filing Create financial reports for your second year of operations. Use the provided data in the Final Project Workbook to address the following: Create a Statement of Financial Position. Create a Statement of Activities. Create a Statement of Cash Flows. Explain where you will have to submit your financial reports. Discuss your annual filing requirements needed to keep the nonprofit status. Identify federal legal filing requirements. Identify federal tax requirements. Identify state legal filing requirements. Identify state tax requirements. Use your identified state requirements and support your discussion with relevant resources. Summary and Reflection Create a budget $($using the Budget tab in the Final Project Workbook$)$ based on your second year of operations. Summarize your budget and make suggestions for the future of your operations. What would you do differently? What kind of changes would you make to your budget or operations? Summarize your financial analysis. Complete your financial analysis in the Final Project Workbook using the Financial Analysis tab. Then review your key ratios and performance indicators. Identify three ratios that you want to use to inform any future changes. Based on your financial analysis of those three ratios, what changes would you need to implement?