Please read and answer all questions in full detail. Lable each question as well.

QUESTIONS FOR DISCUSSION 1. Some people argue that nonprofit organizations should not have endowments at all. One of their arguments goes something like this: Putting money aside in endowment means depriving today's generation of the use of those resources so as to benefit future generations, which will receive services supported by income from the endowment. There are many people in great need of services today. Why are tomorrow's needy more deserving than today's? The funds should be spent now to meet current needs. Let future generations of donors support the needs of people in the future. Since the economy grows over the long run, giving will increase over time, and there should be enough philanthropy to meet those future needs. It is thus especially unjust to provide for the future at the expense of people alive today, who live in less affluent times. Do you agree? Why or why not? What arguments would you make on the other side of this issue? Would your views be different with regard to different types of nonprofits, for example, homeless shelters, universities, museums, or environmental organizations? 2. Look up the Form 990 of a nonprofit organization that interests you. (It is likely available from various sources online.) Go through the financial data and develop your own analysis of the organization's finances. Questions you might think about include the following: Does it appear to have diversified sources of revenue? How vulnerable or unpredictable are these sources likely to be? What were its major categories of expenses for the year shown? What unforeseen expenses could arise? What kinds of assets does it hold? Does it have debt? What produced its cash flow for the year shown? Does it have endowment or other donor-restricted assets? 3. The following items were reported in the news media. In each case, what types of controls that might have prevented the incident were possibly either not in place or did not work? A former financial officer at a New York-based nonprofit that supports research into genetic illnesses was arrested... on suspicion of embezzling more than $1.8 million from the organization.... [The individual] served for more than eight years as controller of the [foundation], exercising primary responsibility for paying the charity's bills and delivering grant funds for medical studies. A federal criminal complaint ... alleges [that the individual] disguised transfers to bank accounts she controlled as grant payments in the foundation's accounting software. ("Ex-Official at Medical Charity Accused," 2014) Eighteen months after ... one of the largest natural history museums in the country ... shocked [its home] city by revealing that it was in a financial crisis, one of its top executives appears to be the only one to face criminal charges in the museum's near collapse. [The chief financial officer], who left his job after [the] problems became public, was charged by [the city's] district attorney with using money from the endowment to cover operating expenses as the museum sank into a financial crisis, and lying about his actions in board meetings to hold onto his job, according to criminal charges filed this month. He did not profit personally from his actions, according to the complaint. (Gose, 2006, p. 17) Although the University of Maryland is a public institution of higher education, the University of Maryland Medical System is a nonprofit corporation that operates a network of hospitals across the state. In 2019, the chief executive officer was asked to step aside and board members resigned after it was revealed that several had business relationships with the organization, some worth hundreds of thousands of dollars. That included the mayor of Baltimore, who had sold 20,000 copies of a self-published children's book to the system while she was serving as a board member. The board chair announced that an auditing firm wou Questions for Discussion gh investigation. The state Senate also passed a bill requiring comprehensive audits. (Chason, 2019)