HSM 270 Week 7 Assignment - Stakeholder Influences
HSM 270 Week 7 Assignment - Stakeholder Influences fin571
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Date Created: 11/11/15
Stakeholder In uences Stakeholder In uences University of Phoenix HSM 270 Stakeholder In uences The Santa Rosa Philharmonic Youth Symphony SRPYS has a mission to educate and advance the skills of the community s children By implementing difficult and challenging curriculum for their musical student s the children are able to reach their full potential Every year dozens of students try out for the SRPYS to become one of the children that value the love of music experiences challenging and scholarly music opportunities develops leadership and also a deeper respect for multitudes of factors including music peers and community The SRPYS also works with the community as well as regional music and arts organizations to strengthen the importance and appreciation of music in today s society The administration and staff of the Santa Rosa Philharmonic Youth Symphony are at stake with the program because they are opening themselves up to be audited by the IRS to become eligible for a program grant Many grants only offer their funds to programs that are nonprofit organizations which would mean they would be registered as a 501c3 organization Since being a private foundation is one of the qualifications to being entitled to 501c3 benefits the SRPYS has hope Private foundations are also considered nonoperating organizations because they have inactive programs which is a characteristic of the SRPYS Also anything that is nonprofit and supports the work of public charities through grants is considered a private foundation2009 The administration and staff is required to fill out Form 1023 which is a 28 page long form that acts as an IRS examination that audits all proposals of activity as well as all past activity The administration and staff must ensure that all parts of the program are for nonprofit as well as cut ties to any inside beneficiaries or other con icts of interest otherwise their status as a nonprofit organization will be denied2009 The administration and staff are under strict rules when operating a nonprofit organization No activity by the organization will 2 Stakeholder In uences unfairly benefit any one person and if the organization shuts down no single individual can inherit any of the corporate assets2009 The staff and administration will also have to keep a record throughout the entire year in order to file a the yearly form 990 with the IRS This puts stress on the administration and staff because they are required to document more information making their jobs a little more difficult and there is no extra pay involved The Institution that is funding the Santa Rosa Philharmonic Youth Symphony is also at stake because they are the ones who are evaluating the program to ensure that it is worthy of receiving a program grant They are responsible for ensuring that their beneficiaries are promoting economic growth in alliance to the foundation s requirements as well as determining what category the SRPYS should be placed in In Ohio a perfect example of a funding opportunity is The George Gund Foundation This foundation is a nonprofit institution dedicated to the well being and progression of society The foundation has many responsibilities as well including filing a Form990PF This form is used by the IRS to determine whether the private foundations are in alliance with the Internal Revenue Code and Tax Reform Acts or not The form requires the foundation to list the foundation s assets receipts expenditures compensation of officers and grants made during the year Gund 2009 Since this stakeholder has the most in uence on whether the program is passed or denied they are critically extensive in their evaluations of proposals and approval of grants Since the funding institution only has a limited amount of money they must be very literal and detailed on who will be receiving service and how many people it will benefit The George Gund Foundation funds programs that enhance cities in the arts economic development education environment human services special projects and green building policy departments They primarily provide service to the Greater Stakeholder In uences Cleveland community since that is where the grantor lived The grantors have in uence on the program because they hope to use their grant money to help people who will develop responses to the city s problems The guidelines set by the foundation are urging the beneficiaries to create programs that re ect the longstanding interests in the arts economic development and community revitalization education environment and human services They do not give grants for endowments nor to individuals Grants are only to certified nonprofit taxexempt qualified government units and agencies Gund 2009 Any grant applicant would be in uenced to create their program based on the community needs so they are in alliance with the grantor s specifications The community the program serves is also an avid stakeholder for the program The community is the avenue in which the program will receive any evaluation They have the say on whether the program is benefitting them or providing to their community needs and if not where the attention should be directed to change things The program s staff will have to plan out their program according to the life and times of the community The community has input to when and where the programs will take place Along with location and time the community stakeholder has the most important opinion to whether or not the program needs to change The Santa Rosa Philharmonic Youth Symphony s children will only be allowed to practice for the symphony a certain amount of hours a week and at a reasonable time or the parents from the community will be frustrated Since most internal evaluations are the results of the community s opinion they can in uence great change within a program Since the community is not able to change some of the rules set forth by the funding institution they compromise Since the program plan must be a nonprofit organization the community needs to remember that any 4 Stakeholder In uences donations or any contributions to the program will not be put toward any one individual who is running the program Each stakeholder for the SRPYS contributes to the program The stakeholders involved in the program are all hoping for one common goal and that is to develop a program that benefits the musical education of the community s young population as well as provide a strong educational background for the city and also provide an opportunity to enrich the fine arts of the city promoting a finer quality of life for the staff and the community By keeping in mind the stakeholders the program will be successful and receive continual assisted welfare in achieving their goals Stakeholder In uences References The George Gund Foundation Nesnadny and Schwartz Cleveland New York Toronto httpWWWgundfdnorg Last Accessed on 102509 What is a 501c 3 Foundation Group Inc 19952009 httpWWW501c3orgWhatisa501c3 Last accessed on 102509
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