1. When is it necessary for a nonprofit to create a capital budget?
2. What are the main sources of revenue for nonprofit organizations? Which have been increasing and which have been decreasing before, during, and possibly after the financial crisis beginning in 2008?
3. What is the present value of an annuity of $6,000 per year if the first cash flow is not received until four years from today and the last received 18 years from today? Use a discount rate of 8%.