Do people who need loans to go to college receive better…

/in /by

Question Answered step-by-step Do people who need loans to go to college receive better… Do people who need loans to go to college receive better scholarship assistance? In a review of 1620 students, 899 of them did not borrow any money to go to college. The average scholarship amount received by this group was $3890. The other 721 students reviewed received an average of $4320. In other words, there was a difference of $430 between the two groups which seems reasonably large. A group of scholarship coordinators uses this difference to state that they do a pretty good job of giving some additional scholarship assistance to students who have to take out loans. The standard deviation of the difference is $340. (Note: This is the SD – not the standard error. So we do not have to divide by the square root of n.)Do a complete hypothesis test, demonstrating your understanding of each step. (You don’t have to explain in extreme detail, just demonstrate your understanding of the steps involved). Use the standard value for alpha. Your answer should be done in the traditional (“older”) hypothesis test format. That is, do not use the confidence interval method for this question. You will do so in the question below. In addition, complete your analysis by answering the following in non-statistical terms: Does this data support the coordinators’ statement? This is because, as we have discussed previously, at the end of the day, the analyst must be able to describe their statistical calculations in “real world” language to assist non-experts in making their decisions. Friendly Hint: Note that we are looking at two groups to see if the difference of $430 is different from 0, or if it isn’t.  Math Statistics and Probability STAT 511 Share QuestionEmailCopy link Comments (0)

You might also like
48. is it a fragment or complete. 49. select the item that is not...
Description just need last part 3 attachmentsSlide 1 of 3attachment_1attachment_1attachment_2attachment_2attachment_3attachment_3.slider-slide > img { width: 100%; display: block; } .slider-slide > img:focus { margin: auto; } Unformatted Attachment Preview 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:    ACC-325-01: Prepare and present financial documents related to nonprofit organizations according to appropriate ethical considerations and legal requirements ACC-325-02: Evaluate and apply legal and tax requirements in the preparation of financial documents for nonprofit organizations ACC-325-03: 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). I. Establishing Your Nonprofit A. Describe the nonprofit organization you envision starting. [ACC-325-03]  Include the following in your description: o The name and mission of the nonprofit; include any other details you feel are important or interesting o The state your nonprofit is located in—preferably the state you are currently located in B. Discuss the corporate structure and corporate governance of your nonprofit. [ACC-325-01]  Explain how your corporate structure meets nonprofit standards. o o What is the makeup of the board of directors? o What qualifications do they have? o What might cause conflicts of interest? o What is the makeup of your finance/audit committee? What is their role? C. Explain the legal requirements and process for becoming a nonprofit. [ACC-325-02]  Consider both federal and state requirements needed to establish the nonprofit. o Research and report what agencies you will need to contact in order to establish your nonprofit. Cite your sources. o Research and report what forms are needed to establish your nonprofit. Cite your sources. 1 II. Reporting and Filing A. Create financial reports for your second year of operations. [ACC-325-02]  Use the provided data in the Final Project Workbook to address the following: o Create a Statement of Financial Position. o Create a Statement of Activities. o Create a Statement of Cash Flows. B. Explain where you will have to submit your financial reports. [ACC-325-02] C. Discuss your annual filing requirements needed to keep the nonprofit status. [ACC-325-01]  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. III. Summary and Reflection A. Create a budget (using the Budget tab in the Final Project Workbook) based on your second year of operations. [ACC-325-01] B. Summarize your budget and make suggestions for the future of your operations. [ACC-325-03]  What would you do differently?  What kind of changes would you make to your budget or operations? C. Summarize your financial analysis. [ACC-325-03]  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? Milestones Milestone One: Establishing Your Nonprofit In Module Three, you will submit a paper discussing the type of nonprofit you would like to use for your final project. This milestone will be graded with the Milestone One Rubric. Milestone Two: Reporting and Filing In Module Five, you will submit a paper addressing the reporting and filing requirements for your identified nonprofit. In order to complete this assignment, you will be using the data provided. This milestone will be graded with the Milestone Two Rubric. 2 Final Project: Nonprofit Organization In Module Seven, you will address the Summary and Reflection section and combine it with the sections you previously completed for the milestones. In order to support this section, you will need to use Excel to create your budget and complete the financial analysis. You will then submit your final project with all feedback implemented from previous milestones. It should be a complete, polished artifact containing all of the critical elements of the final project. This submission will be graded with the Final Project Rubric. Final Project Rubric Guidelines for Submission: In addition to the Final Project Workbook for your budget and financial analysis, submit your nonprofit organization paper as a Word document that is 6 to 9 pages in length (plus a cover page and references) and uses double spacing, 12-point Times New Roman font, and one-inch margins. Include at least two academic references cited in APA format. Critical Elements Establishing Your Nonprofit: Nonprofit Organization [ACC-325-03] Establishing Your Nonprofit: Corporate Structure and Corporate Governance [ACC-325-01] Establishing Your Nonprofit: Legal Requirements and Process [ACC-325-02] Reporting and Filing: Financial Reports [ACC-325-02] Exemplary (100%) Meets “Proficient” criteria and description is exceptionally clear and contextualized with additional details Meets “Proficient” criteria and demonstrates a complex grasp of the corporate structure and corporate governance Proficient (85%) Describes the nonprofit organization, including mission statement and location Needs Improvement (55%) Describes the nonprofit organization but lacks details or does not cover all required elements Discusses the corporate structure and corporate governance of the nonprofit but lacks details or contains inaccuracies Not Evident (0%) Does not describe the nonprofit organization Value 10 Does not discuss the corporate structure and corporate governance of the nonprofit 10 Meets “Proficient” criteria and shows in-depth knowledge of the requirements and process Explains the legal requirements and process for becoming a nonprofit, citing sources Explains the legal requirements and process for becoming a nonprofit but lacks details or contains inaccuracies Does not explain the legal requirements and process for becoming a nonprofit 10 Meets “Proficient” criteria and demonstrates an in-depth knowledge of financial reports Creates all financial reports for the second year of operations in Final Project Workbook Does not create all financial reports for the second year of operations 10 Meets “Proficient” criteria and demonstrates a sophisticated awareness of where the reports need to be submitted Explains where you will have to submit your financial reports Creates all financial reports for the second year of operations but reports contain inaccuracies Explains where you will have to submit your financial reports but contains inaccuracies Reporting and Filing: Submit Your Financial Reports [ACC-325-02] Does not explain where you will have to submit your financial reports 10 Discusses the corporate structure and corporate governance of the nonprofit 3 Critical Elements Reporting and Filing: Annual Filing Requirements [ACC-325-01] Summary and Reflection: Second Year of Operations [ACC-325-01] Summary and Reflection: Future of Operations [ACC-325-03] Exemplary (100%) Meets “Proficient” criteria and illustrates a sophisticated awareness of the requirements Proficient (85%) Discusses the annual filing requirements needed to keep a nonprofit status Meets “Proficient” criteria and expertly uses the second year of operations to inform budget Creates a budget based on second year of operations Meets “Proficient” criteria and provides keen insight on the future of operations Summarizes the budget and make suggestions for the future of operations Summary and Reflection: Financial Analysis [ACC-325-03] Articulation of Response Meets “Proficient” criteria and comprehensively portrays the financial analysis Summarizes the financial analysis Submission is free of errors related to citations, grammar, spelling, syntax, and organization and is presented in a professional and easy-to-read format Submission has no major errors related to citations, grammar, spelling, syntax, or organization Needs Improvement (55%) Discusses the annual filing requirements needed to keep a nonprofit status but lacks details or contains inaccuracies Creates a budget based on second year of operations but lacks details or contains inaccuracies Summarizes the budget and make suggestions for the future of operations but lacks details or the budget contains inaccuracies Summarizes the financial analysis but financial analysis contains inaccuracies Not Evident (0%) Does not discuss the annual filing requirements needed to keep a nonprofit status Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Does not create a budget based on second year of operations 10 Does not summarize the budget and make suggestions for the future of operations 10 Does not summarize the financial analysis 10 Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 10 Total 4 Value 10 100% ACC 325 Milestone Kareem Taha ACC-325-R4653 Accounting for Nonprofit Orgs 21EW4 Nonprofit Organization For my final project I would like to a establish a non-profit called Help the Homeless LLC. The purpose of my nonprofit is to help the homeless to get back on their feet. Help the Homeless, LLC aims to eradicate the impact of displaced persons in Chicago, IL through food programs, housing and job placement as we believe that everyone deserves a second chance and a head start. There are nearly 80,000 Chicagoans that are currently experiencing homelessness and with the COVID 19 pandemic that is expected to grow significantly. My non-profit’s goal is to help reduce that as much as possible I believe we all need a second chance no matter the situation. In order to help my non-profit will be offering a food bank, housing assistance, interview classes, addiction help, and offer new clean clothing. Corporate Structure and Corporate Governance My nonprofit will have a board of directors that will be made of a president, vice president, secretary, treasurer, and some board members that will assist in a strategic way when it comes to management and planning. Each position will be held by someone who is highly experienced when it comes to being a in said title given and previous experience on a board. Also, each board member should not have any conflict of interest when it comes to the nonprofit. The president’s job would require them to be organized, personable and detail oriented. The president I the face of the organization all eyes will be on him or her, they will need to have lots of experience in leading groups through meetings and events. (Milano, 2018) The vice president would serve directly under the president and will fill in if the president is not present during any meetings, speeches or events. The vice president is usually next in line to become the president of an origination when the president steps down. Just as the president the vice president will need to pe organized, experienced, personable, and detail oriented. (Milano, 2018) The secretary of the organization will have a important role, he or she will be responsible for taking notes, recording meeting minutes, submit said minutes for approval, create or schedule appointments for the president and vice president. (Milano, 2018) The treasurer will be responsible for all financial records for the non-profit. The treasurer plays a very important role in the board because they watch the organization’s finances and sees where we stand when it comes to a financial standpoint. The treasurer would need the following skills knowledge in finance, organization, and detail oriented. (Milano, 2018) Board members are usually volunteers that attend meetings, receive updated, and vote on new board members. Said board members should have previous experience being a part of a board also take their position very seriously as people’s lives are at stake. (Milano, 2018) The finance committee will be the business manager, secretary and the treasurer. Their role will be to oversee the finances of the organization. And oversee transaction such as donations, pledges, grants and more. There will be an outside source to audit finances. Legal Requirements and Process In order for me to establish my non-profit in Illinois I would need to select a name first which we have Help the homeless LLC. Next, we would need to recruit at lease 3 directors which will be the president, vice president and treasurer. Then we will appoint a register agent which is responsible for receiving legal notices on behalf of the organization. We will then prepare and file our article of incorporation, this registers the name of our organization. We will then register for an EIN number (form SS-4) with the internal revenue service (IRS). Our eighth step will be establishing initial governing document and policies this will be the organizations bylaws. We will then hold and organizational meeting of the board of directors, here we will approve the bylaws, adopt the conflict-of-interest policy, elect our directors, appoint officers, and approve resolutions such as opening a bank account. This is one of the most vital steps that establish the non-profit. We will then get Illinois state tax identification numbers. Next, we will be applying for a 501(C) this is our tax exemption documentation this helps the non-profit purchase the goods it needs to without pay taxes also we will be able to apply for grants once approved. We will next register for charitable solicitation this will be used for fundraising. Our final step would be obtaining any other business licenses and permits depending if we are offering gaming or things of that nature. (Compliance, 2016) Reference: Compliance, H. (n.d.). Information center. Retrieved March 21, 2021, from https://www.harborcompliance.com/information/how-to-start-a-non-profit-organization-inillinois Milano, S. (2018, December 31). What positions make up a board of directors? Retrieved March 21, 2021, from https://careertrend.com/positions-make-up-board-directors-20326.html Help The Homless LLC Trial Balance as of 12/31/18 Cash Pledges Receivable—Without Donor Restrictions Estimated Uncollectible Pledges Inventory Investments Furniture and Equipment Accumulated Depreciation—Furniture and Equipment Accounts Payable Net Assets Without Donor Restrictions Net Assets With Donor Restrictions—Programs Net Assets With Donor Restrictions—Permanent Endowment Contributions—Without Donor Restrictions Contributions—With Donor Restrictions—Programs Investment Income—Without Donor Restrictions Depreciation Expense Printing and Publishing Expense Rent and Utility Expense Salaries and Fringe Benefit Expense Supplies Expense Telephone and Postage Expense Utilities Expense Totals Debit $156,500 41,000 Credit $4,100 2,800 178,000 210,000 120,000 20,520 196,500 50,500 140,000 378,820 38,100 11,200 30,000 4,190 32,000 288,410 5,940 4,500 6,400 $959,740 $959,740 Figures and data adapted from Reck, Accounting for Governmental & Nonprofit Entities, 18e Help The Homless LLC Statement of Financial Position December 31, 2018 Assets Cash Pledges Receivable Inventory Investments Furniture and Equipment Total Assets Liabilities Accounts Payable Total Liabilities Net Assets Without Donor Restrictions With Donor Restrictions—Programs With Donor Restrictions—Permanent Endowment Total Net Assets Total Liabilities and Net Assets $156,500 36,900.00 2,800 178,000 120,000 $494,200.00 20,520 $20,520.00 196,500 107,180 140,000 $443,680.00 $464,200.00 Help The Homless LLC Statement of Activities Year Ended December 31, 2018 Without Donor Restrictions Revenues, Gains, and Other Support: Contributions Investment Income With Donor Restrictions Total 378,820 11,200 38,100 0 $416,920 11,200 Total Revenues, Gains, and Other Support Expenses and Losses: Program Services: Program 1 Program 2 Program 3 $390,020 $38,100 $428,120 Total Program Expenses Support Expenses: Management and General Fund-Raising $257,008 Total Support Expenses Total Expenses and Losses Change in Net Assets Net Assets, December 31, 2017 Net Assets, December 31, 2018 $114,432 371,440 $18,580 196,500 $215,080 142,576 74,288 40,144 142,576 74,288 40,144 $0 74,288 40,144 $257,008 74,288 40,144 $0 0 $38,100 190,500 $228,600 $114,432 371,440 $56,680 0 $443,680 Help The Homless LLC Statement of Cash Flows Year Ended December 31, 2018 Cash Flows from Operating Activities: Cash Received from Contributors Cash Received as Investment Income Cash Paid to Employees Cash Paid for Operating Expenses Net Cash Used for Operating Activities Cash Flows from Investing Activities: Purchase of Furniture and Equipment Cash Flows from Financing Activities: Proceeds from Contributions Restricted for: Investment in Capital Assets Net Increase(Decrease) in Cash Cash, December 31, 2017 Cash, December 31, 2018 $390,020 11,200 -288,410 -86,504 $26,306 -22,000 38,100 42,406 163,314 $205,720 Reconciliation of Changes in Net Assets to Net Cash Used for Change in Net Assets $56,680 Adjustments to Reconcile Changes in Net Assets to Net Cash Provided Depreciation 30,000 Increase in Net Pledges Receivable -6,000 Increase in Inventory -1,000 Decrease in Accounts Payable -102,594 Net Cash Used for Operating Activities -$22,914 Help The Homless LLC Budget January 1, 2019 - December 31, 2019 Contributions—Without Donor Restrictions Contributions—With Donor Restrictions—Programs Investment Income—Without Donor Restrictions Depreciation Expense Printing and Publishing Expense Rent and Utility Expense Salaries and Fringe Benefit Expense Supplies Expense Telephone and Postage Expense Utilities Expense Change in Net Assets YTD Actual 2018 $378,820 Budget 2019 $416,702 38,100 43,815 11,200 30,000 4,190 32,000 288,410 5,940 4,500 6,400 $56,680 11,984 30,000 4,400 33,600 302,831 6,237 4,725 6,720 $83,989 Numerator Current Assets $494,200.00 Numerator Total Revenues $428,120 Numerator Debt $464,200 Debt $464,200 Numerator Program Expenses $257,008 Numerator Program Expenses $257,008 Liquidity ÷ ÷ Going Concern ÷ ÷ Denominator Current Liabilities $20,520 = Ratio = 24.0838207 Denominator Total Expenses $371,440 = Ratio = 1.1525953 = Ratio = 0.93929583 = 1.04624955 = Ratio = 0.69192333 = Ratio = 5.14 = Ratio = 0.9062319 = Ratio = 0.0937681 = Ratio = 0.29957717 Capital Structure ÷ Denominator Total Assets ÷ $494,200 ÷ Net Assets $443,680 Program Effectiveness ÷ Denominator Total Expenses ÷ $371,440 Efficiency ÷ ÷ Denominator # of Clients Served 50,000 Fund-Raising Ratio Numerator ÷ Denominator Total Contributions - Fund Raising Costs Total Contributions $387,976 ÷ $428,120 Numerator Fund-Raising Expenses $40,144 Fund-Raising Efficiency ÷ Denominator Public Support ÷ $428,120 Investment Performance Numerator ÷ Denominator Interest and Dividend Income +/- Gains and Average Fair Value of Losses Investments $56,680 ÷ $189,200 Purchase answer to see full attachment Tags: non profit organization Liquidity Ratio Financial Summary current financial position supplements and investments User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
https://washtenaw.ensemblevideo.com/Watch/t8TLf24Q...
PLAYA DORADA TENNIS CLUB: EXPANSION STRATEGY What are the costs...
What are similarities between clinical and public health data use...
Mr. Jones is a 56-year-old client who has been experiencing...
A number of countries are offering procedures in their countries...
After viewing the Video on Debra Coin, take a stand. Are your for the prosecution or will you stand with the defense.