Please answer the following questions:
1. In about 100 words, provide a contextual statement in which you lay out the way in which SOX applies legally to nonprofit organizations

2.In about 100 words, describe a process of internal financial controls that can improve financial management in a small non-profit organization.

3. In about 100 words, discuss how a nonprofit board can organize itself to support conformity with the spirit and legal requirements of the Sarbanes-Oxley Act. 

4.A member of the district board has added up the payments made on the bond, divided them by the initial issuance, and argues that the bond is going to require interest payments of $205M on a bond issuance of $150M.  He suggests that the interest calculation should take the percentage paid on the loan, and then divide by 12 to get the interest cost.  Explain to the board member why it is important to use the TIC approach to calculate the interest cost.   In particular, explain why it is important to take into account the timing of payments from a discounting perspective. In about 100 words

5. What factors should one organization consider in deciding whether a total margin or operating margin is too low?  How concerned should a nonprofit be about its operating margins? In about 100 words