How well is debt managed by nonprofits?

Little is known about why nonprofits accrue debt, how much they owe, and whether the funds they borrow are used productively. This article distinguishes between productive, problematic, and deferred debt. Employing a data base representative of 114,726 tax-filing charitable nonprofits in the United States in 1986, it examines the pervasiveness of nonprofit debt and the relation between this debt and nonprofit financial health. The analysis finds that over 70 percent of the nonprofits hold debt, the distribution of this debt is highly concentrated, and the level of debt and leverage varies with asset size and type of activity. Nonprofits with higher leverage and absolute debt levels are financially healthier than those with lower levels. While the analysis does not determine whether financially stronger nonprofits are better able to borrow, the results support the view that borrowing in the nonprofit sector is economically efficient.     

The minds of a medical director

This article is offered in a nod to all those readers who have been exposed to "whole brain" theory, either through the American College of Physician Executives or elsewhere. As managers struggle with balancing the "left brain" and "right brain" aspects of their work, the author says, they might consider exploiting a third area of activity, or inactivity--the "no brain." This center position can be especially effective in dealing with the high-technology aspects of delivering health care.     

Touristic authenticity,touristic angst,and modern reality

The tourist has become the symbol of a peculiarly modern type of inauthenticity. This paper explores the criticisms that have been directed at the reality experiences of the tourist. In so doing, the following inexhaustive typology of touristic realities is developed: 1) the first-order or true tourist, 2) the second-order or Angst-ridden tourist, 3( the third-order or anthropological tourist, and 4) the fourth-order or spiritual tourist. Each of these types represents a progressively more intense search for reality through travel. Each is, however, criticized for participating in its own form of inauthenticity.After exploring the reality experiences and criticisms of each of these travellers, the paper turns the tables on the cultured despisers of tourism to argue that perhaps the lowly first-order tourist is not so inauthentic after all. True, this traveller may not be having a real heroic adventure, but such is not the goal. Rather, the reality experienced by the first-order tourist is a pleasurable liberation from the normal concerns of everyday life which simultaneously reaffirms commitment to that reality. Quite frequently the first-order tourist is less concerned about having a real experience in the visited place than in experiencing family and friendship relationships-relationships completely ignored by the anti-touristic tourists in their search for authenticity in someone else's reality.The author would like to thank Peter L. Berger, Harry C. Bredemeier, Warren I. Susman, and M. Kathy Kenyon for their comments and suggestions on earlier versions of this paper. This research was supported in part by NIMH grant no. 5 T32 NH14660.     

Human genetic technology: who shall control?

The biotechnical "revolution" has fast come upon us. It promises to produce both substantial benefits and difficult dilemmas for individuals and society. Despite the growing attention being paid to biotechnology, a major unanswered question is who shall control the development and use of the powerful array of human genetic and reproductive innovations. Should the decisions be left to individual consumers and private industry or should they be made by the government or other social institutions? After briefly reviewing development in human genetics and reproduction and describing trends toward commercialization of them, this article discusses the dilemmas these trends raise for a democratic society. It argues for the urgent need to delineate societal goals and priorities for the future and for technology assessment as early as possible in the developmental process. The article concludes by presenting some examples of the social policy problems now emerging.