Nonprofit Financial Statements

The Balance Sheet, often called the Statement of Financial Position, summarizes what your nonprofit owns (assets), owes (liabilities), and the net assets (equity) that remain. It’s a critical tool for assessing your organization’s financial stability and capacity to sustain its mission. What are the Key Components of the Nonprofit Balance Sheet? Assets: Assets are resources …

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Understanding your nonprofit’s financial statements is crucial for making informed decisions and ensuring your organization’s sustainability. In this first part of our series, we will break down the Income Statement—one of the most essential financial statements for your nonprofit. Understanding the Nonprofit Income Statement The Income Statement, also known as the Statement of Activities, provides …

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