The statement of the nonprofit financial position report provides an overview of what an organization is worth and a birds eye view of the health of the organization. Net assets, presented in the nonprofit Statement of Financial Position report, reveal total revenue, assets and liabilities.[Read more…] about Statement of Financial Position: What are Nonprofit Net Assets?
Nonprofit Financial Statements
Financials for nonprofits require an in-depth understanding of the sector as well as exposure to some of the challenges that make it so unique.[Read more…] about 8 Reasons Why Financials for Nonprofits Are More Difficult than For-Profits
Nonprofit cash flow forecasts predict when revenue comes in and when revenue goes out. It is an excellent tool to avoid cash shortfalls. By pinpointing deficits during a 12-month period, your nonprofit can avoid a crisis before it becomes a major problem.[Read more…] about Nonprofit Cash Flow Forecasts: How To Avoid Deficits
Nonprofit financial transparency is essential, both legally and ethically, for building trust and accountability to funding sources.[Read more…] about Nonprofit Financial Transparency: Best Ways to Build Donor Trust
GAAP for nonprofits has set new fund classifications under FASB, altering the presentation of financial reporting.[Read more…] about GAAP for Nonprofits: Standards for Financial Reporting