Nonprofit Accounting Basics

Internal Reporting

A Picture is Worth a Thousand Numbers

Not surprisingly, many nonprofit board members do not fully understand financial statements—despite the fact that understanding those statements is key to good governance.

Designing a Four Star Dashboard

In a previous article, we described the importance of including multiple internal stakeholders when selecting and implementing an Association Management System (AMS).

Statement of Financial Activities

Statement of Financial Activities

It used to be called the income statement, and many nonprofit organizations produce a variety of versions of this report calling it various names such as b

Statement of Financial Position

It used to be called the balance sheet.

The Importance of Cash Projections

It is a prudent financial practice to prepare and operate from a budget. The budget is the annual financial plan for carrying out the strategic plan and mission of the organization.

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