Financial Reports

Definitions, standards, and guidance to help understand financial reports (the income statement, balance sheet, and audits) and how to communicate financial information internally and externally. 

Resources in Financial Reports

This tool provides the description and calculation of 14 ratios including a mix of balance sheet and income statement ratios.

This template serves as a sample of a Request for Proposal that your nonprofit may submit to a company for the preparation of yearly audited financial statements and related filings for a three year period

Balance Sheet Basics refreshes key terminology. Additionally, learn how the balance sheet works with your income statement and how to report restricted funds on your balance sheet.

The balance sheet has a lot of valuable information. Our Balance Sheet Cheat Sheet highlights six key measures that are useful for all types of nonprofits.

This video explains cash and accrual accounting, two distinct accounting methods.

Learn key terminology, including a brief overview of depreciation expense and how restricted contributions can be reported on the income statement.

This worksheet and accompanying guide translates the financial data from the IRS 990 into easy to use financial report formats (year-end Balance Sheet and Income Statement) and several useful ratios that can be used as one part of a review or analysis or a nonprofit.

This resource article aims to define unrestricted, temporarily restricted, and permanently restricted income, and give nonprofit leaders the tools to record, report, and effectively manage contributed income and net assets.

In this video, Nonprofits Assistance Fund defines different contribution categories and explains how to account for and manage restricted funds.

In this video, learn about the audit process, review the contents of an audit report, and discuss how to use this information to improve your organizational management.

This resource is an overview of different overhead expense classifications, and what may or may not be included in IRS Form 990 and FASB.

This tool provides calculation of 14 ratios including a mix of balance sheet and income statement ratios. Individual nonprofits must decide for themselves which calculations are meaningful and what benchmarks will be useful for their situation and goals.

This resource outlines the types of financial reports that are needed as well as how to present the information to the Board.