Understanding Nonprofit Financial Statements:
Financial Accounting Standards Board (FASB): FASB issues accounting standards for non-profit organizations. Their website provides a wealth of resources, including a Non-Profit Entities resource page: https://www.fasb.org/
Government Accountability Office (GAO): The GAO offers resources and guidance on non-profit accounting standards and best practices: https://www.gao.gov/
Nonprofit Finance Fund: This organization provides training and resources on financial management for nonprofits, including webinars and publications on financial statements: https://nff.org/
Sample Financial Statement Templates:
While specific formats may vary depending on your accounting software, here are some resources offering sample non-profit financial statement templates:
Nonprofit Tech for Good: This website provides downloadable templates for a Statement of Financial Position (Balance Sheet) and a Statement of Activities (Income Statement): https://www.nptechforgood.com/
Charity Navigator: Charity Navigator, a platform for evaluating non-profits, offers a sample Non-Profit Financial Overview that includes elements from various financial statements: https://www.charitynavigator.org/about-us/financials-and-policies/
Additional Resources:
IRS Publication 557: This IRS publication provides guidance on tax-exempt status and recordkeeping requirements for non-profit organizations, including information on financial statements: https://www.irs.gov/forms-pubs/about-publication-557
Disclaimer:
It's important to consult with a qualified accountant for guidance on your specific non-profit financial reporting needs. The resources listed above provide a starting point, but they are not a substitute for professional accounting advice.
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