Statement of Financial Position
Similar to a for-profit corporation’s balance sheet, a Statement of Financial Position breaks down assets, liabilities, and net assets. It’s an overall snapshot of the health of your nonprofit.
Statement of Activities
A nonprofit’s primary purpose is to provide services or programs that meet specific needs. A Statement of Activities reports revenue and expenses with donor restrictions and without.
Statement of Functional Expenses
Reporting expenses by nature and function in a spreadsheet format helps track activities and accomplishments.
The operating budget breaks down the annual projected revenue and expenses for the organization. It breaks down your revenue by different funding sources and your operating expenses by program and overhead costs