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Nonprofit Financial Statements And The Story They Tell.
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Numbers. Especially numbers on a financial statement. Did you realize that numbers tell a story...the story of the priorities, focus, effectiveness, and challenges of an organization.
On today's episode, Tim and Nathan dive into the primary financial statements that a nonprofit should have and the story they each tell. Tim breaks down each statement and what to be looking for. 4 practical tips are provided to Executive Directors on what to do with the financial statements and what to look for.
Here are three links to resources that we found helpful in explaining nonprofit financial statements:
- https://www.springly.org/en-us/blog/essential-nonprofit-financial-statements/
- https://donorbox.org/nonprofit-blog/nonprofit-financial-statements
- https://www.accountingcoach.com/nonprofit-accounting/explanation/2
Disclaimer: Tim and Nathan are not financial experts and do not claim to be on this podcast. They share from their experiences and understanding of leading in the nonprofit world. Statements made on this podcast should not be considered financial advice. You should consult with a nonprofit financial expert before taking any financial action within your organization.
The Hosts of The Practice of NonProfit Leadership:
Tim Barnes serves as the Executive Vice President of International Association for Refugees (IAFR) and can be contacted at tim@iafr.org.
Nathan Ruby serves as the Executive Director of Friends of the Children of Haiti (FOTCOH) and can be contacted at nruby@fotcoh.org.
All opinions and views expressed by the hosts are their own and do not necessarily represent those of their respective organizations.
The Hosts of The Practice of NonProfit Leadership:
Tim Barnes serves as the Executive Vice President of International Association for Refugees (IAFR)
Nathan Ruby serves as the Executive Director of Friends of the Children of Haiti (FOTCOH)
They can be reached at info@practicenpleader.com
All opinions and views expressed by the hosts are their own and do not necessarily represent those of their respective organizations.
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