After nearly 20 years of living with the current not-for-profit reporting model, users of financial statements of nonprofit organizations in many cases still do not have a true understanding of an organization’s financial position and performance, and the achievement of its mission. The current design of a nonprofit’s financial statements is a story of revenue inputs and cost outputs; and not of performance outcomes. For those organizations that don’t prepare an annual report, the annual financial statements are one of the most important documents that grantors, creditors, donors and watchdog agencies use to understand your progress toward achieving your mission and strategic imperatives. This session will focus attendees on best practices for preparing financial statements and related disclosures to more meaningfully convey your financial position, performance and achievement of your mission to key stakeholders.
- Understand what users of your financial statements, including grantors, creditors, donors and watchdog agencies focus on when reviewing your annual financial statements
- Learn how the significant financial and non-financial information included in your financial statements and related disclosures can be used to more effectively communicate your message
- Learn how to better align your key financial and programmatic strengths included in your financial statements with your strategic plan and to communicate progress and successes to stakeholders