May 1, 2023
Nonprofit financial reports are documents that provide information about the financial activities of nonprofit organizations. These reports typically include a balance sheet, income statement, statement of cash flows, and other financial information necessary to assess the organization's financial health. Various stakeholders, such as donors, grantmakers, board members, and management, use nonprofit financial reports to make informed decisions about the organization's operations and ensure transparency and accountability in using funds. Nonprofit organizations must prepare accurate and timely financial reports to maintain their stakeholders' trust and meet legal and regulatory requirements. In today’s podcast, Stephen King from GrowthForce and Stephen Halasnik from Financing Solutions discuss the top seven financial reports executive directors need to run their nonprofits.