Presenting Financial Reports

Your board members have a fiduciary responsibility to monitor your nonprofit’s budget and financial health.  Reviewing financial reports allows them to ensure your organization is managing its budget properly and complying with Generally Accepted Accounting Principles (GAAP).  Having clear and accurate financial reports can go a long way towards establishing trust in potential donors support. 

Nonprofit Financial Reports allow you to

• Improve financial decision making
• Secure more funding
• Engage program managers

Four types of reporting are needed by the board:

• Compliance-audit, taxes, and grants
• Evaluation-organization and program activities
• Planning-budgeting, projections, and trends
• Taking Action-External changes, addressing management problems

We will review the financial reports to be presented at every board and finance committee meeting.  We will review the four types of reporting needed by the board.  We will review Financial Difficulty Reporting.  The Key Steps to Presenting Financial Information to the Board will be reviewed along with tips and tricks that we have found useful.  We will finish with how to prepare your Nonprofit Financial Reports.

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Analyzing Financial Information Using Ratios

Nonprofit Organizations spend the majority of their time trying to understand their financial reports.  However, much can be learned from the analysis and interpretation of what the financial information is telling you.  For a more technical analysis, financial ratios can be used to deepen your understanding and interpretation of financial results.

Financial Ratios are useful if they are calculated using accurate reports and consistently applied from period to period.   Also, they should be used in relation to benchmarks or financial goals.

We will review the most common financial ratios used by nonprofits to help them understand their financial condition.  The ratio calculation worksheet is available for download.  The balance sheet ratios include the current ratio and days cash of hand.   The income ratios includes a reliance ratios. The expense ratios include personnel and benefit costs ratios.

Beyond understanding the reports, much can be learned from the analysis of information and the interpretation of what it is telling you.  The basic analysis includes comparing financial reports to a benchmark such as the budget or the financial reports from the previous year and does this meet our expectations.  Beyond understanding reports, much can be learned from analysis of information and interpretation of what it is telling you.

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Common Financial Statement Errors for Nonprofit Organizations

We will review the common financial reporting errors and disclosure errors.

The Nonprofit financial reports we will review common errors for the statement of financial position, statement of activities, statement of cash flows, and the statement of functional expenses.

We will review common errors for the notes to the financial statements which are commonly disclosed in the audited financial statements.

We will review errors common to net asset classifications.

Contact us to identify & correct errors in your financial reports.

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MIP User Conference 2026 Follow Up

Jeron and I were pleased to once again present and exhibit at the MIP User Conference in Las Vegas from October 13th to October 15th.

We presented the CFO, MIP, and Microix information to 375 attendees.  We are partnering with NP Solutions to follow up the MIP Annual User Conference with free monthly MIP User Group Meetings.  We had approximately 40 attendees express an interest in the MIP User Group and the Nonprofit Financial Forum.

The MIP User Group is a free educational webinar to provide you with helpful tips and tricks, best practices, and software updates.

The MIP User Group purpose is as follows:

• Learn best practices from nonprofit accounting experts
• Improve your use of MIP Fund Accounting & MIP Cloud
• Network with nonprofit finance peers
• Stay compliant with audits, grants, and reporting
• Ask your questions and get real-time guidance

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Our firm provides all the levels of accounting your nonprofit needs including bookkeeping, accounting, controller, CFO, and software advisory services for nonprofit accounting software including MIP, Microix, QuickBooks, Sage Intacct and AccuFund