Description
https://www.pacificabs.com/knowledge-center/blog/numbers-with-purpose-statement-of-financial-position-for-nonprofits/ 61% of donors claim to choose which nonprofits to support based on how "well" the organization utilizes its funding - Source Donors and stakeholders want to know that their contributions are being used effectively to further the organization's mission. To achieve this transparency, nonprofits rely on a variety of financial statements, one of the most crucial being the statement of Financial Position, also known as the balance sheet. We are here to help mission-centric leaders like you better understand the statement of financial position or balance sheet that your nonprofit organization should be keeping. It provides a snapshot of what your nonprofit owns and owes at a specific point in time, serving as a financial guide for informed decision-making and showcasing your dedication to financial stewardship.
Numbers with Purpose: Statement of Financial Position for Nonprofits
