Just like business establishments, nonprofit organizations use sheets as well to record information that may be needed for different operations and processes where the members of the organization are involved in. Nonprofit sheets may come in a variety of forms depending on the purpose of its creation. It can be a balance sheet, a budget sheet, or even a fact sheet.
Using a sheet for creating a record can be easier if you already have a format to follow. Having a guide will allow you to create an effective content layout. If you want to have references in making the specific nonprofit sheet that you need, what you need to do is to just browse on the samples available in this article.
Having a fact sheet in your nonprofit organization is a great way to help inform the public on what your organization is all about thus enticing your potential donors, volunteers, board members, and potential partners in your organization. If you plan to have such effective documents then you can go ahead and download our very own fact sheet templates or follow the guidelines provided below.
Before going to the actual process of creating one, you must know first what things to include in your nonprofit sheet:
It has been clearly defined that a nonprofit organization is designed in business not to gain profit. However, it does have accounting transactions that are handled differently from an organization that is running for profit. A profit organization and a nonprofit organization’s balance sheet (balance sheet template) clearly differ in so many ways and it is still very important for one to be aware of that. Below are the following terms commonly used in a nonprofit accounting sheet.
Net assets – net assets in nonprofit organizations are those assets having fewer liabilities thus often called funds. If a profit business is showing earnings, a nonprofit’s asset is showing statements about net assets in three classifications:
Grants – speaking of grants, they are the most important aspect in a nonprofit organization. They mostly come from foundations and governments and is usually at large extent specifically for programs.
Financial Report – a financial report is still part of a nonprofit organization’s standard reports. A summary of income statements is shown and instead of profits, just the change of assets will be seen in a nonprofit org.
Tax – tax returns and pay taxes are still filed by a nonprofit org, especially when a nonprofit competes with a profit organization. However, tax exemptions are still issued accordingly.