A financial statement is used as a record of all the financial activities of an individual. Such statements are also used to record the finances of other entities such as institutions and organizations. For nonprofit organizations, there are four types of statements comprising of an income statement, a balance sheet, a statement of functional expenses, and a statement of cash flows. Nonprofit financial statement templates help to make these statements.
6 Steps to Create Nonprofit Financial Statements
Step 1: Do the Documentation
To make financial statements for any organization, it is mandatory that you know about the finances of that organization. For this, you need to document the funds. This mainly includes the incoming funds that the organization procures during a fiscal year. The sources, as well as the income level, may differ each month. Which is why you must document the process each month.
Step 2: Calculate Outgoing Funds
A financial statement cannot be prepared if you only know the incoming funds of the organization. You also need to know about the outgoing funds. In other words, you need to calculate how much expenses the organization is making. This section should also include the salaries and wages of the employees.
Step 3: Add Fixed Operational Costs
There are mainly two types of costs that are incurred in any organization. This includes fixed costs and flexible costs. The fixed operational costs are those expenses that the organization cannot do without such as the wages and salaries of the employees, rental fees of the office, utility bills such as electricity, water, etc., and others. These expenses may rarely vary from month to month. You need to add up all of them to get an annual amount.
Step 4: Add Flexible Operational Costs
As already established, there are two types of operational costs. After the section about the fixed costs, you need to talk about the variable costs of the organization. These costs are those that are in control of the company and will surely vary from month to month. These include the purchase of raw materials, the purchase of resources, the employment of new equipment, etc.
Step 5: Add Nonprofit Expenses
Once you have calculated both the costs, you need to calculate the total expenses for the organization. To do this, you have to add up all the outgoing expenses of the organization. This total amount must reflect the sum of a whole financial year. When you have the final result of this calculation, you have to subtract it from the total incoming funds. This will allow you to get the total nonprofit expenses.
Step 6: Provide a Conclusion
When you have all the finances in one place, you can make the financial statement. After inserting the values, you need to conclude the statement with an explanation of how the organization manages its finances. In other words, you need to outline how the organization will spend these funds.
9+ Nonprofit Financial Statement Templates
1. Nonprofit Financial Statement in DOC
Nonprofit financial statements are made to determine the finances of the nonprofit organization. These statements are generally of four types, each of which outlines a different aspect of the fiscal balance. No matter what kind of financial statement you are making for your organization, this statement template in DOC can assist you. This template can help you make good such statements.
2. Charitable Trust Financial Statement Report
Financial statements differ from each other based on the organization you are making it for. These statements outline both the income as well as the expenditures of the company. If you want to make a financial statement report for your charitable trust organization, then you need to download this statement sample template. You can download this template in PDF format.
3. Charitable Foundation Financial Statement
To know how to efficiently operate the finances of the organization, a nonprofit foundation needs to prepare financial statements. Are you having trouble making these statements for your organization? Then download our Charitable Foundation Financial Statement template now! With this template, you will be able to create working financial statements.
4. Basic Nonprofit Financial Statement
Making financial statements is not easy. However, it is mandatory to know how to make them no matter what kind of charitable organization you are working for. In the case that you don’t, do not worry, we can help. Our statement template is the solution to all your problems. This PDF template offers you a sample basic financial statement that you can edit according to your needs.
5. Nonprofit Financial Statement Example
Are you a rookie at making financial statements? Then we suggest that you take a look at this sample statement template that we are providing before you start working on yours. This template comes with a file containing an example of a nonprofit financial statement that you can use as a guide to making one for your needs. The template is available in sizes A4 and US Letter.
6. Nonprofit Financial Statement Sample
A typical nonprofit financial statement must include the income statement, a balance sheet, a statement of functional expenses, and a statement of cash flows. But why go through all this hassle when you can get an editable such statement at your disposal? Yes, that is true. And to get that file, all you have to do is download the template on your PC.
7. Simple Nonprofit Financial Statement
The most important thing to remember while making a nonprofit financial statement is to make it simple enough for everyone to understand. However, everyone might not be aware of how to do it. This is why we are offering our Simple Nonprofit Financial Statement template. With this template, you will be able to create simple such statements suited to your organization’s needs.
8. Sample Nonprofit Financial Statement
Finances are the main part of running an organization. Financial statements make the management of these finances easier and simpler. And this nonprofit financial statement sample makes the process of creating this statement easier. Download our template to get access to a model statement that is fully editable and printable.
9. New Nonprofit Financial Statement Template
The only way to know what amount of cash is coming into the organization and what amount of cash is going out is to make professional financial statements. You can make this statement easily with the help of this statement template. This template is the best tool to use to make the financial statements for your organization. So download this template now to make the file yours forever!
10. Nonprofit Financial Statement Template
Are you tired of having to write the financial statements for your organization without any help? Then this NonProfit Financial Statement Template is just the thing for you! This template will assist you as a guide in writing solid financial statements for your organization’s needs. All you need to do is click on the download button to make the file yours.