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A Board Member’s Guide to Nonprofit Accounting
You don’t have to be an accounting expert to be a nonprofit board member. But you should know the basics.
Finances are an integral part of every tax-exempt organization. As a board member, you really can’t understand how your nonprofit works, or the rationale behind key decisions, until you understand the financials. That’s what this guide is all about. In this guide, we’ll introduce you to the key accounting terms and concepts that every nonprofit board member should know.
By the end, you’ll have a basic understanding of nonprofit accounting. You’ll also know how to read and interpret key documents—like your Statement of Activities and Statement of Financial Position—so you can make data-driven decisions with confidence.
What’s Inside:
- NFP Accounting: 6 Key Concepts
- Budgeting Basics
- Statement of Activities: A Window into Your Organization’s Financial Sustainability
- Statement of Financial Position: a Snapshot of Your Organization’s Assets and Liabilities
- All About Audits
Click here to download the guide.
We’re Here to Help
Since 1974, Dugan + Lopatka has served thousands of Chicagoland businesses and tax-exempt organizations. As nonprofit specialists, we help you maintain compliance, create proactive strategies, and build a smarter organization.
From auditing and advisory to tax preparation and more, we are here to help you achieve your goals. That’s Accounting for What Matters.
Contact our team today or learn more on our NFP industry page.