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Financial Management - Financial Reporting

Basics of Nonprofit Financial Statements

Compass Point's Nonprofit Genie provides a summary and samples of the four primary  types of financial statements: Statement of Financial Position (Balance Sheets), Statement of Activities (Income Statement), Statement of Cash Flows and the Statement of Functional Expenses.

Form 990 FAQs

Compass Point's Nonprofit Genie provides answers to frequently asked questions about Federal Form 990.

IRS Website

Section for charities and other tax exempt organizations.

Income Tax Issues Affecting Small Nonprofit Organizations

The VA Society of CPAs provides an overview of the world of tax for small nonprofits.

FASB 116

The Non-profit Resource Center provides an analysis of FASB 116 "Accounting for Contributions Received and Contributions Made".  A summary is also available from FASB.

FASB 117

The Non-profit Resource Center provides an analysis of FASB 117 "Financial Statements of Not-For-Profit Organizations".   A summary is also available from FASB.

OMB

The Nonprofit Resource Center has a menu pointing to the OMB circulars that affect nonprofits who receive federal funding.  The OMB website has their Grant Management Forms - A quick list of links to federal forms for anyone who receives funds from the federal government and the related circulars.  Forms can be printed and then filed with the appropriate agency.  The AICPA website has a guide and FAQs on OMB 133.
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