Understanding the Financial Statements of Nonprofit Organizations

A nonprofit organization needs focused expertise in its executives and on its board of directors. Frequently, those people who serve as executives and board members have a passion for the mission but less enthusiasm and interest in the financial, legal, and regulatory side of the organization. Although it is commendable that nonprofits exist to provide services to those in need and that board members make contributions in their various areas of expertise, it is also important to remember that a