Second, watch this video
The second financial report board members should get regularly is the Income Statement. This can also be called the Profit & Loss Statement. It shows the work of the organization. Watch this video for ideas on how you can bring a deeper conversation about your Income Statement into your board meetings.
Third, take Two Steps Forward
We invite you to take two steps forward from where you are now. Here are two topics to explore and bring back to your organization.
- Explore fundraising and the law. “Let’s Go Legal” explores the five buckets of nonprofit law. The third one is all about fundraising. Watch the video and download the Nonprofit Legal Checklist.
- Learn more about IRS Form 990s. We focus on the 3 key pages of the 990, but there is more to know. Learn more about the four reasons you should care about your organization’s 990: audits, governance, marketing, and monitoring.
Fourth, share what you’ve learned
Find the entire Finance Unlocked for Nonprofits curriculum, videos, kit, and key documents here. Invite fellow board members to watch a video.
Have questions? Connect with your peers in the nonprofit sector through the Next Level Nonprofit LinkedIn group.