Webinar | Understanding Nonprofit Financials

Join Park Bank as we sit down with Nick Curran, owner of Numbers 4 Nonprofits, as he discusses the importance of nonprofit organizations understanding their monthly finances. Having worked with nonprofits for nearly 20 years as both an auditor and as the owner of Numbers 4 Nonprofits, Nick will discuss the basics of nonprofit financials and the importance of timely month-end financials as a way to help nonprofits manage money with mission

0:00 Introduction
4:00 Statement of Financial Position (SFP) - What Is It?
4:45 Accrual vs Cash Based Accounting
6:15 Importance of Timeliness
6:50 Are Your Financials Audited?
8:11 SFP - Why Cash Is On Top
11:21 SFP - Receivables
16:04 SFP - Prepaid Expenses
18:04 SFP - Fixed Assets
20:11 SFP - Investments
23:24 SFP - Liabilities
28:35 SFP - Debt
29:50 SFP - Net Assets
32:15 LUNA
32:25 SFP - Revenues
37:44 Questions From The Audience
42:20 SFP - Expenses
44:05 SFP - Program Percentage
45:25 Recap
52:30 Wrapping Up