Statement of Activities Explained: Nonprofit P&L & Restricted Funds - Chazin скачать в хорошем качестве

Statement of Activities Explained: Nonprofit P&L & Restricted Funds - Chazin

What's the nonprofit version of a P&L? It's called the Statement of Activities! In this video, we break down this essential financial statement, explain how restricted vs. unrestricted funds work, and share best practices for spending donor money the right way. TIMESTAMPS: 0:00 - Introduction 0:13 - What is the Statement of Activities? 0:30 - Two Primary Financial Statements for Nonprofits 0:54 - The LeBron James Analogy [middle sections] 7:18 - Temporarily Restricted Funds Explained (Baseball Program Example) 7:35 - Without Restriction Category: Unrestricted vs. Board Designated 8:02 - Key Difference: Donors Restrict, Boards Designate 8:31 - Board Designated Funds: Can Be Undesignated 9:06 - Best Practice: Spend Restricted Money First 9:57 - Baseball Program Example: How to Spend Restricted Funds Correctly 10:26 - NEVER Spend Restricted Money on Unrestricted Purposes 10:42 - Dealing with External Parties: IRS & Audits 11:01 - Form 990: Your Public Annual Tax Return 11:22 - Do You Need an Audit? State Requirements Explained 12:06 - What's Next in Part 5 WHAT YOU'LL LEARN: The difference between Statement of Activities (nonprofit) and P&L (for-profit) How the Statement of Activities is like LeBron James' basketball season The two main categories: With Restrictions vs. Without Restrictions What temporarily restricted funds are and how to use them The difference between donor restrictions and board designations Why boards can undesignate funds (but can't unrestrict them) Best practices for spending restricted money Form 990 requirements and why it matters When your nonprofit needs an audit vs. a review 🔔 SUBSCRIBE for Part 5 (final video) of our Not-for-Profit Financial Statements series! 👉 NEXT VIDEO: Part 5 - Statement of Financial Position (Balance Sheet) PREVIOUS VIDEO: Part 3 - How to Budget ABOUT THIS SERIES: This is Part 4 of our 5-part series on Not-for-Profit Financial Statements with Jackie McLaughlin from Chazin. NEED HELP? Chazin provides outsourced accounting services for nonprofit organizations. 🌐 Website: https://hubs.la/Q03YDG7W0 #StatementOfActivities #NonprofitFinance #RestrictedFunds #UnrestrictedFunds #NonprofitAccounting #Form990 #NonprofitAudit #DonorRestrictions #501c3 #CharityFinance #NonprofitCompliance #FinancialStatements