Statement of Financial Position

The Statement of Financial Position shows what your organization owns (assets), what it owes (liabilities), and your net assets at a specific point in time. This is the nonprofit equivalent of a balance sheet, and it's one of the primary financial statements your board and auditor will ask for.

Your board needs to know whether the organization is financially healthy. Funders want to see that their grants are being managed responsibly. An auditor will request this statement as one of the first items in an engagement. The Statement of Financial Position answers the fundamental question: "Where do we stand financially right now?"

• Posted transactions in at least one accounting period (a posted transaction is one that has been finalized and added to your books)
• Asset, liability, and net asset accounts set up in your chart of accounts

Running the report

1. Go to Reports > Financial Position (in the sidebar).
2. Set the date range using the filter controls. The report shows balances as of the end date you select.
3. Optionally filter by fund to see the financial position for a specific fund only.
4. Optionally filter by fiscal year to quickly set the date range to a full accounting period.
5. Click "Apply" to generate the report.

Reading the report

The report is organized into three main sections:

Assets — What your organization owns. This includes bank accounts, accounts receivable, and other resources. Each asset account shows its current balance, with a total at the bottom of the section.

Liabilities — What your organization owes. This includes accounts payable, accrued expenses, and any other obligations. Each liability account shows its current balance, with a total at the bottom.

Net Assets — The difference between what you own and what you owe. Net assets are split into two categories: - Without Donor Restrictions — Money your organization can use for any purpose. - With Donor Restrictions — Money that donors have designated for a specific purpose or time period. A fund is like a separate bucket of money within your organization, each tracked independently.

At the bottom, the report shows Total Liabilities and Net Assets, which should equal your Total Assets. If these don't match, something in your books needs attention.

Exporting the report

1. Click "CSV" to download a spreadsheet version with all account details, suitable for further analysis in Excel or Google Sheets.
2. Click "PDF" to download a formatted document suitable for board packets, audit requests, or funder reports. PDF export requires a Standard plan or higher.

• Assets = Liabilities + Net Assets. This equation must balance. If it doesn't, review recent transactions for posting errors.
• The date range covers the period you intended — this is a point-in-time snapshot, so the end date matters most.
• Net asset balances align with what you expect based on your fund activity.
• If you filtered by fund, verify you're looking at the right fund.

• Confusing this with the Statement of Activities — Financial Position is a snapshot at a point in time (what you have now). Activities covers a period (what happened over time). Both are needed for a complete financial picture.
• Running the report before reconciling — If you haven't reconciled your bank accounts recently, the asset balances may not match your actual bank balances. Run a reconciliation first for the most accurate picture (see Bank Reconciliation).
• Forgetting unposted transactions — Only posted transactions appear on this report. If you have draft transactions that haven't been finalized, they won't be reflected here.
• Reading net assets as cash — Net assets represent the difference between assets and liabilities, not how much cash you have. You could have high net assets but low cash if most of your assets are in receivables or equipment.

Accountant note: This report follows ASU 2016-14 (FASB ASC 958-210), presenting net assets in two classes: with donor restrictions and without donor restrictions. The prior three-class model (unrestricted, temporarily restricted, permanently restricted) was replaced by this two-class presentation for fiscal years beginning after December 15, 2017.