Select one (1) not-for-profit organization in an area of interest to you and review the financial
statements and audit report for the organization. The financial statements and audit report of the
not-for-profit organization should be readily and publically available on an active Website.
Write a three to five (3-5) page paper in which you:
1. Analyze the selected not-for-profit’s financial statements to determine if the statements
conform to Financial Accounting Standards Board (FASB) guidance in Statement No.
117, Financial Statements of Not-for-Profit Organizations (FASB ASC 958-205-45).
Explain the selected organization’s use of the three (3) fund categories. Recommend at
least two (2) areas of potential interest to the stakeholder concerning the status of revenue
and expenses.
2. Analyze the organization’s statement of cash flows. Explain the format that the
organization utilizes, including any unique areas of emphasis that differ from-GAAP
accounting format.
3. Compare the organization’s reporting of pledges and contributions to its reporting of
exchange transactions. Discuss the funds that are utilized.
4. Assess the fiscal condition of the selected organization utilizing and interpreting financial
indicators, using financial ratios that are widely accepted as being indicative of fiscal
health. This assessment should also be expanded to include fund-raising analysis,
program review, contributions, and grant analysis and revenue analysis.