Context: I've worked at non-profits in operations for 5 years and in non-profit accounting for almost 14.
It is very common for annual financial reports to be released up to a year after that fiscal year has ended. This is consistent with when tax returns are due. I'd also add that accounting (and other operational functions) are expensive for small non-profits. Preparing that 990 or annual financial statement alone comes at the opportunity cost of funding programs. The annual tax return (form 990) may not tell the full picture and I caution taking insights from these documents unless youve been trained on how to interpret them.
It is also very common for annual reports to only include a chart with % allocated to general & administration, fundraising and programs. Including a full P&L or balance sheet is often done by larger non-profits who can afford an audit, which costs 5 figures in most cases, especially somewhere like NYC.
throwaway_yikes114 karma
Context: I've worked at non-profits in operations for 5 years and in non-profit accounting for almost 14.
It is very common for annual financial reports to be released up to a year after that fiscal year has ended. This is consistent with when tax returns are due. I'd also add that accounting (and other operational functions) are expensive for small non-profits. Preparing that 990 or annual financial statement alone comes at the opportunity cost of funding programs. The annual tax return (form 990) may not tell the full picture and I caution taking insights from these documents unless youve been trained on how to interpret them.
It is also very common for annual reports to only include a chart with % allocated to general & administration, fundraising and programs. Including a full P&L or balance sheet is often done by larger non-profits who can afford an audit, which costs 5 figures in most cases, especially somewhere like NYC.
OP - You're doing an awesome job. Keep it up.
Edit: fixed typos.
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