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The Balance Sheet (Also known as a “Statement of Financial Position”)
Sources:
https://nonprofitsassistancefund.docalytics.com/v/balance-sheet-cheat-sheet-
http://www.nonprofitfinancefund.org/sites/default/files/22-1_christopher_why-do-balance-sheets-matter1.pdf
Definition : A statement of the assets, liabilities, and capital of a business or other organization at a
particular point in time, detailing the balance of income and expenditure over the preceding period.
Overview: The balance sheet - also called the Statement of Financial Position - serves as a snapshot,
providing the most comprehensive picture of an organization's financial situation. It reports on an
organization's assets (what is owned) and liabilities (what is owed). The net assets (also called equity,
capital, retained earnings, or fund balance) represent the sum of all annual surpluses or deficits. The
balance sheet also indicates an organization's liquidity by communicating how much cash an
organization has at present and what assets will soon be available in the form of cash.
BALANCE SHEET EXAMPLE 1
CIDER HILL PLAYERS
STATEMENT OF FINANCIAL POSITION
D ECEMBER 31, 2009 AND 2008
ASSETS 2009 2008
CURRENT ASSETS
Cash $ 453,728 $ 492, Investments 144,616 144, Accounts receivable 9,121 2, Grants receivable 41,759 54, Prepaid expenses 1,874 8, Total current assets 651,098 701, PROPERTY AND EQUIPMENT Equipment 33,794 38, Production sets, costumes 53,000 53, Leasehold improvements 15,082 15, Less: Accumulated depreciation (95,578) (100,120) Property and equipment (PE), net 6,298 6, OTHER ASSETS Security deposit 23,020 22, Total other assets 23,020 22, TOTAL ASSETS $ 680,416 $ 730, LIABILITIES AND NET ASSETS CURRENT LIABILITIES Accounts payable 662 5, Unearned revenue 5,222 31, Line of credit, payable 25,000 20, Total current liabilities 30,884 56, LONG-TERM LIABILITIES Total liabilities 30,884 56, NET ASSETS Unrestricted 548,667 491, Unrestricted, board designated 50,000 50, Temporarily restricted 50,865 132, Total net assets 649,532 673, TOTAL LIABILITIES $ 680,416 $ 730,519 NET ASSETS NET ASSETS BALANCE SHEET EXAMPLE 2
