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Event Description

Navigating financial statements can spur confusion and overwhelm, but they don’t have to. This session will start at the very beginning by unpacking the principles, formulas, and definitions that are key to understanding how nonprofit financial statements are built and what information they contain. Using a straightforward set of audited financial statements from a real nonprofit organization, we will answer questions like:

  • What are assets, what are net assets, and why are they different?
  • What are accruals and deferrals? Why are they important?
  • What is the balance sheet, what is the income statement, and how are they interconnected?

This virtual session is designed for those with little to no experience with financial statements, or for those who have perhaps felt lost in other finance training and would like to strengthen their foundational skills. 
 

Facilitator

Black and white headshot of a middle aged woman with pale skin and dark hair in a pixie cut. She is smiling broadly looking straight at the camera, wearing a plain dark shirt.

Claire Knowlton SCG Member

Founder & Principal Consultant, Claire Knowlton Consulting LLC

Claire Knowlton is the founder and principal consultant at Claire Knowlton Consulting, LLC, where she provides financial consulting to nonprofits and foundations. Her work focuses on helping her clients align their financial strategy to their organizational values. She previously served as Director of Advisory Services for Nonprofit Finance Fund where she helped lead a national practice of 43 consultants and provided consulting services to hundreds of nonprofits and funders. While there, she designed and led a range of initiatives, including change capital projects for equity-centered arts organizations; long-term efforts to improve government contracting with nonprofits; and the Full Cost Project. She has worked in the nonprofit sector since 2005 in multiple roles, including as the Executive Director of a community-based art center, as an auditor and tax-preparer, and as co-founder and board chair for a nonprofit working to end extreme global poverty.

Presented by:

This series is made possible by the generous support of the Conrad N. Hilton Foundation in partnership with evolve, SCG's suite of programming championing transformational leadership.

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