What it is
Not-for-profit statements have two net asset classes, without donor restrictions and with donor restrictions, a statement of functional expenses that shows natural and functional classifications, and a liquidity and availability disclosure. This workbook builds each, with formulas that tie them to each other.
Enter the statements of financial position, functional expenses by natural class and function, and the activities by net asset class. Net assets released from restrictions are entered once and reversed in the restricted column by formula. Ending net assets must agree to the statement of financial position, and the liquidity tab computes financial assets available within one year and months of operating expenses covered.
When to use it
- Preparing statements for a charity, church, association or foundation.
- Checking that net assets by class agree between the activities statement and the balance sheet.
- Preparing the liquidity disclosure for the notes.
What’s inside
- Statement of financial position with the two net asset classes and board designations
- Statement of activities with net assets released from restrictions and a prior-year total
- Statement of functional expenses by natural class and function, with percentages and a trial balance check
- Indirect cash flow statement with a tie to cash
- Liquidity and availability schedule and a Checks tab
Standard cited
This template follows ASC 958. It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use.
Questions
Where do board-designated funds go?
In net assets without donor restrictions. Show them separately as designated and disclose them. They are not donor restrictions.
How are shared costs allocated?
Allocate on a reasonable and consistent basis, such as square footage for occupancy or time records for salaries, and disclose the method in the notes. The workbook takes the allocated amounts you enter.
Does it cover endowment disclosures?
It carries endowment assets and perpetual restrictions on the statements. The endowment note, with its rollforward and spending policy, is a note item. See the notes template for the outline.
What does the liquidity schedule exclude?
Amounts the organization cannot use for general expenditure within a year because of donor restrictions, board designations that it treats as unavailable, or timing. You enter those amounts and disclose how you decided.
Related templates
- GAAP Disclosure Checklist (Private Company, Short Form)
- Cash Flow Statement Template, Indirect Method (ASC 230)
- Trial Balance Template with Mapping (Excel)
Last updated 11/05/2026. All free templates.