Most recent 12-month audited financial statement with accompanying notes, including a Statement of Financial Position (*assets/liabilities) and a Statement of Activities (*income/ expenses), or most recently filed Form 990. (Preferred)
If you do not have an audit or file Form 990, or if dated more than 12 months prior to your online submission, submit current unaudited, in house statements.
- Assets - Listing or value of current monetary assets (cash-checking/savings, accounts receivable, investment portfolios, scholarship funds, endowment funds, etc.) and fixed assets (buildings, land, furnishings, equipment, vehicles and the like).
- Liabilities - Monies currently owed or future commitments (accounts payable, mortgages, loans, credit cards, outstanding payroll/benefits, etc.).
- Income and the sources of income (tuition, fees, collections, grants, donations, government programs, rentals, dividends, etc.)
- Expenses - Salaries, transportation, utilities, maintenance/ rent, office supplies, program costs, etc.
Fixed assets are frequently omitted. This is required, even if the fixed assets are owned by a parent corporation (e.g. parish, diocese, bishop sole, religious order, consolidated health system, etc.). If you don't have this information on hand or are having difficulty acquiring it, the insurance value of such fixed assets will satisfy the requirement.
If you are a fund-raising entity, making application for a parent organization, the financial statements of both organizations are required.