I am seeking input for a presentation I am giving.
Next month I am giving a presentation to Leadership Lamoille on how to read financial statements of not-for-profit entities, for people who may be asked to serve on a nonprofit board. Leadership Lamoille is a leadership program sponsored by the Lamoille Region Chamber of Commerce.
The participants in the class primarily work in for-profit enterprises and should be familiar with the financial statements of for-profit enterprises. I also have experience reading financial statements of for-profit enterprises. In my 32 years at Yankee Farm Credit, I spent considerable time with both our own financial statements and the financial statements of many of our borrowers. For this presentation I need to discuss what is different and important to understand about the financial statements of a not-for-profit entity, especially if you are considering serving on its board.
What information should I present? What would you want to know if you were in a class like this?