Financial Statement Format
Board members and managers need to clearly understand their organization's true financial position. During the planning of a major project, this information is critical to its success. Rasmuson Foundation has worked closely with accountants, auditors and other grantmakers to develop a format for the presentation of nonprofit financial statements that provides the critical information that decision makers need.
Applicants to Rasmuson Foundation will be required to present their financial statements in this format when:
1. The applicant organization's annual operating budget is $500,000 or greater;
2. The applicant organization is requesting a grant greater than $25,000.
To learn more about the specific format changes to the balance sheet, the statement of activities and the statement of functional expenses, and what the Foundation requires from applicants, please see the Financial Statement Requirements.