August 21, 2003 | Read Time: 1 minute
Understanding Nonprofit Financial Statements, Second Edition, by Steven Berger, describes nonprofit financial statements and explains how board members can use the documents to fulfill their legal and fiduciary responsibilities. Mr. Berger, president of Healthcare Insights, a Libertyville, Ill., company that offers financial-management training and consulting services for health-care organizations, explains the components of balance sheets and cash-flow statements and provides equations for calculating such figures as cash on hand, return on net assets, and the average interest rate a group is paying on its long-term debt. The book discusses how board members can use the information to assess an organization’s efficiency and to set reasonable goals for improvement.
Publisher: BoardSource, 1828 L Street, N.W., Suite 900, Washington, D.C. 20036-5114; (202) 452-6262 or (800) 883-6262; fax (202) 452-6299; mail@boardsource.org; http://www.boardsource.org; 74 pages; $21 for members; $28 for nonmembers.
