Nonprofit Balance Sheet Template (Statement of Financial Position)

A nonprofit balance sheet, formally called the statement of financial position, shows what your organization owns (assets), what it owes (liabilities) and what is left over (net assets) on a single date. This free template follows the current FASB format, with net assets split between those with and without donor restrictions, and includes a blank tab and a filled-in example for Excel and Google Sheets.

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Download the free nonprofit balance sheet template

• Tabs: Instructions, Blank Template, Filled-in Example
• Works in: Microsoft Excel, Google Sheets, Apple Numbers and LibreOffice

Download for Excel (.xlsx, 10 KB)Make a copy in Google Sheets (opens in a new tab)

Nonprofit balance sheet example

Here is the template's example tab, filled in for Riverbend Community Food Pantry, a fictional small nonprofit, at the end of its fiscal year on June 30, 2026. Total assets of $359,200 equal total liabilities of $82,250 plus net assets of $276,950.

A few things to notice in the example:

• Current items come first. Current assets turn into cash within a year, and current liabilities are due within a year. Splitting them out is optional for nonprofits, but it makes the liquidity disclosure that current FASB rules require much easier to write, and it helps your board read the statement.
• Donated goods are assets. The $12,600 of donated food still on the shelves is inventory, just like purchased supplies.
• The endowment appears on both sides. The $40,000 endowment is part of investments on the asset side, and it is also net assets with donor restrictions that are perpetual in nature.
• The board reserve is unrestricted. The $25,000 board-designated reserve sits under net assets without donor restrictions, because the board can undo its own designation. Only a donor can create a donor restriction.

Net assets with and without donor restrictions

For-profit businesses report equity. Nonprofits report net assets, which is total assets minus total liabilities. Under FASB Accounting Standards Update 2016-14 (effective for fiscal years beginning after December 15, 2017), nonprofits that follow US GAAP report net assets in two classes instead of the old three (unrestricted, temporarily restricted and permanently restricted).

Net assets without donor restrictions

Resources the organization can use for any purpose that fits its mission. This includes amounts your board has set aside, such as an operating reserve or a building fund. Board designations can be shown separately, but they still belong in this class because the board can change its mind.

Net assets with donor restrictions

Gifts that a donor has limited in one of three ways: to a purpose ("for the after-school program"), to a time ("for next year", or a pledge paid over three years), or permanently (an endowment where only the earnings can be spent). When you meet the restriction, the amount is released and moves to net assets without donor restrictions. The release shows up on the statement of activities as "net assets released from restrictions."

Quick test: ask who set the limit. If a donor did, the money is with donor restrictions. If your board or staff did, it is without donor restrictions.

How to fill out the balance sheet template

1. Pick the date. Use the last day of your fiscal year, or of the month for an internal report. Every number on the statement must be as of that same date.
2. Pull your balances. Run a balance sheet or trial balance report from QuickBooks, Aplos, Xero or whatever system you use, as of that date. Reconcile your bank accounts first so cash is right.
3. Enter assets. Cash; receivables (money owed to you, including unconditional pledges and grants awarded but not yet paid); prepaid expenses such as insurance paid in advance; inventory; investments; and property and equipment net of accumulated depreciation.
4. Enter liabilities. Accounts payable (bills received but not paid), accrued payroll for days worked but not yet paid, refundable advances (grant money received before you have met the grant's conditions) and loans. Split each loan into the part due in the next 12 months and the rest.
5. Enter net assets. Split them between without and with donor restrictions. Restricted balances should match your records of each restricted gift, minus what you have already spent for that purpose.
6. Check that it balances. The green check row says OK when total assets equal total liabilities plus total net assets. If it does not, the difference is usually a missing account or a number entered in the wrong section.

Common mistakes

• Calling board-designated funds "restricted." Only donors create donor restrictions.
• Recording conditional grants as revenue too early. If a grant has a barrier you must overcome and a right of return, money received in advance is a refundable advance (a liability) until you meet the condition.
• Recording multi-year pledges as all current. Amounts due after 12 months are noncurrent and are generally recorded at their present value.
• Forgetting year-end accruals: unpaid bills, payroll earned but not yet paid, and vacation owed to staff.
• Using for-profit labels such as "owner's equity" or "retained earnings."
• Mixing dates, for example a bank balance from one day and a loan balance from another.

Frequently asked questions