Statement of Financial Position
Amounts owed to Dog Tag by our customers are accumulated here.
What is accounts receivable?
Selling a muffin in the cafe generates this kind of revenue.
What are bakery retail sales?
This financial statement reports expense details for each class.
What is the statement of functional expense?
This person gathers all financial information each month and submits to our accounting firm for financial statement preparation
Who is Marybeth // Who is the Accounting Coordinator?
July 1 - June 30
What is Dog Tag's fiscal year?
Amounts Dog Tag owes to our vendors are accumulated here.
What is accounts payable?
The Washington National's are a new customer this year, leading to a spike in this revenue line.
What is wholesale revenue?
Direct expenses incurred to produce bakery products
What is Cost of Goods Sold?
This person ensures the organization's budget aligns with the strategic vision
Who is Jaime // Who is the Director of Finance?
Expenses that are not directly attributed to our fellowship program or bakery
What are support expenses?
Resources available to the organization, including cash, vehicles, and bakery equipment.
What is an asset?
Our fundraising team manages this category of revenue.
What are contributions?
A non-cash expense that is covered by a non-cash contribution; Dog Tag's rent, for example.
What is "in-kind"?
This founder's original vision for Dog Tag included a plan to produce dog biscuits
Who is Fr. Curry?
The name of the Income Statement for a nonprofit
What is the Statement of Activities?
Obligations of the organization; future sacrifices
What is a liability?
Revenue fluctuates throughout the year due to customer trends and holidays.
What is seasonality?
A plan that management establishes to manage spending
What is a budget?
Dog Tag's accounting firm
Who is Marcum?
Dog Tag's organizational structure / IRS status
What is a 501(c)3 nonprofit?
The Statement of Financial Position, for a for-profit entity.
What is a balance sheet?
Donations received that are not paid in cash.
What is an in-kind donation?
Bakery Program, Veteran Education Program, G&A, and Fundraising
What are the four "classes"?
This financial statement user group oversees the organization's activities, and reviews financial statements each quarter.
What is the Board of Directors?
This is the most liquid asset.
What is cash?