Financial reporting is a key component of managing any foundation. CommunitySuite offers a variety of reporting tools to assist with monitoring financial activity.
Reports
Financial reports are listed on the Financials page in the left-side menu.
Balance Sheet
The Balance Sheet or Statement of Financial Position shows assets, liabilities, and net assets (known as equity in the for-profit world). It shows a "snapshot" of an organization's financial position at a certain point in time. By default, it will show the consolidated numbers of all funds in the organization, but there are several filters available to further refine the results. The basic accounting equation that shows on the balance sheet is assets (what the foundation has or is owed) minus liabilities (what it needs to pay), which equals the foundation's net assets.
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Income Statement
The Income Statement Report, also known as the Statement of Activities, shows revenue and expense accounts for a time period for the foundation as a whole by default. This report also allows for configurations to specific funds and fund groups.
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Balance Change
The Balance Change Report shows a net change in the balance for assets, liabilities, and net assets for a specific date range.
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Balance Trend
The Balance Trend Report lists the assets the organization has for that particular period of time. Run a balance trend report to see foundation assets, liabilities, and net assets for a date or a date range. This report includes daily, monthly, quarterly, and yearly reporting. It is similar to running a balance report for each month to see ending balances.
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Audit Report
The Audit Report shows the fund balance change with the beginning investment income total, support(R), expense(E), program(E), other expense(E), payroll expense(E), net assets(OE), and the ending balance for each fund. This report is the same as a columnar report. It includes totals for all income and expenses. The change in fund balance from one date’s beginning balance to the ending balance and the total amounts that make up the change are available.
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Fund Balance
The Fund Balance Report shows the fund balance, principal, spendable, and default balances for specified funds. If the restrictions (PR [permanently restricted], TR [temporarily restricted], U [unrestricted]) are set on funds, it will also list amounts broken into each balance. This report also allows for configurations to fund group and subgroup.
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Audit Balances
The Audit Balances Report shows quarter ending balances based on bank and investment accounts for a specified time period. This report has options for fund balances on total fund balances, principal, and spendable balances displayed by month, quarter, or year and can use fund filters.
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Trial Balance
The Trial Balance Report shows the total debit and credit balances for each account on a given day.
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Detail Trial
The Detail Trial Balance Report shows the beginning balance, total debits, total credits, and ending balance of each account over a date range.
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Under Water
The Underwater Report, also known as the Fund Underwater Report, subtracts the principal balance of a fund from the total balance of a fund to calculate the underwater amount. Funds are only listed in this report if their underwater amount is negative.
Func Expense
The Func Expense Report, also known as Statement of Functional Expenses, shows the amounts of expenses by both their natural classification and their functional classification.
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Investment Report
This report displays data account by account based on the investment level. The report lists beginning and ending investment balance, all revenue share activity, deposits, and withdrawals. The Investment Report can be filtered using a variety of filters that includes the account advisor.
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Account Balance
The Account Balance Report displays a subset of balance sheet accounts for a specified date range. This may be useful for creating reports using a select group of balance sheet accounts. The Account Balance Report can be filtered using a variety of filters that includes the account advisor.
Account Activity
The Account Activity Report displays any selected accounts from the chart of accounts in a report that has the same column options as the Income Statement Report. This may be useful for tracking departmental expenses.
Inception Report
The Inception Report is a fund report that will calculate from the first general ledger transaction to a selected end date. There will not be a beginning balance column since all funds start with a zero dollar balance at inception. The Inception Report will display closed funds and will be allowed for closed periods only.
Additional Reports
990 Report
Form 990 is required by law from tax-exempt organizations and nonexempt charitable trusts. It provides the IRS with information on the organization's mission, programs, and finances.
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1099 Report
The 1099 Report can be generated after expense accounts and vendors are designated as needing 1099. MISC and NEC groups are available on the report. If appropriate, students can be included.
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Accounts Payable Reports
The Accounts Payable Historical AP Report will display accounts payable balances, grants payable balances, and scholarships payable balances which will tie back to the balances on the balance sheet. Items that may require attention are listed in red.
Accounts Receivable Reports
The Accounts Receivable Historical AR Report will display accounts receivable balances and pledge receivable balances. Pledges from a previous year that have not been received will be reflected in the current year's balance. Pledge dates are included.
Budget Report
The Budget Report shows a comparison of budget versus actual on a Statement of Activities. There are different options to report on budget such as consolidated view, by fund, year to date, or projected.
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Donations Exceeding Report
The Donations Exceeding Report provides helpful information when completing the 990 report. Generate the report for a list of individual or organization donors who gave more than a specified amount.
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Grantees Exceeding Report
The Grantees Exceeding Report provides helpful information when completing your 990 report. Generate the report for a list of individual or organization grantees who received more than a specified amount.
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Public Support Report
A Public Support Report provides helpful information when completing your 990 report. This report is generally used by auditors.
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T3010 Report
The T3010 (Grantees) Report is intended for use in Canadian sites and replaces the 990 and 1099 reports. Canada must be the selected country in System Data in order for CRA Reporting to be displayed on the Home page. The report is based on the calendar year and will provide grantee name and ID, address information, BN Registration number, and total amount granted for the calendar year. The BN Registration number will be populated from the FEIN field on a profile. Schools and universities designated as grantees will be included in the report.
T4A Reports
The T4A (Students) Report is intended for use in Canadian sites. Canada must be the selected country in system data in order for the CRA Reporting page to be displayed on the Home page. The report is based on the calendar year and will provide student name and ID, address information, SSN, and the total amount paid in scholarships.
The T4A (Vendors) Report is intended for use in Canadian sites. Canada must be the selected country in system data in order for CRA Reporting page to be displayed on the Home page. The report is based on the calendar year and will provide vendor name and ID, individual yes/no, address information, SSN, BN Registration number, and total amount paid for the year.