Nonprofit Statement of Functional Expenses Allocation Methods, by Sherri Rose, Nonprofit Auditor

If you are a nonprofit organization in North Carolina you may be required to prepare a statement of functional expenses. The statement of functional expenses is not required for every non-profit organization; however, it is commonly included in the financial statements. Only voluntary health and welfare organizations are required to include a statement of functional expenses. Certain Grants may include language requiring expenses to be reported by functional classification. As a nonprofit auditor, I have seen several North Carolina nonprofits require this when they distribute pass-through funds or issue funds to a subrecipient. Generally, management of the nonprofit is concerned with th

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