Statement of Financial Position
This statement is similar to the for-profit Balance Sheet. It lists cash, accounts receivable, payable, inventories and "net assets." Since a nonprofit doesn't really have owners, this statement doesn't show " Equity" or "Retained Earnings". Instead, net assets are presented, which accumulate financial changes over the years.
This report presents numbers reflecting what the nonprofit owns, owes and an overall view of resources to allow for growth. If you review this statement and see $100 in cash, no receivables and $10,000 in liabilities, you may become worried about the nonprofit's ability to survive and pay its bills.
The Statement of Financial Position follows the formula: Assets = Liabilities + Net Assets
Statement of Activities
The Statement of Activities is similar to the for-profit Income Statement. It presents revenues and expenses, which could be summarized by the areas of programs, administration and fundraising.
This statement often has multiple columns to present the numbers by the type of net asset, such as "Unrestricted," "Temporarily Restricted" and "Permanently Restricted." When a nonprofit receives $100 to be used for general operations, it will show up under the unrestricted column. On the other hand, if the $100 is given with restrictions as to its use, it will show up under the other columns.
The Statement of Activities follows the formula: Revenues - Expenses = Changes in Net Assets+ Beginning Balance Net Assets= Ending Net asset Balance.
Statement of Cash Flows
This statement is very similar to its counter-part in the for-profit world. The idea is to show summarized cash movements. Revenues that are temporarily restricted, like $10,000 to be used in a new program starting in the future, are classified as financing activities in this statement of a nonprofit.
The Statement of Cash Flows follows the formula: Cash flows from operating activities + Cash flows from investing activities + Cash flows from financing activities= Net increase in cash and cash equivalents. A reconciliation between cash balances and change in net assets is often shown as well.
Note that when a nonprofit is a voluntary health and welfare organization, it's required to issue a fourth, matrix-like report, " Statement of Functional Expenses" that shows individual expenses, such as rent or postage, classified by the three areas of programs, administration and fundraising. This statement is unique to non-profits with no real counter-part in the for-profit sector.
See more here -- Budgeting for Nonprofits
Check out 'Nonprofit Finance: A Practical Guide"