This guide is intended to explain the concepts from “Generally Accepted Accounting Principles for Nonprofit Organizations” where they differ from a typical income statement. This guide assumes that you have a basic understanding of accounting. We will address the concepts in the order listed in the outline below.

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An activity report should, to the greatest extent possible, provide donors and external parties with useful information about the results of the activities carried out during the year. It should be easy to see how the funds were raised and how they were spent.

“Norwegian Accounting Standard for Generally Accepted Accounting Principles for Nonprofit Organizations” was developed by the Norwegian Accounting Foundation.

This document contains an outline for “Activities” in Chapter 4, Part 3.
Here it is:

FUNDING SOURCES
Membership revenue
Grants
– Government grants
– Other grants
Total grants
Funds raised, donations, etc.
Revenue generated from operational activities that fulfill the organization’s purpose
– that fulfill the organization’s purpose
– that generate revenue
Total revenue from operational activities
Total revenue from operating activities
Financial and investment income
Other revenue
Total revenue

FUNDS EXPENDED
Fundraising costs
– Fundraising expenses
– Other fundraising costs
Total costs associated with fundraising
Costs related to the organization’s mission
– Donations, grants, and funding to fulfill the mission
– Costs for activities that fulfill the mission
Total expenses for the organization’s purposes
Administrative expenses
Financial expenses
Total funds expended

Take me to “Member Income”

Allocation of Costs:
Costs that can be directly attributed to an activity are recorded in full under that activity. Overhead costs, such as salaries, IT, telephone, electricity, and rent, shall be allocated to the various activities to the extent that this is feasible based on a reasonable and realistic assessment.