While NFPs don’t have profits (they have surpluses) or losses (they have deficits) that’s just superficial terminology. What’s underneath are Income Statements (Profit & Loss Accounts), Balance Sheets and Cash Flow Statements every bit as important as those in for-profit businesses. And many NFPs have for-profit businesses within them, contributing to the worthy cause.
NFPs must manage their costs, capital and cash flow; the financial fundamentals are the same as in for-profit businesses. Even if the end-goal isn’t to maximise financial returns as such, not managing the finances well impairs its achievement.
Reading, analysing and using your organisation’s Financial Statements as taught in these Finance Courses helps you to maximise the cash available for the worthy cause your organisation exists to benefit.