CURV 812 - Nonprofit Financial Statement Analysis
Course Description
Understanding a nonprofit’s financial statements is essential for evaluating organizational health, impact, and long-term sustainability. By analyzing key metrics such as liquidity, program efficiency, and year-over-year trends, you can confidently assess whether your organization’s resources are fueling its goals. With a solid grounding in nonprofit accounting standards and the skills to interpret complex data, you’ll be equipped to translate financial insights into strategic action—and identify the opportunities that move your mission forward.
In Nonprofit Financial Statement Analysis, you will be asked to demonstrate your ability to analyze a nonprofit organization’s financial statement to assess overall financial health and ensure alignment with organizational objectives. You will be presented with a realistic nonprofit scenario that includes supporting financial and strategic documents. You will be tasked with interpreting the organization’s financial condition, assessing major financial decisions, and responding to an ethical challenge concerning compliance or financial integrity.
What to Expect
This Curv microcredential demonstrates your proficiency in analyzing nonprofit organizations’ financial statements. When you sign up, we provide refresher resources and exercises you can do independently to practice your skills. Then, you will complete an assessment to demonstrate your competency. An expert will review your work, and you will receive your results with personalized feedback. If you meet our standard for expertise, you will receive a Toronto Metropolitan University Curv microcredential from the G. Raymond Chang School that proves you can:
- Analyze financial statements using key metrics (e.g., surplus/deficit, liquidity, program efficiency) to assess the organization's fiscal status
- Interpret financial trends in relation to strategic priorities and operational capacity
- Draw conclusions about financial sustainability and identify potential areas for improvement
Meet the Curv Creator
Meet Max! Max Zhu is a Chartered Professional Accountant (CPA, CA) with over a decade of experience in financial leadership and strategy. He currently works as a Director at a global real estate firm, where he combines deep technical expertise, operational insight, and a strong governance lens to guide complex financial decisions. Max began his career in public audit and has since built extensive experience in governance, serving on several large nonprofit boards and finance committees. He also teaches nonprofit finance at the Chang School of Continuing Education, where he helps emerging and experienced professionals strengthen their financial literacy and capacity.
Who Should Take This Program?
This program is designed for entry and mid-level nonprofit professionals in Ontario who are looking to showcase their financial and operational capabilities, with a focus on budgeting, financial reporting, and audit readiness. It is designed for individuals currently working in community nonprofits, charities, and grassroots organizations, as well as those seeking to transition into the nonprofit sector.
There is clear demand for this microcredential: in 2021, nonprofit organizations employed 2.5 million Canadians—representing 14.5% of the national workforce, with Ontario accounting for over 33% of those jobs. Skills analysis from the Nonprofit Leadership Alliance, Forbes, and LinkedIn consistently highlight the need for applied financial skills, strategic planning, and communication—areas directly addressed by the microcredential.
Frequently Asked Questions
What are the requirements for this microcredential?
You should have foundational knowledge and skills before enrolling. If you can answer ‘yes’ to all of the following statements, then you may be ready to enrol:
- Basic computer literacy (hardware, software, Internet, etc.)
- Familiarity with types and components of nonprofit financial statements
- Knowledge of financial health indicators specific to nonprofit organizations
- Understanding of relationship between financial statements and organizational goals
- Knowledge of Accounting Standards for Not-for-Profit Organizations (ASPNO)
- Ability to perform quantitative analysis and ratio interpretation, as well as data synthesis and trend recognition
- Strong sense of strategic financial thinking
What do I need to do for the assessment?
During the assessment, you will receive a randomly assigned scenario-based task based on a realistic nonprofit case. You will be required to analyze the organization’s financial health, evaluate key financial decisions, and respond to an embedded ethical or judgment-based dilemma related to compliance, transparency, or financial integrity.
You will be required to submit a written board memo, as well as a screen-recorded walkthrough explaining your analysis, decisions and recommendations.
What are the technological requirements for the assessment?
You will need a:
- Stable Internet connection (no minimum connection speed required)
- Computer with an Internet browser (e.g., Edge, Safari, Chrome, Firefox, etc.) Note: Chrome Internet browser is recommended for optimal experience
- Mobile phone* capable of receiving an SMS text message
*Why do I need a mobile phone? A mobile device is required for two-factor authentication to log in to the my.torontomu.ca portal and access the microcredential environment (D2L Brightspace).
How much time do I have to complete the assessment after enrolling?
Your microcredential will last two weeks. In the first week, you will have access to the microcredential environment (D2L Brightspace) to explore the supporting materials and practice activities that prepare you for the assessment. The supporting materials are self-paced and can take approximately two to eight hours to complete, depending on your prior knowledge and experience.
In the second week, you will gain access to the assessment. You will be able to open the assessment window at any time within that second week. Depending on the microcredential, the assessment window may be time limited (for example, three hours).
What are my support options?
Upon enrolling, you will have access to refresher resources and exercises. Your expert assessor will be available through the D2L Support Forum for any questions prior to the assessment. If you have any questions or experience any technical issues, you may contact Toronto Metropolitan University’s Computing and Communications Services (CCS) by email or phone.
What happens once I complete the assessment?
A week after you complete the assessment, you will receive your result from an expert assessor.
If you are able to meet the criteria and pass the assessment, you will receive a shareable Curv Microcredential digital credential from The Chang School at Toronto Metropolitan University. This credential can be shared on your LinkedIn profile, personal website, or anywhere you want to display your achievements.
If you are not able to meet the criteria and do not pass the assessment, you can re-enrol and try again when the next offering of this microcredential is available. Be sure to review your feedback and ensure that you have filled any gaps in knowledge or skill before registering for a future offering of this microcredential.