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Does your non-profit know its fiscal year?

What is a fiscal year?

A fiscal year is a one-year period of time that a non-profit uses for accounting purposes and preparation of its financial statements.

For example, non-profits have their fiscal year aligned with the calendar year (January 1 to December 31) or government year end (March 31).

Other non-profits set their fiscal period to align with a natural break in their operations, such as a summer camp with a fiscal year of September 1 to August 31.