We are pleased to be able to share the 2023 Audited Financial Statements. Haines Isenbarger & Skiba served as our external auditors again this year. They are always wonderful to work with and are a great resource for reviewing key accounting matters. We received an unmodified opinion, meaning the auditors concluded that the financial statements are presented fairly, in all material respects, in accordance with Generally Accepted Accounting Principles (GAAP). In essence, this means that the financial statements are a complete and accurate story of what actually happened during the year. We use a commonly accepted “language” (GAAP) to tell the financial story so that readers can easily compare our results with those of other organizations.
Why do nonprofit organizations have audits done anyway? Why does it matter? Our controller, Sarah Knoch shares, “I was taught to think of it in terms of the saying, “Trust, but verify.” It’s fine to believe people who say they’ve done what they’re responsible for. But it’s another thing to know it’s true because you have the evidence.” At the Community Foundation of Greater Fort Wayne, one of our core values is integrity. Our stakeholders trust us with their resources, in perpetuity. We seek to confirm that trust by honoring donor intent, acting with our community’s needs in mind, and managing those resources well. Having an annual audit is one way we can provide assurance that our financial records are accurate and that we are managing risks effectively.
Many thanks to our Audit Committee, chaired by Susan Wesner, for their thoughtful review of the audit. Also, thank you to our Finance team, Sarah Knoch, Lori Voght and Ashleigh Smothers, for their diligent work throughout the year.