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The following two financial statements—a statement of activities (profit and loss
summary) and a statement of financial position (balance sheet)—are for the Council
on Social Work Education for fiscal year 1998. (See Tables 5.3 and 5.4.) Review
these two financial statements and compute the following ratios: current ratio,
long-term solvency ratio, contribution ratio, programs/expense ratio, and revenue/
Comment on each of these ratios. Do the ratios appear high or low? Are the
ratios in keeping with the standards discussed in this chapter? Overall, how would
you describe the financial condition of the Council on Social Work Education? Why
can’t a management and general/expense ratio and fund-raising/expense ratio be
62 C H A P T E R 5
TABLE 5.2 Richmond, Virginia, Senior Center
Fiscal Years FY01, FY02, and FY03
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