What are the differences between a statement of activities and a for-profit income statement?

A statement of activities, used by non-profit organizations, outlines revenue, expenses, and changes in net assets, focusing on the organization's mission rather than profit generation. In contrast, a for-profit income statement details revenues, costs, and profits, emphasizing financial performance and shareholder value. While both documents track financial performance, the statement of activities categorizes revenues by restrictions, reflecting donor intent, whereas the income statement does not. Additionally, the terminology and format differ, with non-profits highlighting contributions and grants, while for-profits focus on sales and operational income.