Financial statements are an important tool for non-profit organizations to demonstrate accountability and transparency in resource management. This study aims to analyze the application of financial statements based on PSAK No. 45 at the Tridharma Nusantara Association. The method used is descriptive qualitative research with a case study approach, focusing on the 2024 financial statements. Data was collected through interviews, documentation and analysis of financial statements. The results showed that the financial statements of the Tridharma Nusantara Association only include a balance sheet and income statement, with a format that is too simple and only 25% meet the standards of PSAK No. 45, The application of PSAK No. 45 by the Tridharma Nusantara Association still has challenges in understanding and implementing provisions, such as revenue recognition and asset measurement therefore, further training is needed for administrators to ensure proper implementation and then there are significant differences between the current practice of preparing financial statements and PSAK No. 45 standards, especially in revenue recognition which is often done on a cash basis, while PSAK No. 45 requires the use of the accrual basis. These findings highlight the need for improved accounting practices and training for management to increase compliance and transparency.