{
  "version": "1.16.0",
  "releasedAt": "2026-09-07",
  "kpi": {
    "rogueId": "finance.np_program_expense_ratio",
    "slug": "np_program_expense_ratio",
    "domain": "finance",
    "defaultLabel": "Programme Expense Ratio",
    "description": "Programme services expense as a percentage of total functional expenses for the period — the share of everything spent that went to delivering the mission. The most widely read nonprofit efficiency measure, and the most widely gamed: it is only as honest as the cost-allocation method behind it.",
    "fieldType": "percentage",
    "unit": null,
    "maturity": "general",
    "suggestedForStages": [
      "preSeed",
      "seed",
      "seriesA",
      "seriesB",
      "seriesC",
      "public"
    ],
    "defaultOwningFunctions": [
      "Finance"
    ],
    "stageRelevance": {
      "preSeed": "core",
      "seed": "core",
      "seriesA": "core",
      "seriesB": "core",
      "seriesC": "core",
      "public": "core"
    },
    "definitionSource": {
      "tier": "published",
      "sourceName": "FASB ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities",
      "sourceUrl": "https://www.fasb.org/projects/completed-projects",
      "sectionRef": "ASC 958-720 (functional expense classification)",
      "publicationDate": "2016-08-01",
      "attributionNotice": null,
      "authorityLevel": "recognized-standard"
    },
    "formula": "program_expense_ratio = program_services_expense ÷ total_functional_expenses × 100.",
    "whyItMatters": "It is what funders, rating services and prospective donors look up, so a board should know its own figure before someone else quotes it.",
    "interpretationGuidance": "Charity watchdogs generally treat 65–75%+ as unremarkable, but the ratio rewards under-investment in administration and fundraising; read it alongside the allocation method and never as a quality score on its own.",
    "relatedKpiIds": [
      "finance.np_program_services_expense",
      "finance.np_total_functional_expenses"
    ],
    "metricBasis": {
      "timeBasis": "period_flow",
      "production": "computed"
    }
  }
}