The document discusses how non-profits can improve their annual reports by transitioning them into impact reports that tell their organization's story. It recommends focusing on donors by crediting them and including their stories, using compelling narratives and imagery while protecting privacy. An impact report should highlight the organization's mission and values through interactive elements, statistics, and photos that showcase the people and communities helped throughout the year. Benchmarking other effective reports can help with formatting and determining the right timing to provide shareholders and supporters with information on the organization's activities and financial performance for the preceding year.