Family-owned companies report to shareholders who are also relatives, employees and board members, so the annual review has to explain the year in plain terms and show how the family will decide the next one. This template sets a chair's letter beside a performance scorecard, the dividend record, the family council and the succession plan, and closes with an outlook. Each page has one headline that states its point, so a shareholder can follow the story in ten minutes.

Every figure in the sample belongs to Kingfisher Row Partners, a fictional company, and is set so the letter, the scorecard and the dividend page agree with each other. Gross margin falls in the letter as it does in the table, which is the discipline shareholders expect. Replace the figures with audited numbers, rewrite the letter in your own voice, and update the milestones so the outlook matches the board's own plan.