Corporations have specific requirements from the Securities & Exchange Commission to include in their reports. Non-profits have much more leeway, but they still have to satisfy their auditors. While financial data may be useful in terms of providing accountability to members, the content of the "story" is even more important. A perfunctory "message" from the director (that you wrote) isn't adequate.
You
really need to give a review of where the organization has been and where it's
going. What are the issues
you're dealing with, and what are your priorities? If you can't explain that in a dozen (or two) pages, then
you don't know how to communicate with your audience