The Virgin is seated on a throne, with Saint Francis (identified by his stigmata) presenting a lay donor, and Saint Bernardino (whose facial type was standardised in painting of the period), on either side. Behind the Virgin's throne are four angels. Saint Bartholomew is shown in the right panel with his attribute of a flaying knife, by which he was martyred. Saint John the Baptist on the left holds a glass staff with a cross. His scroll is inscribed with a quotation from the Gospel of Saint John (1: 29, 36): 'Behold the Lamb of God' in abbreviated Latin. This text appears frequently in paintings of the Baptist and alludes to his biblical role as the 'forerunner of Christ'.
The painting was previously attributed to Fiorenzo di Lorenzo. It is now attributed to Caporali on account of its closeness in style to a triptych in Perugia, documented as Caporali's work and dated 1475. The central panel is a reworking of a picture by Niccolò di Liberatore dated 1457 (Deruta, Pinacoteca).