nonprofit accounting lj

Nonprofit Accounting

LJ


1

NONPROFIT ORGANIZATIONS

A. Nonprofit Organizations:

1. Private Not-for-Profit Colleges/Universities

2. Private Not-for-Profit Hospitals/Healthcare Entities

3. Voluntary Health & Welfare Organizations

4. Any Other Nonprofit Organization (labor union, research foundation, church, etc.)

B. Instead of GASB standards, all these nonprofits:

1. Follow FASB nonprofit model.

2. Carry and depreciate their own .

3. Carry and service their own long term debt, such as bonds payable

4. Use normal accrual accounting (not modify accrual).

5. Measurement focus: provide information for the entity as a whole.

6. Deal with (must be restricted by an party).

7. Deal with gifts, bequests, donations, grants, etc.

Notes:

xed assets

restricted money outside


2

DONATED MONEY

Nonprofits use normal accrual accounting, so restricted money is recorded as revenue immediately when either:

A. Collected or

B. Pledged (promised)

Example: $100,000 Gift restricted to purchase equipment

Cash 100,000 100,000

To record receipt of donation restricted to purchase equipment.

Year-end: Equipment still not purchased

100,000

100,000 To set up Net Asset account on B/S

Next Year: Funds spent; equipment purchased

Equipment 100,000 Cash 100,000

To record purchase of equipment

100,000

100,000 To record donation used for intended purpose

account. Net Assets Temporarily Restricted is a(n)

Net Assets Released from Restriction is

a(n)

account.

Temporarily restricted revenue


Net assets temporarily restricted

Net assets temporarily restricted

Net assets released from restriction

B/SI/S

B/S=Balance SheetI/S=Income Statement


3

PLEDGES & DONATED SERVICES

A. Pledges --- Record as revenue at fair market value, net of uncollectibility, in the year the pledge is made.

Example: Nonprofit Hospital has a pledge drive. $200,000 in pledges have some kind of restriction. Based on past experience, they expect to collect 100% of the restricted pledges but $50,000 on the unrestricted pledges will not be collected.

650,000

50,000

400,000

200,000 To record pledges at FV in the year the pledges are made.

B. Donated Services --- Record as both an expense and a revenue if the following criteria are met:

1. Fair value of the service is determinable, and either

2. Services donated would have been paid for otherwise by the nonprofit, or

3. Nonfinancial assets are created or enhanced.

Example: Nuts donate nursing services to a private, not-for-profit hospital

xxx expense 50,000

50,000

(Notice: both a and an are recorded,

so it washes out. Its all about ).

Pledges receivable

Allowance for uncolletible

Unrestricted revenue


xxx revenue

revenue expense

full disclosure


4

STATEMENTS OF FINANCIAL POSITION & ACTIVITIES

A. Statement of Financial Position (i.e., a balance sheet)

Assets XXXX Liabilities XXX Net Assets: Unrestricted XXX Temporarily Restricted XXX Permanently Restricted XXX Total Liabilities and Net Assets XXXX

B. Statement of Activities Revenues (restricted and unrestricted) XXXXPlus Net Assets Released From Restrictions XX XXXX Less Expenses (XXX) Net Change: Net Assets: Unrestricted XXX Net Assets: Temporarily Restricted XXX Net Assets: Permanently Restricted XXX

Notes:


5

STATEMENT OF CASH FLOWS

Statement of Cash Flows --- FASB Format (must be the Direct Method)

1. Cash Flow From Operating Activities (includes unrestricted items)

2. Cash Flow From Investing Activities (including works of art)

3. Cash Flow From Financing Activities (includes interest or dividend income restricted forlong-term purposes and contributions restricted for long-term purposes)

Cash Flows From Operating Activities Cash received from customers XXXX Cash paid to suppliers, employees, taxes (XXX) Cash paid for interest (XXX) Cash received for interest and dividends XX

Net cash provided (used) by Operating Activity XXXX

Cash Flow From Investing Activities Buy or Sell Property, Plant or Equipment XXXX Buy or Sell Investments XX

Net cash provided (used) by Investing Activity XXXX

Cash Flow From Financing Activities Borrow or repay debt principal XXXX Dividend paid (XXX) Issue stock XXX Buy or sell Treasury Stock XX

Net cash provided (used) by Financing Activity XXXX

Net increase/decrease in cash and cash equivalents XXXX

Cash and cash equivalents at the beginning of period XXXX

Cash and cash equivalents at the end of the period XXXX

Independently answer multiple-choice questions 1 15.


6

MULTIPLE-CHOICE QUESTIONS 1 - 15

1. In the preparation of the statement of activities for a nongovernmental not-for-profitorganization, all expenses are reported as decreases in which of the following net assetsclasses?

a. Total net assetsb. Unrestricted net assetsc. Temporarily restricted net assetsd. Permanently restricted net assets

(8327)

2. How should a nongovernmental not-for-profit organization report depreciation expense in itsstatement of activities?

a. It should not be included.b. It should be included as a decrease in unrestricted net assets.c. It should be included as an increase in temporarily restricted net assets.d. It should be reclassified from unrestricted net assets to temporarily restricted net assets,

depending on donor-imposed restrictions on the assets.(8773)

3. Famous, a nongovernmental not-for-profit art museum, has elected not to capitalize itspermanent collections. In the previous year, a bronze statue was stolen. The statue was notrecovered and insurance proceeds of $35,000 ware paid to Famous in the current year. Thistransaction would be reported in

I. The statement of activities as permanently restricted revenues. II. The statement of cash flows as cash flows from investing activities.

a. I onlyb. II onlyc. Both I and IId. Neither I nor II

(6812)

4. How should a nongovernmental, not-for-profit organization report donor-restricted cashcontributions for long-term purposes in its statement of cash flows?

a. Operating activity inflowb. Investing activity inflowc. Financing activity inflowd. As a noncash transaction

(8605)


7

5. A nongovernmental not-for-profit organization borrowed $5,000, which it used to purchase atruck. In which section of the organizations statement of cash flows should the transactionbe reported?

a. In cash inflow and cash outflow from investing activitiesb. In cash inflow and cash outflow from financing activitiesc. In cash inflow from financing activities and cash outflow from investing activitiesd. In cash inflow from operating activities and cash outflow from investing activities

(8112)

6. An unrestricted cash contribution should be reported in a nongovernmental not-for-profitorganizations statement of cash flows as an inflow from

a. Operating activitiesb. Investing activitiesc. Financial activitiesd. Capital and related financing activities

(7746)

7. On December 30, Leigh Museum, a not-for-profit organization, received a $7,000,000donation of Day Co., shares with donor stipulated requirements as follows:

Shares valued at $5,000,000 are to be sold with the proceeds used to erect a public viewing building.

Shares valued at $2,000,000 are to be retained with the dividends used to support current operations.

As a consequence of the receipt of the Day shares, how much should Leigh report as temporarily restricted net assets on its statement of financial position?

a. $0b. $2,000,000c. $5,000,000d. $7,000,000

(5475)

8. On January 2, the Baker Fund, a nongovernmental not-for-profit corporation, received a$125,000 contribution restricted to youth activity programs. During the year, youth activitiesgenerated revenues of $89,000 and had program expenses of $95,000. What amount shouldBaker report as net assets released from restrictions for the year?

a. $0b. $6,000c. $95,000d. $125,000


8

9. The Turtle Society, a nongovernmental not-for-profit organization, receives numerouscontributed hours from volunteers during its busy season. Chris, a clerk at the local taxcollectors office, volunteered ten hours per week for 24 weeks transferring turtle food fromthe port to the turtle shelter. His rate of pay at the tax office is $10 per hour, and the prevailingwage rate for laborers is $6.50 per hour. What amount of contribution revenue should TurtleSociety record for this service?

a. $0b. $840c. $1,560d. $2,400

(8352)

10. Oz, a nongovernmental not-for-profit organization, received $50,000 from Ame Company tosponsor a play given by Oz at the local theater. Oz gave Ame 25 tickets, which generally cost$100 each. Ame received no other benefits. What amount of ticket sales revenue should Ozrecord?

a. $0b. $2,500c. $47,500d. $50,000

(7066)

11. Community Enhancers, a nongovernmental not-for-profit organization, received the followingpledges:

000,004$ detcirtsernU 000,003 snoitidda latipac rof detcirtseR

All pledges are legally enforceable. However, Communitys experience indicates that 5% of all pledges prove to be uncollectible. What amount should Community report as pledges receivable, net of any required allowance account?

a. $700,000b. $665,000c. $380,000d. $285,000

(7747)

Cash 50,000 Ticket Rev 2,500

Contribution Rev 47,500

Pledges Receivable 700,000 Allowance 35,000

Unrestricted Rev 380,000

Temp Rest Rev 285,000


9

12. Which of the following assets of a nongovernmental not-for-profit charitable organizationmust be depreciated?

a. A freezer costing $150,000 for storing food for the soup kitchenb. Building costs of $500,000 for construction in progress for senior citizen housingc. Land valued at $1 million being used as the site of the new senior citizen homed. A bulk purchase of $20,000 of linens for its nursing home

(8110)

13. Settam, a nongovernmental not-for-profit organization, received a donation of stock withdonor-stipulated requirements as follows:

Shares valued at $8,000,000 are to be sold with the proceeds used for renovation. Shares valued at $2,000,000 are to be retained with the dividends used to support

current operations.

What amount should Settam include as unrestricted net assets as a result of this donation?

a. $0b. $ 2,000,000c. $ 8,000,000d. $10,000,000

(8580)

14. Janna Association, a nongovernmental not-for-profit organization, received a cash gift withthe stipulation that the principal be held for at least 20 years. How should the cash gift berecorded?

a. A temporarily restricted assetb. A permanently restricted assetc. An unrestricted assetd. A temporary liability

(8113)

15. Hann School, a nongovernmental not-for-profit organization, spent $1 million of temporarilyrestricted cash to acquire land and building. How should this be reported in the statement ofactivities?

a. Increase in unrestricted net assetsb. Increase in temporarily restricted net assetsc. Increase in permanently restricted net assetsd. Decrease in permanently restricted net assets

(8578)


10

HOSPITALS

A. Required: FASB nonprofit model used for external reporting

B. Optional: Funds used for internal reporting

All these funds are organized around one principle: is the money

or is it . If it is , is it a

restriction or is it a restriction?

1. Unrestricted Fund: General Fund (day-to-day operations)

a. Fixed assets and accumulated depreciation

b. Long-term debt

c. Board-designated assets (internally restricted money is technically unrestricted,because the board can change their mind)

d. Agency activity (hospital acts as an agent)

e. 3 Net Assets Positions: , temporarily restricted, and

2. Donor-Restricted Funds:

a. Specific Purpose Fund

(1) Gifts / bequests / grants / donations temporarily restricted for operationalpurposes

(2) Net Asset Position:

b. Plant Replacement & Expansion Fund

(1) Gifts / bequests / grants / donations temporarily restricted for capitaladditions

(2) Net Asset Position:

c. Endowment Funds

(1) Pure or Permanent Endowment Funds

(2) Term Endowment Funds

(3) Net Asset Positions: &

restrictedrestrictedunrestricted temporarily

permanent

unrestrictedpermanent restricted

temporary

temporarily permanently

temporary


11

3. Required Statements for External Reporting

a. Statement of Financial Position

b. Statement of Cash Flows (FASB format --- see page 5. A city hospital wouldfollow the GASB format.)

C. Statement of Activities --- three revenue categories:

1. Patient service revenue (Gross Patient Service Revenue less Charity Care equalsPatient Service Revenue less 3rd Party Contractual Adjustments equals Net PatientService Revenue)

2. Other operating revenue

Educational programs Cafeteria Vending machines Pay parking lot Gift shop Specific purpose grants FMV of donated services FMV of donated supplies (medicine, linens) Gifts for charity care

3. Nonoperating gains/losses

Unrestricted gifts, bequests Gains/losses on sales of assets Unrestricted endowment income Unrestricted interest/dividend income



12


16. Under Abbey Hospitals established rate structure, the hospital would have earned patient service revenue of $6,000,000 for the year. However, Abbey did not expect to collect this amount because of charity care of $1,000,000 and discounts of $500,000 to third-party payors. How much should Abbey record as patient service revenue for the year?

a. $6,000,000 b. $5,500,000 c. $5,000,000 d. $4,500,000

(1422)

17. Hospital, Inc., a not-for-profit organization with no governmental affiliation, reported the following in its accounts for the current year ended December 31:

Gross patient services revenue from all services provided at the established billing rates of the hospital (note that this figure includes charity 000,577$ )000,52$ fo erac

000,51 stbed dab rof snoisivorP

Difference between established billing rates and fees negotiated with third-party payors (contractual adjustments) 70,000

What amount would the hospital report as net patient service revenue in its statement of operations for the current year ended December 31?

a. $680,000 b. $690,000 c. $705,000 d. $735,000

(7790)

18. A not-for-profit hospital issued long-term tax exempt bonds for the hospitals benefit. The hospital is responsible for the liability. Which fund may the hospital use to account for this liability?

a. Enterprise b. Specific purpose c. General d. General long-term debt account group

(4663)

6,000,000-1,000,000=5,000,000


13

COLLEGES

A. Required: FASB model used for external reporting


1. Unrestricted Current Fund (current operations)

2. Restricted Current Fund

3. Agency Fund

4. Loan Fund

5. Annuity Income and/or Life Income Funds

6. Endowment Funds

a. Pure (net assets permanently restricted)

b. Term (net assets temporarily restricted)

c. Quasi (board-designated assets; net assets unrestricted)

7. Plant Funds:

a. Unexpended Plant (net assets temporarily restricted to capital additions)

b. Investment in Plant (net assets unrestricted)

c. Retirement of Indebtedness (net assets temporarily restricted to service debt)

d. Renewal & Replacement (net assets temporarily restricted for major repairs)

C. Required Statements for External Reporting

1. Statement of Financial Position

2. Statement of Cash Flows (FASB format --- see page 5. State or city college wouldfollow GASB format.)


14

3. Statement of Activities

a. Tuition Waivers --- Expenditures, not revenue reductions:

(1) Scholarships

(2) Fellowships

(3) Tuition Remissions (facultys children attend free)

b. Refunds --- Revenue reduction

c. Types of Expenses: 3 categories

(1) Education & General (Faculty salaries, Research, Student Services,Financial Aid)

(2) Auxiliary Enterprise (Cafeteria, Bookstores, Athletic Programs)

(3) Support: Management, General & Administrative, Fund Raising)



15


19. During the year, Public College received the following:

An unrestricted $50,000 pledge to be paid the following year A $25,000 cash gift restricted for scholarships A notice that the college is named as a beneficiary of $10,000 in a recent graduates will

What amount of contribution revenue should Public College report in its statement of activities?

a. $25,000 b. $35,000 c. $75,000 d. $85,000

(8077)

20. For the summer session, Unity University assessed its students $3,000,000 for tuition and fees. However, the net amount realized was only $2,900,000 because of the following reductions:

Tuition remissions granted to faculty members families $30,000 000,07 sdnufer noitallecnac ssalC

How much unrestricted current funds revenues from tuition and fees should Unity report for the period?

a. $2,900,000 b. $2,930,000 c. $2,970,000 d. $3,000,000

(1406)

21. For the fall semester, Ames University assessed its students $3,000,000 for tuition and fees. The net amount realized was only $2,500,000 because scholar-ships of $400,000 were granted to students, and tuition remissions of $100,000 were allowed to faculty members children attending Ames. What amount should Ames report for the period as unrestricted current fund gross revenues from tuition and fees?

a. $2,500,000 b. $2,600,000 c. $2,900,000 d. $3,000,000

(4140)

2,9000,000+30,000=2,930,000


16

22. What describes a private nonprofit universitys internally designated asset , the income fromwhich will be used for a specified purpose?

a. Endowmentb. Term endowmentc. Quasi-endowmentd. Restricted

(9096)

23. A colleges plant funds group includes which of the following subgroups?

I. Renewals and replacement funds II. Retirement of indebtedness fundsIII. Restricted current funds

a. I and IIb. I and IIIc. II and IIId. I only

(2102)

Notes:


17

VOLUNTARY HEALTH & WELFARE ORGANIZATIONS

A. Required FASB model used for external reporting


1. Unrestricted Current Fund

2. Restricted Current Fund

3. Plant or Land, Building & Fixed Asset Fund

4. Custodian Fund (identical to an Agency Fund)

5. Loan Fund

6. Annuity Income and/or Life Income Funds

7. Endowment Funds:

a. Pure (net assets permanently restricted)

b. Term (net assets temporarily restricted)

c. Quasi (board-designated assets; net assets unrestricted)

C. Required Statement for External Reporting

1. Statement of Financial Position

2. Statement of Cash Flows (FASB format --- see page 5)

3. Statement of Activities

a. Revenue

(1) Program Revenue

(2) Membership Dues

(3) Fees for Services

(4) Interest and Dividend Income

b. Support (Public): contributions, gifts, pledges, bequests, and special events


18

4. Statement of Functional Expenses

a. Program Expenses (to meet your mission)

(1) Research

(2) Education

(3) Health

b. Support Expenses

(1) Fund Raising

(2) Management

(3) General & Administrative

Notes:



19


24. A non-for-profit voluntary health and welfare organization should report a contribution for theconstruction of a new building as cash flows from which of the following in the statement ofcash flows?

a. Operating activitiesb. Financing activitiesc. Capital financing activitiesd. Investing activities

(7767)

25. A voluntary health and welfare organization received a cash donation in 2001 from a donorspecifying that the amount donated be used in 2003. The cash donation should beaccounted for as

a. Revenue in 2001b. Revenue in 2001, and 2002,and 2003, and as a deferred credit in the balance sheet at

the end of 2001 and 2002c. Revenue in 2003, and no deferred credit in the balance sheet at the end of 2001 and

2002d. Revenue in 2003, and as a deferred credit in the balance sheet at the end of 2001 and

2002(4602)

26. A labor union had the following expenses:

000,005$ snoitaitogen robaL000,001 gnisiar-dnuF

Membership development 50,000Administrative and general 200,000

In the statement of activity, what amount should be reported under the classification of program services?

a. $850,000b. $600,000c. $550,000d. $500,000

(1362)


20

27. During the current year, a voluntary health and welfare organization receives $300,000 inunrestricted pledges. Of this amount, $100,000 has been designated by donors for use nextyear to support operations. If 15% of the unrestricted pledges are expected to beuncollectible, what amount of unrestricted support should the organization recognize in itscurrent-year financial statement?

a. $300,000b. $270,000c. $200,000d. $170,000

Notes:


21

NONPROFIT AS TRUSTEE

A. Application

Donor transfers assets to nonprofit organization as trustee for beneficiary; nonprofit is middleman holding the money temporarily until it goes to the beneficiary.

B. Treatment

Nonprofit organization treats such assets as:

1. Refundable advance --- if ANY of the four following conditions are met:

a. Donor retains right to direct the assets

b. Donor controls the nonprofit / recipient

c. Donor may revoke donation / gift

d. Donor specifies itself or affiliate as beneficiary, and it is not an equity transaction

Cash 3,000

3,000 To record donated assets and related liability.

2. Contribution / Support / Revenue --- it is NOT refundable, and EITHER:

a. Nonprofit has variance power (right to redirect assets to another beneficiary) OR

b. Nonprofit & beneficiary are financially interrelated

Cash 3,000

3,000 To record assets donated as contributions / support.

Liability

Revenue


22

3. Equity transaction --- ALL of the following three conditions are met:

a. Donor specifies itself or affiliate as beneficiary; AND

b. Donor & nonprofit are financially interrelated; AND

c. Its not refundable.

Cash 3,000

3,000

Notes:


Net Assets


23


28. Arkin Corp. is a nongovernmental non-for-profit organization involved in research. Arkinsstatement of functional expenses should classify which of the following as support services?

a. Salaries of staff researchers involved in researchb. Salaries of fundraisers for funds used in researchc. Costs of equipment involved in researchd. Costs of laboratory supplies used in research

(8775)

29. During the current year, Mill Foundation, a nongovernment non-for profit organization,received $100,000 in unrestricted contributions from the general public. Mills board ofdirectors stipulated that $75,000 of these contributions would be used to create anendowment. At the end of the current year, how should Mill report the $75,000 in the netassets section of the statement of financial position?

a. Permanently restrictedb. Unrestrictedc. Temporarily restrictedd. Donor restricted

(7762)

30. Gridiron University is a private university. A successful alumnus has recently donated$1,000,000 to Gridiron for the purpose of funding a center for the study of sports ethics.This donation is conditional upon the university raising matching funds within the next 12months. The university administrators estimate that they have a 50% chance of raising theadditional money. How should this donation be accounted for?

a. As a temporarily restricted supportb. As unrestricted supportc. As a refundable advanced. As a memorandum entry reported in the footnotes

(8787)


24

SIMULATION QUESTIONS

SIMULATION: Nonprofit Promise Transactions

Community Service, Inc. is a nongovernment not-for-profit voluntary health and welfare calendar-year organization that began operations on January 1, year 1. It performs voluntary services and derives its revenue primarily from voluntary contributions from the general public. Community implies a time restriction on all promises to contribute cash in future periods. However, no such policy exists with respect to gifts of long-lived assets.

Items 1 through 4 are based on the following selected transactions that occurred during Communitys year 2 calendar year:

Unrestricted written promises to contribute cash --- year 1 and year 2

--- Year 1 promises (collected in year 2) $22,000 --- Year 2 promises (collected in year 2) 95,000 --- Year 2 promises (uncollected) 28,000

Written promises to contribute cash restricted to use for community college scholarships(year 1 and year 2)

--- Year 1 promises (collected and expended in year 2) 10,000 --- Year 2 promises (collected and expended in year 2) 20,000 --- Year 2 promises (uncollected) 12,000

Written promises to contribute $25,000 if matching funds are raised for the capital campaign during year 2

--- Cash received in year 2 from contributor as a good faith advance 25,000 --- Matching funds received in year 2 0

Cash amount of $37,000 received in year 1 with donors only stipulation that a bus be purchased

--- Expenditure of full amount of donation July 1, year 2 37,000

Items 1 through 4 represent the year 2 amounts that Community reported for selected financial statement elements in its December 31, year 2, statement of financial position and year 2 statement of activities. For each item, indicate whether the amount was Overstated, Understated, or Correctly stated.

Item Choice

1. Community reported $28,000 as contributions receivable.

2. Community reported $37,000 as net assets released from restrictions(satisfaction of use restrictions).

3. Community reported $22,000 as net assets released from restrictions(due to the lapse of time restrictions).

4. Community reported $97,000 as contributions --- temporarily restricted.

(6656)

3

1, 4

221, 4

2

Understated

Understated

Correct

Overstated

28,000+12,000

10,000+20,000+37,000

4. 28,000+12,000=40,000


25

SIMULATION: Nonprofit Statement of Activities

Area Help, Inc. is a nongovernmental not-for-profit voluntary health and welfare calendar-year organization that began operations on January 1, year 1. It performs voluntary services and derives its revenue primarily from voluntary contributions from the general public. Area Help implies a time restriction on all promises to contribute cash in future periods. However, no such policy exists with respect to gifts of long-lived assets.

Items 1 through 7 are based on the following selected transactions that occurred during Area Helps year 2 calendar year:

Debt security endowment received in year 2 income to be used for community service--- Face value $90,000 --- Fair value at time of receipt 88,000 --- Fair value at December 31, year 2 87,000 --- Interest earned in year 2 9,000

10 concerned citizens volunteered to serve meals to the homeless--- 400 hrs. free; fair market value of services $5 per hr. 2,000

Short-term investment in equity securities in year 2--- Cost 10,000 --- Fair value December 31, year 2 12,000 --- Dividend income 1,000

Music festival to raise funds for a local hospital--- Admission fees 5,000 --- Sales of food and drinks 14,000 --- Expenses 4,000

Reading Material donated to Area Help and distributed to the children in year 2--- Fair market value 8,000

Federal youth training fee for service grant--- Cash received during year 2 30,000 --- Instructor salaries paid 26,000

Other cash operating expenses--- Business manager salary 60,000 --- General bookkeeper salary 40,000 --- Director of community activities salary 50,000 --- Space rental (75% for community activities, 25% for office activities) 20,000 --- Printing and mailing costs for pledge cards 2,000

Short-term bank loan in year 2--- Interest payment in year 2 1,000 --- Principal payment in year 2 20,000

For Items 1 through 7, enter the appropriate amount for each of the following financial statement elements in the year 2 statement of activities. Round all amounts to the nearest whole dollar.

Item Amounts

1. Contributions --- permanently restricted

2. Revenues --- fees

3. Investment income --- debt securities

4. Program expenses

5. General fundraising expenses (excludes special events)

6. Income on long-term investments --- unrestricted

7. Contributed voluntary services

(6674)

1, 333

2

4

4

445

88,0005,000Admission fee

9,000-(88,000-87,000)=8,000 8,0008,000+26,000+50,000+20,000x75%=99,000 99,000

Printing & mailing 2,00000

Fair value at time of receipt

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Nonprofit Accounting_LJ1

nonprofit accounting lj

Documents

net assets xxxx

restrictednet assets

nonfinancial assets

unrestricted pledges

net of uncollectibility

net change

net asset account

nonprofit hospital