If a donor gives a charity a gift that the charity must convey to a separate beneficiary, what is the normal method of reporting for each party?
Answer to relevant QuestionsIf a donor gives a charity a gift that the charity must convey to a separate beneficiary, what is the method of reporting for each party if the donor retains the right to revoke or redirect use of the gift?When should membership dues be considered revenue rather than contributions?What two general types of expenses do private not-for-profit organizations report?The following questions concern the appropriate accounting for a private not-for-profit health care entity. Write complete answers for each question.a. What is a third-party payor, and how have third-party payors affected ...During Year 1, the organization received a gift of $80,000. The donor specified that this money be invested in government bonds with the interest to be used to pay the salaries of the organization’s employees. The gift was ...
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