If 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?
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 charity receives variance powers enabling it to change the identity of the ...The Sunshine NFP, a not-for-profit organization, gains control over Dancing Bears NFP, another not-for-profit. The acquisition value of Dancing Bears is $2.3 million, but all of its identifiable assets and liabilities have a ...What ratio is frequently used to assess the efficiency of not-for-profit organizations?Under Lennon Hospital’s rate structure, it earned patient service revenue of $9 million for the year ended December 31, 2010. However, Lennon did not expect to collect this entire amount because it deemed $1.4 million to ...At the beginning of Year 1, the organization received $50,000 in cash as a gift with the stipulation that the money be used to buy a bus for its use. It made the appropriate entry at that time. On the first day of Year 2, ...
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