What special abuse does the AICPA address in its statement of position on the allocation of fund-raising costs? What general criteria does it establish as to when common costs of materials and activities that include a fund-raising appeal can be allocated to programmatic, rather than fund-raising, activities?
Answer to relevant QuestionsWhy is the “fund-raising ratio” of key concern to both donors and ﬁnancial analysts?During 2014 the Lung Association received a contribution of marketable securities that were to be placed in a permanent endowment fund. Neither donor stipulations nor applicable state law requires that capital gains or ...Sea Life Aquarium, a not-for-proﬁt entity, received a contribution of $500,000 that must be used to acquire plant and equipment. In the following year it applied the gift toward the purchase of various items of plant and ...What are the key reporting options for private colleges and universities?Select the best answer.1. In June 2015, a public university bills and collects $30 million in tuition for the summer semester that runs from June 1 through July 15. In addition, in May and June it bills $200 million for the ...
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