A statement of financial position for a nongovernmental non for profit organization reports amounts for which of the following classes of net assets?

On December 1, Year 1, the Gregory Corporation makes a donation of $100,000 to the Family Services Foundation, a private not-for-profit organization. Gregory requests that Family Services give the money to The Soup Kitchen, another not-for-profit organization, but allows Family Services to give the money to another organization if it seems more appropriate. On December 23, Year 1, Family Services gives the money to The Soup Kitchen. When will each organization recognize the gift as contributed support?

A statement of financial position for a nongovernmental non for profit organization reports amounts for which of the following classes of net assets?

Of the following, which would be included as a part of total net assets in the statement of financial position for a nongovernmental non for profit entity?

The New York Museum of Art is a private, not-for-profit organization. It receives a gift of a painting worth $1 million on the date of the gift, which qualifies as a work of art or historical treasure. How will this donation be recorded by the museum?

The New York Museum of Art is a private, not-for-profit organization. It receives a gift of a painting worth $1 million on the date of the gift, which qualifies as a work of art or historical treasure. How will this donation be recorded by the museum?

Of the following, which would be included as a part of total net assets in the statement of financial position for a nongovernmental non for profit entity?

On December 1, Year 1, the Gregory Corporation makes a donation of $100,000 to the Family Services Foundation, a private not-for-profit organization. Gregory requests that Family Services give the money to The Soup Kitchen, another not-for-profit organization, but allows Family Services to give the money to another organization if it seems more appropriate. On December 23, Year 1, Family Services gives the money to The Soup Kitchen. When will each organization recognize the gift as contributed support?

A man donated securities with a cost of $20,000 and a fair market value of $50,000 to a local theatre. His tax deduction was limited to $30,000. At what amount should the theatre record the securities at the date of donation?

The ABC museum, a not for profit organization, received a contribution of historical artifacts. It need not recognize the contribution if the artifacts are to be sold and the proceeds used to: