Nonprofit Accounting Basics

Revenue

Accounting for Special Events

Originally Posted: May 21, 2010

Many special events, such as dinners, galas, auctions, and walk-a-thons, are organized to raise contributions to support the organization’s activities.

Agency Transactions

Originally Posted: June 6, 2009

What are agency transactions?

Agency transactions occur when one NFP (the agent) raises contributions for another NFP (the recipient).

Be Careful What You Ask For

Originally Posted: April 8, 2015

This article illustrates how accounting decisions or judgments can affect taxes - on an organization or on its donors, and vice versa.

Charity Auctions: Reporting and Tax Rules

Originally Posted: April 28, 2015

While neither charity auctions nor the various rules governing them are new, we receive numerous questions about them and observe many examples of inadequate auction procedures by both large and sm

Corporate Sponsorships: Do Them Right and Avoid Tax

Originally Posted: June 4, 2012

Exempt organizations, both large and small, are relying more and more on a variety of corporate sponsorships to provide much-needed support for events and programs.

Deferred Revenue

Originally Posted: February 13, 2018

Donor Imposed Restrictions

Originally Posted: June 6, 2009

What are "donor-imposed" restrictions?

FASB116 focuses on the concept of restricted revenue.

Exchange Transactions

Originally Posted: June 6, 2009

Factors that may indicate an exchange transaction:

Often it is difficult to distinguish between a contribution and an exchange transaction, the following factors are indicative of an exchan

Get Smart About Art Donations

Originally Posted: December 27, 2016

Non-cash Contributions

Lessons Learned from Adoption of Topic 606, Revenue Recognition

Originally Posted: January 28, 2022

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09

Raffles -- The Right Way

Originally Posted: August 27, 2012

Raffles are gaining popularity for nonprofit fundraising. Often combined with a gala or other big event, raffles are accessible and fun.

Revenue Recognition Standard: Implementation Considerations and Disclosure Requirements

Originally Posted: March 22, 2016

On May 28, 2014, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) issued substantially converged final standards on revenue recognition.

Split-Interest Agreements

Originally Posted: June 6, 2009

What are "split-interest" ("planned giving") agreements?

Split-interest agreements, also known as planned giving, are contributions that assign the legal rights to certain assets to an NFP

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