Overview
As not-for-profits continue to face challenges related to raising money, they are becoming more creative in soliciting donations, resulting in more donations of noncash assets and greater restrictions on contributions received. This is occurring at the same time that there is a higher focus on the definition of fair value. Contributions of gifts and services should be measured at the fair value of the assets or services received or promised. FAS 157, Fair Value Measurements, introduces new concepts of determining fair value of donations to not-for-profit organizations. Understanding and applying fair value concepts to certain assets where there is no observable market as in pledges and noncash assets is likely to present challenges as well as implementation issues. After viewing this OnDemand Webinar, you will have a clear understanding of issues related to identify contributions and restrictions. This program will cover issues related to valuing and recording certain common donations of noncash items, such as pledges, stock, services and works of art. We will also cover the impact of fair value measurements on recording contributions and how to implement the new fair value measurements from an organizational perspective. This workshop is critical for those who are responsible for overseeing the financial operations of any not-for-profit organization.
Authors
Rebeka J. Mazzone, CPA, Leigh J. Tucker, CPA, Accounting Management Solutions, Inc.
Self Study Credit - OnDemand Webinar
| CLE | 1.5 | AZ, CA, IL, MS, MT, NC, PA, TN, VT, WA, WI | |
| CLE | 1.8 | MO, WV | |
Self Study Credit - CD & Reference Manual
| CLE | 1.5 | AZ, CA, MT, NV, UT, VT, WA | |
| CLE | 1.8 | MO, WV | |
Self Study Credit - Podcast
| CLE | 1.5 | CA, ME, MT, NV | |
| CLE | 1.8 | MO, WV | |
Agenda
- Overview
- Objectives
- Technical Resources
- Recognition of Revenue
- Exchange
- Agency
- Contributions
- Donor Imposed Restrictions
- Unrestricted
- Temporarily Restricted
- Permanently Restricted
- Issues Related to Contributions
- Recognition of Promises to Give
- Conditional Contributions
- Discounting of Pledges Receivable
- Recognize Split-Interest Agreements
- Distinguish From Exchange and Agency Transactions
- Identifying a Promise to Give
- Conditional Contributions
- Other Contribution Items
- Donated Securities
- Donated Services
- Donations of Long-Lived Assets
- Donated Collections
- Split-Interest Agreements
