A condition is effectively a barrier that must be overcome before a promised gift becomes a contribution. A part of the definition of a contribution is that it is an unconditional promise to transfer assets to a nonprofit. I received a question about conditional contributions that went along the lines of “is a contribution conditional [...]
Posts Tagged ‘Donation Transactions’
Donation Transactions
There have been questions at my trainings on the specific journal entries for donations to be auctioned off or re-sold. From the great PPC Guides, I recommend them to any nonprofit finance professional, an excerpt: “Organizations may receive contributions of gifts-in-kind to be used for fund-raising purposes. A common example is where an organization receives [...]
Gifts-In-Kind Valuation
Several questions from my trainings have been about non-cash donations and how to value them. The PPC Guide to Contributions has the best guidance out there on the subject and I still highly recommend them, a worthy investment for your nonprofits financial well being. How do we value food donations for our “Taste Of…” event? [...]
