I work for a nonprofit which is home to several named endowed funds. We are getting ready to send out annual statements for 2008. Unfortunately, all the funds suffered a loss. A lot has to do with the economic state we are in, but how do you think would be the best way to approach [...]
Posts Tagged ‘Endowments’
What I Learned From the IRS, Part 1
Questions and Answers from the latest New Form 990 training I did:
For calculating our total assets to determine which form we use, do we exclude property, plant and equipment?
Nope, you use total assets for figuring out which form, either the 990, 990 EZ or the 990 N, to fill out.
When filling out the functional expense [...]
FAS 117-1
Does your nonprofit have a donor-restricted endowment fund or a board-designated endowment fund? Are you hoping to get or create one? Effective for fiscal years ending after December 15, 2008, nonprofit organizations with donor-restricted and board-designated endowment funds are facing changes in financial statement reporting and disclosure requirements.
In August 2008 the Financial Accounting [...]
