Here are some more nonprofit accounting and financial questions that have come to from and from my workshops and my answers. Question – Should the donor know? I am curious to know if FASB 116 or FASB 117 prohibit the use of endowment as collateral against a line of credit without donor’s acknowledgment or knowledge [...]
Posts Tagged ‘FASB 117’
Functional Accounting
A few years back I co-wrote an article about getting accurate numbers from your financial system for the California Association of Nonprofits that was based on a workshop I developed. This blog post and the last post excerpt some of the material from that piece. For folks who would like the whole article you can [...]
Financial Management
I have written before about for your nonprofit. Now nonprofits have a new tool they can easily use to create their own financial management policies and plans. The Nonprofit Risk Management Center has a new tool called My Financial Management Plan where users can go through up to 21 different modules on nonprofit financial and [...]
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 Standards [...]
