Summary
Nonprofit revenue comes in many shapes and sizes; each type must be recorded on your financial statements. However, translating the accounting rules and determining the timing and amount of contribution revenue to record can seem complicated.
Luckily, Gina McDonald, Managing Director at BDO, has made herself available for a one-hour master class for nonprofit financial leaders on revenue recognition for contributions – a topic which she makes endlessly interesting. Here we will explore the practical implications of such things as:
- Donor-imposed conditions and time and purpose restrictions, including how to evaluate:
- Multi-year awards,
- Government grants, and
- Long-term pledges receivable.
We have structured this session with a lot of time for questions from nonprofit financial leaders to ensure we get into those quirky questions of timing and type that can make such a difference in your audits and other reporting.
