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MSB WTR10 AC330 XM1
MSB GovNFP Unit 11
| Question | Answer |
|---|---|
| NFP organizations which provide public health and welfare services for a minimal payment; largely funded through public donations. | Voluntary Health and Welfare organizations (VHWO) or Human Service Organizations |
| Difference between total assets and total liabilities. | Net Assets |
| Most investment income, revenues from services, and contributions with either no stipulated restrictions or restrictions having thus expired. | Unrestricted Net Assets |
| Type of unrestricted net asset which is set aside by the governing board. | Board Designated Net Assets |
| Contributions upon which limited restrictions apply. | Temporarily Restricted Net Assets |
| Contibutions that restrict the use of principal but not that of investment income arising from such. | Permanently Restricted Net Assets or Endowments |
| Transaction in which both parties receive contribution of like value. | Exchange Transactions |
| Increases in unrestricted net assets arising from exchange transactions. | Revenues |
| Increases in net assets arising from transactions largely beyond the control of management. | Gains |
| Category of revenues arising from nonexchange transactions. | Support |
| Transactions in which the doner receives no tangible benefits from their contributions. | Nonexchange transactions |
| A nonexchange transaction made to an organization. May be cash, assets, or services. | Contribution |
| Pledges to give assets to an organization; may be conditional or unconditional. | Promises to Give |
| A pledge to give conditional upon the occurence of some future event. | Conditional Promise to Give |
| A pledge to give which is to be met in the future. | Unconditional Promise to Give |
| Noncash donations... | Gifts in Kind |
| Works of art, antiquities, etc that are 1. held for public exhibition, research, or education 2.Preserved and unencumbered 3.Subject to organitional doctrine stipulating sales proceeds arising from the sale of such be used for replacement with like kind | Collections |
| Interest in another entity due to closely tied financial proximities. | Economic Interest |
| The option given to a pass through entity with regards to their option to redirect donated funds from the specified beneficiary to one financially interrelated to the same. | Variance Power |
Created by:
samantha.lutz2
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