What are Permanently Restricted Net Assets in a Non-profit Organization?
Permanently restricted net assets are a portion of a nonprofit organization's net assets that are subject to donor-imposed restrictions on their use, and these restrictions are permanent in nature....
Net assets are the difference between an organization's total assets and total liabilities. In accounting, assets are anything of value that an organization owns or has the right to use, such as...
What are Inter-Fund Receivables and Payables in Nonprofit Accounting?
Inter-fund receivables and payables are transactions that occur between different funds within the same organization. In nonprofit accounting, organizations often have multiple funds to track...
What are Functional Expense Categories in Nonprofit Accounting?
Functional Expense Categories refer to the classification of expenses based on the purpose for which they were incurred in nonprofit organizations. Nonprofit organizations are required to report...
Donor restrictions are conditions placed by donors on their contributions to a nonprofit organization that dictate how the funds should be used. These restrictions can vary widely depending on the...
Board Designated Funds in a nonprofit are funds that have been set aside for a specific purpose by the organization's governing board. These funds are often created when the board decides to...
