Section 3...Not for Profit

Question 1

Cash Flows

Answer 1

Donations with donor restrictions goes on Financing section
Donations without donor restrictions goes on Operating section

Question 2

Types of expenses

Answer 2

Program services - related directly to the mission
Supporting expenses - Mgnt salaries, fundraising, etc.

Question 3

“Cash” Considerations

Answer 3

Includes UNCONDITIONAL promises to give.

Question 4

Financial Statements Required

Answer 4

Statement of Financial Position
Statement of Activities
Statement of Cash Flows

**For Statement of Funcitional Expenses, MUST be presented on face of Statement of Activities, as a note to the financials, or as a separate statement.