The Financial Accounting Standards Board has issued a proposed FASB Staff Position on the endowments of nonprofit organizations that could have large implications for how they recognize their assets and use donor-restricted funds.
FSP 117-a, "Endowments of Not-for-Profit Organizations: Net Asset Classification of Funds Subject to an Enacted Version of the Uniform Prudent Management of Institutional Funds Act, and Enhanced Disclosures," provides guidance on classifying the net assets and equity associated with donor-restricted endowment funds that are subject to an enacted version of UPMIFA.
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