Hi can someone help me to understand the below,
Under US GAAP, if a Non profit org has received permanent endowment/ Cash gift to be invested till perpetuity/Investment for perpetuity - of fund $100 , however at year end the fund Fair market value is $110. It is stipulated that any earning (say $1 earned) can be used for Temporary restricted funds. What will be the Permanent restricted net asset and Temporary restricted net asset reported.? I want to gain a clarity on the difference between the $10 appreciation happened.
Looking forward for help. Thanks in Anticipation
Under US GAAP, if a Non profit org has received permanent endowment/ Cash gift to be invested till perpetuity/Investment for perpetuity - of fund $100 , however at year end the fund Fair market value is $110. It is stipulated that any earning (say $1 earned) can be used for Temporary restricted funds. What will be the Permanent restricted net asset and Temporary restricted net asset reported.? I want to gain a clarity on the difference between the $10 appreciation happened.
Looking forward for help. Thanks in Anticipation