Hello! I am doing accounting work for a local non-profit organization who will be holding a fundraiser soon. At this fundraiser (“Fundraiser A”) there will be a silent auction. Among the many items offered will be a few “sign up parties”, one of which will be a sign up for another fundraiser (“Fundraiser B”) to be held later in the year. My question is how do I record the income (which will primarily be revenue from the people who have signed up for the fundraiser) and expenses (catering, venue, vendors, etc.) for “Fundraiser B” since the greatest amount of income will technically be revenue from “Fundraiser A”’s silent auction? Would this be an equity transfer, etc. situation? Just not sure how to correctly account the balances for both events. Thanks!
USA Non-Profit Fundraising Accounting
- Thread starter blue2019
- Start date
If Silent Auction A offers an auction item which is a ticket to Auction B, I think you should treat the auction A sale as a presale of a B ticket. Since the A auction price may differ from the actual B ticket price, I think the difference in price should be recorded as part of the A auction.