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March/April 2022 » New Reporting and Disclosure Requirements...
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Mercy Pascual, , CPA, and John D'Amico, , CPA
Almost all not-for-profit organizations rely on contributions to help fulfill their mission. Contributions can either be in the form of financial assets, such as cash and investments, or nonfinancial assets, generally referred to as gifts-in-kind. But all not-for-profits are required to be transparent in reporting those contributions, which may be less straightforward to quantify than cash donations.
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