State the various types of contributions that a private not-for-profit entity can receive.

Explain with examples how Section 404 can impact local governments and not-for-profit organizations?

What are the distinguishing characteristics between a public charity and a private foundation? what is a public support test and how does it relates to public charities and private foundations?

A donor gives a gift to a charity that is to be conveyed to a separate beneficiary. What is the method of reporting for each party if the charity receives variance power enabling it to change the identity of the beneficiary?

What are the distinguishing charasteristics between a public charity and a private foundation? What is a public support test and how does it relate to public charities and private foundations?

Under FASB standards, expenses of a not-for-profit organization can only be shown as reductions of net assets without donor restrictions. O True O False

What is the difference between For-profit organizations and Not-for-profit organizations?

Please describe and illustrate the kinds of restrictions that doners may impose on the use of resources they contribute to nonprofits.

Which of the following statements is correct? Multiple Choice A contribution receivable should be recognized as an asset when the amount can be reasonably estimated AND the ultimate collection is reasonably assured. A contribution receivable should be recognized as an asset when the amount can be reasonably estimated OR the ultimate collection is reasonably assured. Bequests are accrued at the time the donor advises the NFPO of the gift. Government funding is recognized as contribution revenue as long as the government is the direct recipient of the good or service. Group Ends

Which of the following would likely NOT avoid UBIT for an exempt organization? A. The activity is regularly carried on by the organization. B. The individuals who perform substantially all of the work are volunteers. C. The activity is carried on for the benefit of its members. D. The majority of the items sold have been donated to the organization.