Topic Tag: grant with donor restrictions
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- We received a foundation grant in the amount of 1 million dollars that covers three years of activities for one of our programs. Our auditor says that we have to record the entire amount in the current year. This doesn’t make sense. Why do we have to record the whole amount in the current year? Shouldn’t we record 1/3 of the grant in each of the three years?
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- 6 years, 1 month ago
- We received a foundation grant in the amount of 1 million dollars that covers three years of activities for one of our programs. Our auditor says that we have to record the entire amount in the current year. This doesn’t make sense. Why do we have to record the whole amount in the current year? Shouldn’t we record 1/3 of the grant in each of the three years?
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