On the financial statements of a not-for-profit organization, the term that refers to the accumulated excess of revenues over expenses is:

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Net assets is the term that refers to the accumulated excess of revenues over expenses on the financial statements of a not-for-profit organization. It includes both restricted and unrestricted net assets. Retained surplus and net equity are not commonly used terms in not-for-profit accounting, and fund balance only applies to governmental accounting.

On the Financial Statements of a Not-For-Profit Organization, the Term