A not-for-profit hospital receives a $150,000 donation that must be used for a specific research project.The hospital anticipates that it will undertake the project next year.How should the hospital report the donation?

Question

Quizplus · Accepted Answer

The donation is designated for a specific research project, so it should be reported as temporarily restricted support until the project is undertaken. Once the project is completed, any remaining funds could be released from the restriction and reported as unrestricted support.

A Not-For-Profit Hospital Receives a $150,000 Donation That Must Be