Gifts-In-Kind: New Reporting Rules for Nonprofits

Contributions of nonfinancial assets or so-called “gifts-in-kind" (“GIK”) can be an important source of financial support for nonprofits.

The latest FASB Accounting Standards: “How do I characterize thee? Let me count the ways: Fish or fowl; reciprocal or nonreciprocal; conditional or unconditional?”

There have been a lot of changes in the accounting practices for nonprofits over the past couple of years.

FASB’s New Financial Reporting Rules for Nonprofit Organizations | What You Need to Know

On August 18, 2016, the Financial Accounting Standards Board (FASB) issued new rules for nonprofits: “...