Unformatted text preview: r e. Contributed services are recorded as revenues if the service either creates or enhances nonfinancial assets or requires spe c a. With a charitable lead trust the not-for-profit receives periodic payments, when the trust ends any excess principle reverts to b. With a charitable remainder trust periodic payments are made to a donor or beneficiary, when the trust ends any excess pr i n c. With a perpetual trust, the funds are held by a bank or other third party and income from the trust is paid to the not-for-profit ....
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This note was uploaded on 08/14/2011 for the course ACC 380 taught by Professor Any during the Spring '11 term at Ashford University.
- Spring '11