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Unformatted text preview: - balance sheet- assets, liabilities- net assets 3) Program service expenditures- things needed to run program Support service expenditures- fundraising, etc 4) Describe and give examples of business-type activities reported by governments 5) Recognize that section 501 (c )3 covers non-profit organizations but does not completely restrict the organizations activities with respect to proportions of revenue that can be spend on program service and support service activities. 6) Recognize that section 501 (c )3 requires that profit making activities be reported separately, and requires that income tax be paid on profits earned by the unrelated business activities...
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This note was uploaded on 01/11/2012 for the course ACTG 241 taught by Professor Staff during the Fall '11 term at James Madison University.
- Fall '11