Securities are debt or equity financial instruments that produce income and can be sold to raise cash.
Investments
100
Amount that the non-profit owes to outside sources
Accounts payable and accrued expenses
100
Cash account in your checkbook after it's fully reconciled.
Cash
100
Sometimes a non-profit may have to put money into an escrow account (or give the money to a third party until certain conditions are met). What is the name of the line for this amount on the IRS-990?
Escrow account liability
200
The claims of outsiders against an organization's resources.
Liabilities
200
Items that are normally shown at the cost of acquiring them (minus the appropriate depreciation) not at the price they would fetch on the open market.
Investments held as land, buildings, and equipment
200
A three year membership would be categorized as what type of current liability?
Deferred revenue
200
Unpaid money owed to the organization from outside sources for services rendered.
Accounts receivable
200
Money provided on a provisional basis to the non-profit from officers and directors.
Loans from officers and directors
300
The total difference between an organization's assests and liabilities
Net assets or fund balance
300
These are operational holdings, distinct from the investment holdings.
Land, building, and equipment
300
What are obligations that the non-profit owes within the next year?
Current liability
300
Funds promised to an organization from grant-makers, individual donors, and other sources, but has not yet been received.
Pledges and grants receivable
300
The long-term debt incurred when renovating or purchasing a new building for the non-profit.
Mortgages and other notes payables
400
The balance sheet equation
Assets = Liabilities + Fund balance (equity)
400
This term is also known as intellectual property such as patents or protected methods.
Intangible assets
400
These funds were promised to be paid on the financial statements, but have yet to be paid to an outside organization or individual.
Grants payable
400
The accumulation of raw materials, supplies, and other products that are waiting to be used in delivering services or making a product.
Inventories
400
What is the name of the liability non-profits incur when they offer bonds that have a lower interest rate and favorable tax treatment?
Tax-exempt bond liabilities
500
The annual document that includes a balance sheet. It is used by non-profits to report information about their finances and operations to the federal government.
IRS 990
500
These investments are assets held by the company, such as bonds, stocks, or notes.
Longterm investments
500
What is the difference between a current and non-current liability?
A current liability is an obligation/amount owed within the year.
500
Benefits or expenses that have already been paid for and will be realized by the organization at some point in the future.