This project will put you in the role of an accountant for a nonprofit. You will select a nonprofit organization to evaluate for this assignment and apply the concepts presented this week to appropriately record and evaluate the organization.
Obtain a copy of the annual report for a private nonprofit organization. Then, in a 3- to 5-page paper answer the following questions based on the report.
- What financial statements are presented?
- How are the contribution revenues recognized?
- Does the organization have temporarily restricted net assets? What is the nature of the restrictions?
- Does the organization have permanently restricted assets?
- Compute the ratio of program expenses to total expenses.
- What is the percent spent on fundraising?
- What are their total assets?
- How would you evaluate this nonprofit based on your analysis of the financial statements? Discuss the financial data you consider most important in making that judgment. Use 10 of the 20 standards from the Better Business Bureau Wise Giving Alliance as a guide.(https://www.bbb.org/us/charity/)
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