Monday, December 29, 2008

The NonProfit Times - The Leading Business Publication For Nonprofit Management

The NonProfit Times - The Leading Business Publication For Nonprofit Management: "New Nonprofit Investment Rules About To Hit

Nonprofit organizations with donor-restricted endowment funds and board-designated endowment funds are facing changes in financial statement reporting and disclosure requirements in the immediate future. Now is the time to ensure that your organization will be ready for these changes.

The Financial Accounting Standards Board (FASB) this past August issued FASB Staff Position (FSP) No. FAS 117-1, “Endowments of Not-for-Profit Organizations: Net Asset Classifications of Funds Subject to an Enacted Version of the Uniform Prudent Management of Institutional Funds Act (UPMIFA), and Enhanced Disclosures for All Endowment Funds.” The FSP’s objective is two-fold:"

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