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Revenue recognition resource guide for not-for-profits

March 1, 2018 White Paper 5 minute read
Authors:
Kris Ray
With major changes in how not-for-profits recognize exchange revenue, organizations are preparing for implementation of the new revenue recognition standard. Use our not-for-profit revenue recognition guide to help simplify adoption.

Image of volunteers serving food at a soup kitchen.The new revenue recognition guidance is here, and the amount of work involved to switch to the new framework for how not-for-profits recognize exchange revenue can take significant time. Additionally, not-for-profit entities with publicly traded debt may need to implement the new framework a year earlier than other not-for-profit entities.

The new standard applies to all contracts with customers. With so much variance in contracts used in not-for-profit organizations, you won’t be able to use a standard template. Instead you'll need to analyze each contract or group of similar contracts.

What's inside:

Our revenue recognition resource guide for not-for-profits identifies areas of likely impact for many not-for-profit organizations, including:

  • Government and other grants
  • Splitting of revenue between contribution and exchange, including special event revenue, sponsorship agreements, and membership contracts
  • Identification of separate performance obligations, including those related to membership revenue, fee-for-service contracts, association fees, research and development contracts, tuition and fees
  • Implementation timeline
  • The five-step revenue recognition process
  • Impact on tax and financial statements

Download our Revenue recognition resource guide for not-for-profits to help your organization implement the new standard.

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