Beginning in 2018, this is one of two classifications of net assets reported on the financial statements of a not-for-profit organization’s financial statements. This classification is to be used instead of the following two classifications: temporarily restricted net assets and permanently restricted net assets. Beginning in 2018, the other classification of net assets reported on the financial statements of a not-for-profit organization is net assets without donor restrictions. To learn more see our Explanation of Nonprofit Accounting.
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For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.
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