{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/310/958/#05-overview-and-background","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"310","topic_title":"Receivables","subtopic":"310-958","subtopic_title":"Not-for-Profit Entities","section":{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"310-958-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic provides guidance about a type of receivable unique to <a href=\"/glossary/n/#not-for-profit-entity\" class=\"term\" title=\"An entity that possesses the following characteristics, in varying degrees, that distinguish it from a business entity: Contributions of significant amounts of resources from resource providers who do not expect commensurate or proportionate pecuniary return Operating purposes other than to provide goods or services at a profit Absence of ownership interests like those of business entities. Entities that clearly fall outside this definition include the following: All investor-owned entities Entities that provide dividends, lower costs, or other economic benefits directly and proportionately to their owners, members, or participants, such as mutual insurance entities, credit unions, farm and rural electric cooperatives, and employee benefit plans.\"><span>not-for-profit entities</span></a> (NFPs)—<a href=\"/glossary/p/#promise-to-give\" class=\"term\" title=\"A written or oral agreement to contribute cash or other assets to another entity. A promise carries rights and obligations—the recipient of a promise to give has a right to expect that the promised assets will be transferred in the future, and the maker has a social and moral obligation, and generally a legal obligation, to make the promised transfer. A promise to give may be either conditional or unconditional.\"><span>promises to give</span></a> (<a href=\"/glossary/c/#contribution\" class=\"term\" title=\"An unconditional transfer of cash or other assets, as well as unconditional promises to give, to an entity or a reduction, settlement, or cancellation of its liabilities in a voluntary nonreciprocal transfer by another entity acting other than as an owner. Those characteristics distinguish contributions from:Exchange transactions, which are reciprocal transfers in which each party receives and sacrifices approximately commensurate valueInvestments by owners and distributions to owners, which are nonreciprocal transfers between an entity and its ownersOther nonreciprocal transfers, such as impositions of taxes or legal judgments, fines, and thefts, which are not voluntary transfers. In a contribution transaction, the resource provider often receives value indirectly by providing a societal benefit although that benefit is not considered to be of commensurate value. In an exchange transaction, the potential public benefits are secondary to the potential direct benefits to the resource provider. The term contribution revenue is used to apply to transactions that are part of the entity's ongoing major or central activities (revenues), or are peripheral or incidental to the entity (gains). See also Inherent Contribution and Conditional Contribution.\"><span>contributions</span></a>) receivable. NFPs also shall apply the initial recognition and measurement standards for promises to give in Subtopic <a altsource=\"GUID-321821C4-A902-48C5-813E-F1139B6F5740.ditamap\" class=\"ditamap\">958-605</a>.</div></div>","snippet":"This Subtopic provides guidance about a type of receivable unique to not-for-profit entities (NFPs)—promises to give (contributions) receivable. NFPs also shall apply the initial recognition and measurement standards for…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:269a2b0f57e5a439b7ce9eff566c6644ef7322e1c6b81f32d881a062147788b4","downloaded_from":"2026-09-09T23:32:07.583Z","last_downloaded_at":"2026-09-09T23:32:07.583Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478931","source_sha256":"699d9ecc1178fc2228fae7a17e16eb91793edaf8a33c9b3cc3bc2211167bf6fb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f97374760c0c2f98e8679ef828a3d8dc44381a328365e591a485c0b3d7b8afbb","downloaded_from":"2026-09-09T23:32:07.583Z","last_downloaded_at":"2026-09-09T23:32:07.583Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478931","source_sha256":"699d9ecc1178fc2228fae7a17e16eb91793edaf8a33c9b3cc3bc2211167bf6fb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bcb3e931b207bfeafc5d5e008d256cb2acff405ec4dc00b2b20e0f6275626235","downloaded_from":"2026-09-09T23:32:07.583Z","last_downloaded_at":"2026-09-09T23:32:07.583Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478931","source_sha256":"699d9ecc1178fc2228fae7a17e16eb91793edaf8a33c9b3cc3bc2211167bf6fb"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bcb3e931b207bfeafc5d5e008d256cb2acff405ec4dc00b2b20e0f6275626235","downloaded_from":"2026-09-09T23:32:07.583Z","last_downloaded_at":"2026-09-09T23:32:07.583Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478931","source_sha256":"699d9ecc1178fc2228fae7a17e16eb91793edaf8a33c9b3cc3bc2211167bf6fb"}}