{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/320/958/","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.","number":"320-958","topic":"320","title":"Not-for-Profit Entities","area":"Assets","paragraphs":46,"summary":"This Subtopic (codified as 958-320) governs how not-for-profit entities account for investments in debt securities and sets disclosure rules for most NFP investments. The core rule is simple and different from the business-entity model: all debt securities held by an NFP are carried at fair value in the statement of financial position, with no held-to-maturity, trading, or available-for-sale classification. Purchased securities are initially measured at acquisition cost (excluding brokerage and other transaction fees); contributed securities and those received in agency transactions are initially measured at fair value.","concepts":["debt security","fair value measurement","not-for-profit investments","agency transaction","contributed securities","concentration of market risk","major types of investments","scope exceptions"],"categories":["Financial instruments","Not-for-profit","Subsequent measurement","Disclosure"],"level":"intermediate","topic_title":"Investments—Debt Securities","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"320-958-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
Paragraph Action Accounting Standards Update Date
Agency Transaction Added Accounting Standards Update No. 2015-10 06/12/2015
Agency Transactions (Not for Profits) Superseded Accounting Standards Update No. 2015-10 06/12/2015
Board-Designated Endowment Fund Amended Accounting Standards Update No. 2016-14 08/18/2016
Conditional Contribution Added Accounting Standards Update No. 2018-08 06/21/2018
Contribution Amended Accounting Standards Update No. 2018-08 06/21/2018
Contribution Amended Accounting Standards Update No. 2010-07 01/28/2010
Debt Security (1st def.) Amended Accounting Standards Update No. 2016-19 12/14/2016
Debt Security Added Accounting Standards Update No. 2016-01 01/05/2016
Donor-Imposed Condition Added Accounting Standards Update No. 2018-08 06/21/2018
Donor-Imposed Restriction Added Accounting Standards Update No. 2016-14 08/18/2016
Donor-Restricted Endowment Fund Amended Accounting Standards Update No. 2016-14 08/18/2016
Endowment Fund Amended Accounting Standards Update No. 2016-14 08/18/2016
Equity Security (1st def.) Superseded Accounting Standards Update No. 2016-01 01/05/2016
Funds Functioning as Endowment Added Accounting Standards Update No. 2016-14 08/18/2016
Net Assets Amended Accounting Standards Update No. 2016-14 08/18/2016
Net Assets with Donor Restrictions Added Accounting Standards Update No. 2016-14 08/18/2016
Net Assets without Donor Restrictions Added Accounting Standards Update No. 2016-14 08/18/2016
Permanently Restricted Net Assets Superseded Accounting Standards Update No. 2016-14 08/18/2016
Programmatic Investing Added Accounting Standards Update No. 2016-14 08/18/2016
Promise to Give Added Accounting Standards Update No. 2018-08 06/21/2018
Readily Determinable Fair Value Superseded Accounting Standards Update No. 2016-01 01/05/2016
Readily Determinable Fair Value Amended Accounting Standards Update No. 2015-10 06/12/2015
Readily Determinable Fair Value Amended Accounting Standards Update No. 2014-06 03/14/2014
Spending Rate Added Accounting Standards Update No. 2014-06 03/14/2014
Temporarily Restricted Net Assets Superseded Accounting Standards Update No. 2016-14 08/18/2016
Unrestricted Net Assets Superseded Accounting Standards Update No. 2016-14 08/18/2016
958-320-05-1 Amended Accounting Standards Update No. 2016-01 01/05/2016
958-320-05-2 Amended Accounting Standards Update No. 2016-01 01/05/2016
958-320-15-1A through 15-4
 Amended Accounting Standards Update No. 2016-01 01/05/2016
958-320-15-1A Added Accounting Standards Update No. 2012-04 10/01/2012
958-320-15-6 Amended Accounting Standards Update No. 2016-01 01/05/2016
958-320-15-7 Amended Accounting Standards Update No. 2016-01 01/05/2016
958-320-25-1 Amended Accounting Standards Update No. 2016-01 01/05/2016
958-320-25-1 Amended Maintenance Update 2015-11 (PDF) 06/19/2015
958-320-25-2 Amended Maintenance Update 2016-05 (PDF) 04/12/2016
958-320-25-2 Superseded Accounting Standards Update No. 2016-01 01/05/2016
958-320-25-2 Amended Accounting Standards Update No. 2014-06 03/14/2014
958-320-30-1 Amended Accounting Standards Update No. 2016-01 01/05/2016
958-320-35-1 Amended Accounting Standards Update No. 2016-01 01/05/2016
958-320-35-2 Superseded Accounting Standards Update No. 2016-01 01/05/2016
958-320-35-3 Amended Accounting Standards Update No. 2015-10 06/12/2015
958-320-45-1 Amended Accounting Standards Update No. 2016-14 08/18/2016
958-320-45-1 through 45-10
 Superseded Accounting Standards Update No. 2016-01 01/05/2016
958-320-45-2 Superseded Accounting Standards Update No. 2016-14 08/18/2016
958-320-45-3 through 45-5
 Amended Accounting Standards Update No. 2016-14 08/18/2016
958-320-45-5 Amended Accounting Standards Update No. 2012-04 10/01/2012
958-320-45-6 Amended Accounting Standards Update No. 2012-04 10/01/2012
958-320-45-8 Amended Accounting Standards Update No. 2016-14 08/18/2016
958-320-45-9 Amended Accounting Standards Update No. 2014-06 03/14/2014
958-320-50-1 Superseded Accounting Standards Update No. 2016-14 08/18/2016
958-320-55-3 Superseded Accounting Standards Update No. 2016-01 01/05/2016
958-320-55-4 Amended Accounting Standards Update No. 2016-14 08/18/2016
958-320-55-5 Superseded Accounting Standards Update No. 2016-14 08/18/2016
958-320-55-5 Amended Accounting Standards Update No. 2016-13 06/16/2016
958-320-55-5 Amended Accounting Standards Update No. 2014-06 03/14/2014
958-320-55-6 through 55-8
 Amended Accounting Standards Update No. 2016-14 08/18/2016
958-320-55-9 Superseded Accounting Standards Update No. 2016-14 08/18/2016
958-320-55-10 Superseded Accounting Standards Update No. 2016-14 08/18/2016
958-320-55-11 Added Accounting Standards Update No. 2016-14 08/18/2016
958-320-60-1 Superseded Accounting Standards Update No. 2022-02 03/31/2022
958-320-60-1 Amended Accounting Standards Update No. 2016-01 01/05/2016
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nAgency Transaction | Added | Accounting Standards Update No. 2015-10 | 06/12/2015 |\nAgen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fbca214bb00e454f6cc5c41490f90e159de349a4c758096338ae3587790465fe","downloaded_from":"2026-09-09T23:37:46.933Z","last_downloaded_at":"2026-09-09T23:37:46.933Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478110","source_sha256":"a0a35eae12fd9e3a857e810f7d26221e9b94913d3c9eb304bc40f13fd19f885e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:50c862d4c57ebc03d50422cd5ea2b491f5186d9d05a676d27673c8a5fa1e0a07","downloaded_from":"2026-09-09T23:37:46.933Z","last_downloaded_at":"2026-09-09T23:37:46.933Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478110","source_sha256":"a0a35eae12fd9e3a857e810f7d26221e9b94913d3c9eb304bc40f13fd19f885e"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3ed5e6ddce473989221d1b906cee264f67c5ad61e05344c9b0c5d8491dead5a6","downloaded_from":"2026-09-09T23:37:46.933Z","last_downloaded_at":"2026-09-09T23:37:46.933Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478110","source_sha256":"a0a35eae12fd9e3a857e810f7d26221e9b94913d3c9eb304bc40f13fd19f885e"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"320-958-05-1","para":"05-1","html":"
The Not-for-Profit Entities Topic contains several Subtopics for investments held by not-for-profit entities (NFPs) because the guidance differs by form of the investment. The Subtopics are:
  1. a
    Financially Interrelated Entities
  2. b
    Investments—Debt Securities
  3. bb
    Investments—Equity Securities
  4. c
    Investments—Other
  5. d
    Consolidation.
","snippet":"The Not-for-Profit Entities Topic contains several Subtopics for investments held by not-for-profit entities (NFPs) because the guidance differs by form of the investment. The Subtopics are:\n(a) Financially Interrelated …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:68cca221f90b52a07612b83f35880528d22de7d02c7441860ca2cb4919933a4c","downloaded_from":"2026-09-09T23:37:48.647Z","last_downloaded_at":"2026-09-09T23:37:48.647Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477299","source_sha256":"2ac9591c9eccf3c440c2ad3b58ada4c7e776fd357a8c702787b9cb7620fd0117"}},{"citation":"320-958-05-2","para":"05-2","html":"
This Subtopic establishes standards of financial accounting and reporting for all investments in debt securities held by NFPs. It also establishes disclosure requirements for those and most other investments held by NFPs.
","snippet":"This Subtopic establishes standards of financial accounting and reporting for all investments in debt securities held by NFPs. It also establishes disclosure requirements for those and most other investments held by NFPs…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5694e6108573dff1a38d7c609a5c45fc80a507b1f59513f94a04fc7a0f2c7c31","downloaded_from":"2026-09-09T23:37:48.647Z","last_downloaded_at":"2026-09-09T23:37:48.647Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477299","source_sha256":"2ac9591c9eccf3c440c2ad3b58ada4c7e776fd357a8c702787b9cb7620fd0117"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:db3ea88ab9da0ad6465e428498cff750bfeb4a35fd7265831bc3f59454c43975","downloaded_from":"2026-09-09T23:37:48.647Z","last_downloaded_at":"2026-09-09T23:37:48.647Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477299","source_sha256":"2ac9591c9eccf3c440c2ad3b58ada4c7e776fd357a8c702787b9cb7620fd0117"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a8142aeee05c1a1e4b093f108bc18d0c09b792903e9d56255405bdd50782ce08","downloaded_from":"2026-09-09T23:37:48.647Z","last_downloaded_at":"2026-09-09T23:37:48.647Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477299","source_sha256":"2ac9591c9eccf3c440c2ad3b58ada4c7e776fd357a8c702787b9cb7620fd0117"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"320-958-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 958-10-15, with specific exceptions noted below.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 958-10-15, with specific exceptions noted below.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:806c43b5777f52d963ee707dd3cdf0f133fa2cd96802180c54313d68ca9ac5b7","downloaded_from":"2026-09-09T23:37:50.575Z","last_downloaded_at":"2026-09-09T23:37:50.575Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478847","source_sha256":"1345b6df71a3e9b7f628b0f2f7ed7d1432b054b729571400bb2c1f22283470bb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:45513e406702b9b8ca3e138563f607af730b002f5d251cd664aa331141ce102b","downloaded_from":"2026-09-09T23:37:50.575Z","last_downloaded_at":"2026-09-09T23:37:50.575Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478847","source_sha256":"1345b6df71a3e9b7f628b0f2f7ed7d1432b054b729571400bb2c1f22283470bb"}},{"block":null,"heading":"Health Care Entities","paragraphs":[{"citation":"320-958-15-1A","para":"15-1A","html":"
The application of this Subtopic by not-for-profit, business-oriented health care entities, as described in paragraph 954-10-05-2(b), is subject to additional guidance in Subtopic 954-220.
","snippet":"The application of this Subtopic by not-for-profit, business-oriented health care entities, as described in paragraph 954-10-05-2(b), is subject to additional guidance in Subtopic 954-220.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e18da18702d9518f42090a90dc10f4ecf5fbbf86d0f7878d7ec4b57b53b3391","downloaded_from":"2026-09-09T23:37:50.575Z","last_downloaded_at":"2026-09-09T23:37:50.575Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478847","source_sha256":"1345b6df71a3e9b7f628b0f2f7ed7d1432b054b729571400bb2c1f22283470bb"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:efb0107cedb757d18dd6cd989809ad89b46a0e220256266e9899a5335249f83f","downloaded_from":"2026-09-09T23:37:50.575Z","last_downloaded_at":"2026-09-09T23:37:50.575Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478847","source_sha256":"1345b6df71a3e9b7f628b0f2f7ed7d1432b054b729571400bb2c1f22283470bb"}},{"block":null,"heading":"Instruments","paragraphs":[{"citation":"320-958-15-2","para":"15-2","html":"
The measurement standards in Section 958-320-35 apply to all investments in debt securities, including mortgage-backed securities.
  1. a
    Subparagraph superseded by Accounting Standards Update No. 2016-01.
  2. b
    Subparagraph superseded by Accounting Standards Update No. 2016-01.
","snippet":"The measurement standards in Section 958-320-35 apply to all investments in debt securities, including mortgage-backed securities.\n(a) Subparagraph superseded by Accounting Standards Update No. 2016-01.\n(b) Subparagraph …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6fa9cf84102042ccb45e163ce5d40401f0a0a37dbfeb4908aa464e021232d7ed","downloaded_from":"2026-09-09T23:37:50.575Z","last_downloaded_at":"2026-09-09T23:37:50.575Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478847","source_sha256":"1345b6df71a3e9b7f628b0f2f7ed7d1432b054b729571400bb2c1f22283470bb"}},{"citation":"320-958-15-3","para":"15-3","html":"
The reporting standards in paragraphs
958-220-45-22 through 45-30
and Section 958-320-50 apply to all investments held by not-for-profit entities (NFPs), except those described in the following paragraph.
","snippet":"The reporting standards in paragraphs 958-220-45-22 through 45-30 and Section 958-320-50 apply to all investments held by not-for-profit entities (NFPs), except those described in the following paragraph.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2f614653c17be6511af7e23d146137ccaceb0f85de0ccc1c0a40b95aab71e5ce","downloaded_from":"2026-09-09T23:37:50.575Z","last_downloaded_at":"2026-09-09T23:37:50.575Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478847","source_sha256":"1345b6df71a3e9b7f628b0f2f7ed7d1432b054b729571400bb2c1f22283470bb"}},{"citation":"320-958-15-4","para":"15-4","html":"
The guidance in this Subtopic does not apply to any of the following:
  1. a
    An investment in equity securities that is accounted for under the equity method in accordance with paragraph 958-810-15-4 or in accordance with Subtopic 958-321.
  2. b
    An investment in a subsidiary that is consolidated in accordance with paragraph 958-810-15-4 or
    958-810-25-2 through 25-4
    .
  3. c
    An investment in a derivative instrument that is subject to the requirements of Topic 815. That is, an investment in an option on securities shall be accounted for under the requirements of Subtopic 815-10 if the option meets the definition of a derivative instrument, including the criteria for net settlement in paragraph 815-10-15-99.
  4. d
    Short sales of securities (sales of securities that the seller does not own at the time of sale), because they are obligations to deliver securities, not investments. Short sale obligations are addressed in the guidance for certain industries (see paragraph 940-320-35-1 with respect to broker-dealers and paragraph 942-405-35-1 with respect to depository institutions). For guidance on evaluating whether a short sale transaction involves a derivative instrument, see paragraph 815-10-55-57.
  5. e
    Investments held by a financially interrelated entity. See Subtopic 958-20 for reporting interests in the net assets of a financially interrelated entity.
","snippet":"The guidance in this Subtopic does not apply to any of the following:\n(a) An investment in equity securities that is accounted for under the equity method in accordance with paragraph 958-810-15-4 or in accordance with S…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:43904005fb6d1e643bceebd39d0263b132b7d144e9f9112e2570d4e18cce74e4","downloaded_from":"2026-09-09T23:37:50.575Z","last_downloaded_at":"2026-09-09T23:37:50.575Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478847","source_sha256":"1345b6df71a3e9b7f628b0f2f7ed7d1432b054b729571400bb2c1f22283470bb"}},{"citation":"320-958-15-5","para":"15-5","html":"
If an investment would otherwise be in the scope of this Subtopic and it has within it an embedded derivative that is subject to the requirements of Topic 815, the host contract (as described in paragraph 815-15-05-1) remains within the scope of this Subtopic.
","snippet":"If an investment would otherwise be in the scope of this Subtopic and it has within it an embedded derivative that is subject to the requirements of Topic 815, the host contract (as described in paragraph 815-15-05-1) re…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4d2942f6c78738d167aed9264b9dc6e7cc9d282d85280f27bfdc86335afedaf1","downloaded_from":"2026-09-09T23:37:50.575Z","last_downloaded_at":"2026-09-09T23:37:50.575Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478847","source_sha256":"1345b6df71a3e9b7f628b0f2f7ed7d1432b054b729571400bb2c1f22283470bb"}},{"citation":"320-958-15-6","para":"15-6","html":"
When determining whether an instrument is within the scope of this Subtopic, an entity shall not look through the form of its investment to the nature of the securities held by an investee. For example, an entity invests in a limited partnership interest (or a venture capital entity) that meets the definition of an equity security. However, substantially all of the partnership's assets consist of investments in debt securities. In the specific situation described, the investment would be considered an equity security.
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This Subtopic does not specify methods to be used for measuring the amount of interest income.
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For each period for which a statement of financial position is presented, an NFP shall disclose the aggregate carrying amount of investments by major types, for example, equity securities, U.S. Treasury securities, corporate debt securities, mortgage-backed securities, oil and gas properties, and real estate.
","snippet":"For each period for which a statement of financial position is presented, an NFP shall disclose the aggregate carrying amount of investments by major types, for example, equity securities, U.S. Treasury securities, corpo…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:36696b8adebbe7e6c9c1d64260492f2fd74fa4fc173c501eff167413dfa08ed8","downloaded_from":"2026-09-09T23:38:09.760Z","last_downloaded_at":"2026-09-09T23:38:09.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477748","source_sha256":"0437b5ccbb92dac1b7474e3bd32d7ede1e425f85d8d50213cb6737b0c5551a11"}},{"citation":"320-958-50-3","para":"50-3","html":"
For the most recent period for which a statement of financial position is presented, an NFP shall disclose the nature of and carrying amount for each individual investment or group of investments that represents a significant concentration of market risk, such as risks that result from the nature of the investments or from a lack of diversity of industry, currency, or geographic location.
","snippet":"For the most recent period for which a statement of financial position is presented, an NFP shall disclose the nature of and carrying amount for each individual investment or group of investments that represents a signif…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ebe9371aea62a8b010f620740f3911b3709b525c61cf1dca722dee346352595b","downloaded_from":"2026-09-09T23:38:09.760Z","last_downloaded_at":"2026-09-09T23:38:09.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477748","source_sha256":"0437b5ccbb92dac1b7474e3bd32d7ede1e425f85d8d50213cb6737b0c5551a11"}},{"citation":"320-958-50-4","para":"50-4","html":"
Paragraph 825-10-50-21 requires disclosures about all significant concentrations of credit risk arising from all financial instruments, (including significant concentrations of credit risk arising from derivative instruments accounted for under Topic 815), whether from an individual counterparty or groups of counterparties.
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Information about realized and unrealized gains and losses and about historical costs of investments may be useful in some circumstances. For example, if a state adopted a law that allows an NFP to spend only realized gains or if an NFP pays taxes on realized gains and losses, information that distinguishes between realized and unrealized amounts may be useful. Thus, this Subtopic does not preclude disclosing that information.
","snippet":"Information about realized and unrealized gains and losses and about historical costs of investments may be useful in some circumstances. For example, if a state adopted a law that allows an NFP to spend only realized ga…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:38894470a70b1447af669c020b9a7f8732269941e10e9e2353456274f751f730","downloaded_from":"2026-09-09T23:38:09.760Z","last_downloaded_at":"2026-09-09T23:38:09.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477748","source_sha256":"0437b5ccbb92dac1b7474e3bd32d7ede1e425f85d8d50213cb6737b0c5551a11"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:c251d8cac8b5d7e0d1c48d00d8c6fa4cbec0b9be085dc6fd9512b7a1eff9cb49","downloaded_from":"2026-09-09T23:38:09.760Z","last_downloaded_at":"2026-09-09T23:38:09.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477748","source_sha256":"0437b5ccbb92dac1b7474e3bd32d7ede1e425f85d8d50213cb6737b0c5551a11"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1e68f8d8150392a25f73ddab90763a09cb89fcfccebdf527514eb947504b8204","downloaded_from":"2026-09-09T23:38:09.760Z","last_downloaded_at":"2026-09-09T23:38:09.760Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477748","source_sha256":"0437b5ccbb92dac1b7474e3bd32d7ede1e425f85d8d50213cb6737b0c5551a11"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Implementation Guidance","paragraphs":[{"citation":"320-958-55-1","para":"55-1","html":"
The term debt security includes any security representing a creditor relationship with an entity. Thus, the term debt security includes all of the following securities, among other items:
  1. a
    U.S. Treasury securities
  2. b
    U.S. government agency securities
  3. c
    Municipal securities
  4. d
    Corporate bonds
  5. e
    Convertible debt
  6. f
    Commercial paper
  7. g
    All securitized debt instruments, such as collateralized mortgage obligations and real estate mortgage investment conduits
  8. h
    Interest-only and principal-only strips
  9. i
    Preferred stock that by its terms either must be redeemed by the issuing entity or is redeemable at the option of the investor
  10. j
    A collateralized mortgage obligation (or other instrument) that is issued in equity form but is required to be accounted for as a nonequity instrument regardless of how that instrument is classified (that is, whether equity or debt) in the issuer's statement of financial position.
","snippet":"The term debt security includes any security representing a creditor relationship with an entity. Thus, the term debt security includes all of the following securities, among other items:\n(a) U.S. Treasury securities\n(b)…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b1d03348beb5da357fbffd0cd707a51b8b6d54eb6ff103d62f3f447f04d9ca2b","downloaded_from":"2026-09-09T23:38:12.012Z","last_downloaded_at":"2026-09-09T23:38:12.012Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478467","source_sha256":"bcf8ad0405c90612b8f25fafd4cc8946ec8a9423018d69ec5d6945a4a53f8b2f"}},{"citation":"320-958-55-2","para":"55-2","html":"
However, the term debt security excludes all of the following instruments:
  1. a
    Option contracts
  2. b
    Financial futures contracts
  3. c
    Forward contracts
  4. d
    Lease contracts
  5. e
    Swap contracts
  6. f
    Receivables that do not meet the definition of security and, thus, are not debt securities, for example:
    1. 1
      Trade accounts receivable arising from sales on credit
    2. 2
      Loans receivable arising from consumer, commercial, and real estate lending activities of financial institutions and not-for-profit entities (NFPs).
    However, if those receivables have been securitized, they would meet the definition of a security, and thus be a debt security. Paragraph 320-10-55-3 explains that, even if a loan could readily be converted into a security, the loan is not a debt security until it has been securitized.
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Paragraph superseded by Accounting Standards Update No. 2016-01.
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This Example illustrates the disclosures required by paragraph 958-320-50-2 and a statement of activities that reports investment return in accordance with paragraphs
958-220-45-22 through 45-26
.
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Paragraph superseded by Accounting Standards Update No. 2016-14.
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This Example has the following assumptions:
  1. a
    Not-for-Profit Entity A (NFP A) invests cash in excess of daily requirements in short-term investments; during the year, those investments earned $1,275.
  2. b
    Most long-term investments of NFP A's endowments are held in an investment pool, which earned income of $11,270 and had net gains of $15,450.
  3. c
    Certain endowments are separately invested because of donors' requirements. The investments of those endowments earned income of $1,000 and increased in value by $1,500.
  4. d
    Subparagraph superseded by Accounting Standards Update No. 2016-14.
  5. e
    NFP A released from restrictions the full amount of net assets with donor restrictions that were appropriated from the donor-restricted endowment fund ($4,500) because the entity spent the funds for the required purpose.
  6. f
    NFP A's governing board appropriated for expenditure $1,025 from its short-term investments.
  7. g
    NFP A had $25 of gross programmatic investing income. The expenses related to the programmatic activity are included in operating expenses.
","snippet":"This Example has the following assumptions:\n(a) Not-for-Profit Entity A (NFP A) invests cash in excess of daily requirements in short-term investments; during the year, those investments earned $1,275.\n(b) Most long-term…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:582c78979a639d9a9a58153c4d84265d6cd10e26c96794e605e59de22be338f7","downloaded_from":"2026-09-09T23:38:12.012Z","last_downloaded_at":"2026-09-09T23:38:12.012Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478467","source_sha256":"bcf8ad0405c90612b8f25fafd4cc8946ec8a9423018d69ec5d6945a4a53f8b2f"}},{"citation":"320-958-55-7","para":"55-7","html":"
A statement of activities of NFP A is illustrated as follows.
","snippet":"A statement of activities of NFP A is illustrated as follows.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2e8a3950c8f19ce7fb64562309e72694c3d1b0146cb4f5e40cd47748012b5d4e","downloaded_from":"2026-09-09T23:38:12.012Z","last_downloaded_at":"2026-09-09T23:38:12.012Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478467","source_sha256":"bcf8ad0405c90612b8f25fafd4cc8946ec8a9423018d69ec5d6945a4a53f8b2f"}},{"citation":"320-958-55-8","para":"55-8","html":"
NFP A would add the following illustrative text to its note to financial statements that describes the measure of operations.
","snippet":"NFP A would add the following illustrative text to its note to financial statements that describes the measure of operations.\nThe board of trustees designates only a portion of NFP A's cumulative investment return for su…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:36682503ddfa4363831953d820c71450883fd2acf4a92809fd3943d8d58bd288","downloaded_from":"2026-09-09T23:38:12.012Z","last_downloaded_at":"2026-09-09T23:38:12.012Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478467","source_sha256":"bcf8ad0405c90612b8f25fafd4cc8946ec8a9423018d69ec5d6945a4a53f8b2f"}},{"citation":"320-958-55-9","para":"55-9","html":"
Paragraph superseded by Accounting Standards Update No. 2016-14.
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In accordance with the requirements in paragraph 958-320-50-2, an NFP would disclose the aggregate carrying amount of investments by major types and may choose to combine these disclosure requirements with disclosures about the level in the fair value hierarchy as required in Topic 820 on fair value measurement.
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For guidance on recognition by an NFP of the gain or loss on a hedging instrument or a nonhedging derivative instrument, see paragraphs 815-25-35-19 and 815-10-35-3, respectively.
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The core rule is simple and different from the business-entity model: all debt securities held by an NFP are carried at fair value in the statement of financial position, with no held-to-maturity, trading, or available-for-sale classification. Purchased securities are initially measured at acquisition cost (excluding brokerage and other transaction fees); contributed securities and those received in agency transactions are initially measured at fair value.","key_points":["All investments in debt securities held by an NFP, including mortgage-backed securities, shall be measured at fair value in the statement of financial position (320-958-35-1; 320-958-15-2).","Initial measurement is acquisition cost excluding brokerage and other transaction fees if purchased, and fair value if received as a contribution or through an agency transaction (320-958-30-1).","A debt security acquired by contribution is recognized as an asset and as revenue or gain in the period received (320-958-25-1, citing 958-605-25-2).","If the NFP holds the investment as an agent with little or no discretion over how income and gains and losses will be used, the acquisition and subsequent activity are reported as agency transactions—changes in assets and liabilities, not changes in net assets (320-958-25-3; 320-958-35-3).","Scope excludes equity-method investments and consolidated subsidiaries (958-810-15-4), derivatives under Topic 815, short sales, and investments held by a financially interrelated entity (Subtopic 958-20) (320-958-15-4); an embedded derivative does not remove the host contract from scope (320-958-15-5).","An entity does not look through the legal form of its investment to the investee's underlying securities—a limited partnership interest meeting the definition of an equity security stays an equity security even if the partnership holds mostly debt securities (320-958-15-6).","Disclosures: aggregate carrying amount of investments by major type for each statement of financial position presented (320-958-50-2), and the nature and carrying amount of each investment or group representing a significant concentration of market risk for the most recent period (320-958-50-3)."],"categories":["Financial instruments","Not-for-profit","Subsequent measurement","Disclosure"],"audience_level":"intermediate","student_note":"Exam trap: students carry over the 320-10 three-bucket model (trading/AFS/HTM) to NFPs—there is none; every debt security an NFP holds is at fair value, with return reported in the statement of activities per 958-220-45-22 through 45-30. The second common miss is the no-look-through rule in 320-958-15-6, which classifies a partnership interest by its own form, not by the investee's underlying assets.","related_topics":["958-321","958-325","958-220","958-605","320-10","820"],"key_concepts":["debt security","fair value measurement","not-for-profit investments","agency transaction","contributed securities","concentration of market risk","major types of investments","scope exceptions"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:eb841c7e31aa0085bfb81b8d59454a1dfb6946392adeaa1d3f4feaf44cc1d1bb","downloaded_from":"2026-09-09T23:37:46.933Z","last_downloaded_at":"2026-09-09T23:38:15.825Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"325-958","title":"Not-for-Profit 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