{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/360/958/#45-other-presentation-matters","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":"360","topic_title":"Property, Plant, and Equipment","subtopic":"360-958","subtopic_title":"Not-for-Profit Entities","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":"Reclassification upon Expiration of Donor-Imposed Restrictions","paragraphs":[{"citation":"360-958-45-1","para":"45-1","html":"
If the property, plant, and equipment item being depreciated was contributed to the not-for-profit entity (NFP) with an explicit donor-imposed restriction on the length of time of the item's use, net assets with donor restrictions shall be reclassified as net assets without donor restrictions in a statement of activities as those restrictions expire. (For how to report a reclassification of net assets, see paragraph 958-220-45-3.) The amount reclassified may or may not be equal to the amount of the related depreciation. The amount to be reclassified shall be based on the length of time indicated by the donor-imposed restrictions, if restrictions exist, while the amount of depreciation shall be based on the useful economic life of the asset. For example, a computer with an estimated useful economic life of five years may be contributed by a donor and restricted for a specific use by the NFP for three years. Absent donor stipulations specifying how long such donated assets or assets constructed or acquired with cash restricted for such acquisition or construction must be used, restrictions on long-lived assets, if any, expire when the assets are placed in service as required by paragraph 958-205-45-12.
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The following contributions shall be reclassified from net assets with donor restrictions to net assets without donor restrictions when the acquired or constructed property, plant, or equipment is placed in service:
  1. a
    Purpose-restricted contributions of property, plant, or equipment that are without donor-imposed stipulations specifying how long the donated asset must be used
  2. b
    Contributions of cash restricted for the acquisition or construction of property, plant, or equipment.
The entire amount of the contribution of property, plant, or equipment or cash shall be reclassified at the time the asset is placed in service. There may be circumstances in which a donor restriction might extend beyond the point at which the property, plant, or equipment is placed in service. For example, a donor might specify that a donation restricted for the acquisition of property, plant, or equipment must continue to be used for a specified period of time. In such circumstances, the restriction would expire over the period of time that the asset is to be used.
","snippet":"The following contributions shall be reclassified from net assets with donor restrictions to net assets without donor restrictions when the acquired or constructed property, plant, or equipment is placed in service:\n(a) …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8c8808c06432c1831164b38bb02eb1aba8238a68865bdc81e54ea0adcce8b8c9","downloaded_from":"2026-09-10T00:10:58.630Z","last_downloaded_at":"2026-09-10T00:10:58.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479001","source_sha256":"85733701ad8a643c9d3221fdb484bc7cefca41d59e2131c7b07636bbd33378b1"}},{"citation":"360-958-45-2","para":"45-2","html":"
Paragraph superseded by Accounting Standards Update No. 2016-14.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2016-14.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d36ad4a2e3c46d13f9304927606ca7a852d8360afc9d7193661f59c5571070ad","downloaded_from":"2026-09-10T00:10:58.630Z","last_downloaded_at":"2026-09-10T00:10:58.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479001","source_sha256":"85733701ad8a643c9d3221fdb484bc7cefca41d59e2131c7b07636bbd33378b1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:033c6fda237227a88d989e10634a4c66c6be8b6cce3b40da32c4c36d213b9322","downloaded_from":"2026-09-10T00:10:58.630Z","last_downloaded_at":"2026-09-10T00:10:58.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479001","source_sha256":"85733701ad8a643c9d3221fdb484bc7cefca41d59e2131c7b07636bbd33378b1"}},{"block":null,"heading":"Works of Art, Historical Treasures, and Similar Assets","paragraphs":[{"citation":"360-958-45-3","para":"45-3","html":"
If an NFP does not recognize and capitalize its collections or capitalizes its collections prospectively, a line item shall be shown on the face of the statement of financial position that refers to the disclosures about collections required by paragraph 958-360-50-6. That line item shall be dated if collections are capitalized prospectively, for example, collections acquired since January 1, 20X1 (Note X). If an NFP adopts a policy of capitalizing collections, a statement of financial position shall include the total amount capitalized on a separate line item, entitled collections or collection items.
","snippet":"If an NFP does not recognize and capitalize its collections or capitalizes its collections prospectively, a line item shall be shown on the face of the statement of financial position that refers to the disclosures about…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b4b43941e2125bc18dbb997968199f7a32555d25f0ea713a867bcf8a3486650e","downloaded_from":"2026-09-10T00:10:58.630Z","last_downloaded_at":"2026-09-10T00:10:58.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479001","source_sha256":"85733701ad8a643c9d3221fdb484bc7cefca41d59e2131c7b07636bbd33378b1"}},{"citation":"360-958-45-4","para":"45-4","html":"
The amount capitalized for works of art, historical treasures, and similar assets that do not meet the definition of a collection shall be disclosed separately on the face of the statement of financial position or in the notes.
","snippet":"The amount capitalized for works of art, historical treasures, and similar assets that do not meet the definition of a collection shall be disclosed separately on the face of the statement of financial position or in the…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:800c5c6f2e03dcfb76cac1a9ab63b520186015e173fc9abafb7755fd9932e95e","downloaded_from":"2026-09-10T00:10:58.630Z","last_downloaded_at":"2026-09-10T00:10:58.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479001","source_sha256":"85733701ad8a643c9d3221fdb484bc7cefca41d59e2131c7b07636bbd33378b1"}},{"citation":"360-958-45-5","para":"45-5","html":"
An NFP that does not recognize and capitalize its collections shall report all of the following on the face of its statement of activities, separately from revenues, expenses, gains, and losses:
  1. a
    Costs of collection items purchased as a decrease in the appropriate class of net assets
  2. b
    Proceeds from sale of collection items as an increase in the appropriate class of net assets
  3. c
    Proceeds from insurance recoveries of lost or destroyed collection items as an increase in the appropriate class of net assets.
Similarly, an entity that capitalizes its collections prospectively shall report proceeds from sales and insurance recoveries of items not previously capitalized separately from revenues, expenses, gains, and losses.
","snippet":"An NFP that does not recognize and capitalize its collections shall report all of the following on the face of its statement of activities, separately from revenues, expenses, gains, and losses:\n(a) Costs of collection i…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8e4bd85438f8f656be7be8a120f09e09330d4387a3ce817a1c1464b2ffcdfc02","downloaded_from":"2026-09-10T00:10:58.630Z","last_downloaded_at":"2026-09-10T00:10:58.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479001","source_sha256":"85733701ad8a643c9d3221fdb484bc7cefca41d59e2131c7b07636bbd33378b1"}},{"citation":"360-958-45-6","para":"45-6","html":"
Example 1 (see paragraph 958-360-55-2) illustrates a statement of activities that satisfies the requirements in paragraph 958-360-45-5.
","snippet":"Example 1 (see paragraph 958-360-55-2) illustrates a statement of activities that satisfies the requirements in paragraph 958-360-45-5.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cbbb0ea0ae8251e3c2d968b8504d7ce1c60f557364290a2bbd388e9dcb64234d","downloaded_from":"2026-09-10T00:10:58.630Z","last_downloaded_at":"2026-09-10T00:10:58.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479001","source_sha256":"85733701ad8a643c9d3221fdb484bc7cefca41d59e2131c7b07636bbd33378b1"}},{"citation":"360-958-45-7","para":"45-7","html":"
Purpose-restricted contributions of works of art, historical treasures, and similar assets and contributions of cash restricted for the acquisition or construction of such assets are reclassified when the restrictions are met in accordance with paragraph 958-360-45-1.
","snippet":"Purpose-restricted contributions of works of art, historical treasures, and similar assets and contributions of cash restricted for the acquisition or construction of such assets are reclassified when the restrictions ar…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0048bb48054d592f6a7860ffd7c86d3c37a0b5dc9efe61001ecaeafd3c218320","downloaded_from":"2026-09-10T00:10:58.630Z","last_downloaded_at":"2026-09-10T00:10:58.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479001","source_sha256":"85733701ad8a643c9d3221fdb484bc7cefca41d59e2131c7b07636bbd33378b1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a91dd70bd058a407eef1b76a52b6facb89be4e729d15268f78d555f30d70ac59","downloaded_from":"2026-09-10T00:10:58.630Z","last_downloaded_at":"2026-09-10T00:10:58.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479001","source_sha256":"85733701ad8a643c9d3221fdb484bc7cefca41d59e2131c7b07636bbd33378b1"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b41609a02211aa3d3a0bf5c30df86fa90cbb47129a240943dbade8af98d151e","downloaded_from":"2026-09-10T00:10:58.630Z","last_downloaded_at":"2026-09-10T00:10:58.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479001","source_sha256":"85733701ad8a643c9d3221fdb484bc7cefca41d59e2131c7b07636bbd33378b1"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3b41609a02211aa3d3a0bf5c30df86fa90cbb47129a240943dbade8af98d151e","downloaded_from":"2026-09-10T00:10:58.630Z","last_downloaded_at":"2026-09-10T00:10:58.630Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479001","source_sha256":"85733701ad8a643c9d3221fdb484bc7cefca41d59e2131c7b07636bbd33378b1"}}