# ASC 360-958-45: Property, Plant, and Equipment — Not-for-Profit Entities — 45 Other Presentation Matters Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/360/958/#45-other-presentation-matters) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-10T00:10:58.630Z to 2026-09-10T00:10:58.630Z Record version: sha256:3b41609a02211aa3d3a0bf5c30df86fa90cbb47129a240943dbade8af98d151e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 360-958-45: 45 Other Presentation Matters [Read section](https://asc.understandingaccounting.org/asc/360/958/#45-other-presentation-matters) SEC content: no #### Reclassification upon Expiration of Donor-Imposed Restrictions ##### [360-958-45-1](https://asc.understandingaccounting.org/asc/360/958/#360-958-45-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:10:58.630Z to 2026-09-10T00:10:58.630Z Record version: sha256:2d7c96ffa590ac940aa606505a1bdf8458808005b4bcfed148a38f586c538e3e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. If the property, plant, and equipment item being depreciated was contributed to the [not-for-profit entity](https://asc.understandingaccounting.org/glossary/n/#not-for-profit-entity "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.") (NFP) with an explicit [donor-imposed restriction](https://asc.understandingaccounting.org/glossary/d/#donor-imposed-restriction "A donor stipulation (donors include other types of contributors, including makers of certain grants) that specifies a use for a contributed asset that is more specific than broad limits resulting from the following: The nature of the not-for-profit entity (NFP) The environment in which it operates The purposes specified in its articles of incorporation or bylaws or comparable documents for an unincorporated association. Some donors impose restrictions that are temporary in nature, for example, stipulating that resources be used after a specified date, for particular programs or services, or to acquire buildings or equipment. Other donors impose restrictions that are perpetual in nature, for example, stipulating that resources be maintained in perpetuity. Laws may extend those limits to investment returns from those resources and to other enhancements (diminishments) of those resources. Thus, those laws extend donor-imposed restrictions.") on the length of time of the item's use, [net assets with donor restrictions](https://asc.understandingaccounting.org/glossary/n/#net-assets-with-donor-restrictions "The part of net assets of a not-for-profit entity that is subject to donor-imposed restrictions (donors include other types of contributors, including makers of certain grants).") shall be reclassified as [net assets without donor restrictions](https://asc.understandingaccounting.org/glossary/n/#net-assets-without-donor-restrictions "The part of net assets of a not-for-profit entity that is not subject to donor-imposed restrictions (donors include other types of contributors, including makers of certain grants).") in a statement of activities as those restrictions expire. (For how to report a [reclassification of net assets](https://asc.understandingaccounting.org/glossary/r/#reclassification-of-net-assets "Simultaneous increase of one class of net assets and decrease of another. A reclassification of net assets usually results from a donor-imposed restriction (donors include other types of contributors, including makers of certain grants) being satisfied or otherwise lapsing."), see paragraph [958-220-45-3](https://asc.understandingaccounting.org/asc/220/958/#220-958-45-3).) 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](https://asc.understandingaccounting.org/asc/205/958/#205-958-45-12). ##### [360-958-45-1A](https://asc.understandingaccounting.org/asc/360/958/#360-958-45-1A) Pending content: no Source downloaded (UTC): 2026-09-10T00:10:58.630Z to 2026-09-10T00:10:58.630Z Record version: sha256:8c8808c06432c1831164b38bb02eb1aba8238a68865bdc81e54ea0adcce8b8c9 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following [contributions](https://asc.understandingaccounting.org/glossary/c/#contribution "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.") 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. ##### [360-958-45-2](https://asc.understandingaccounting.org/asc/360/958/#360-958-45-2) Pending content: no Source downloaded (UTC): 2026-09-10T00:10:58.630Z to 2026-09-10T00:10:58.630Z Record version: sha256:d36ad4a2e3c46d13f9304927606ca7a852d8360afc9d7193661f59c5571070ad Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2016-14](https://asc.understandingaccounting.org/updates/asu-2016-14/). #### Works of Art, Historical Treasures, and Similar Assets ##### [360-958-45-3](https://asc.understandingaccounting.org/asc/360/958/#360-958-45-3) Pending content: no Source downloaded (UTC): 2026-09-10T00:10:58.630Z to 2026-09-10T00:10:58.630Z Record version: sha256:b4b43941e2125bc18dbb997968199f7a32555d25f0ea713a867bcf8a3486650e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. If an NFP does not recognize and capitalize its [collections](https://asc.understandingaccounting.org/glossary/c/#collections "Works of art, historical treasures, or similar assets that meet all of the following criteria: They are held for public exhibition, education, or research in furtherance of public service rather than financial gain. They are protected, kept unencumbered, cared for, and preserved. They are subject to an organizational policy that requires the use of proceeds from items that are sold to be for the acquisitions of new collection items, the direct care of existing collections, or both. Collections generally are held by museums; botanical gardens; libraries; aquariums; arboretums; historic sites; planetariums; zoos; art galleries; nature, science, and technology centers; and similar educational, research, and public service organizations that have those divisions; however, the definition is not limited to those entities nor does it apply to all items held by those entities.") 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](https://asc.understandingaccounting.org/asc/360/958/#360-958-50-6). 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. ##### [360-958-45-4](https://asc.understandingaccounting.org/asc/360/958/#360-958-45-4) Pending content: no Source downloaded (UTC): 2026-09-10T00:10:58.630Z to 2026-09-10T00:10:58.630Z Record version: sha256:800c5c6f2e03dcfb76cac1a9ab63b520186015e173fc9abafb7755fd9932e95e Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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. ##### [360-958-45-5](https://asc.understandingaccounting.org/asc/360/958/#360-958-45-5) Pending content: no Source downloaded (UTC): 2026-09-10T00:10:58.630Z to 2026-09-10T00:10:58.630Z Record version: sha256:8e4bd85438f8f656be7be8a120f09e09330d4387a3ce817a1c1464b2ffcdfc02 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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. ##### [360-958-45-6](https://asc.understandingaccounting.org/asc/360/958/#360-958-45-6) Pending content: no Source downloaded (UTC): 2026-09-10T00:10:58.630Z to 2026-09-10T00:10:58.630Z Record version: sha256:cbbb0ea0ae8251e3c2d968b8504d7ce1c60f557364290a2bbd388e9dcb64234d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Example 1 (see paragraph [958-360-55-2](https://asc.understandingaccounting.org/asc/360/958/#360-958-55-2)) illustrates a statement of activities that satisfies the requirements in paragraph [958-360-45-5](https://asc.understandingaccounting.org/asc/360/958/#360-958-45-5). ##### [360-958-45-7](https://asc.understandingaccounting.org/asc/360/958/#360-958-45-7) Pending content: no Source downloaded (UTC): 2026-09-10T00:10:58.630Z to 2026-09-10T00:10:58.630Z Record version: sha256:0048bb48054d592f6a7860ffd7c86d3c37a0b5dc9efe61001ecaeafd3c218320 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Purpose-restricted [contributions](https://asc.understandingaccounting.org/glossary/c/#contribution "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.") 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](https://asc.understandingaccounting.org/asc/360/958/#360-958-45-1).