{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/405/958/#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":"405","topic_title":"Liabilities","subtopic":"405-958","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":"405-958-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic provides guidance about <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> made by <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). NFPs also shall comply with the applicable standards in Subtopic <a altsource=\"GUID-EF0C92CE-0625-4026-BBDB-0B09EFA4F8A8.ditamap\" class=\"ditamap\">720-25</a>. This Subtopic also identifies the Sections within the Not-For-Profit Entities Topic that provide guidance on accounting for liabilities.</div></div>","snippet":"This Subtopic provides guidance about promises to give made by not-for-profit entities (NFPs). NFPs also shall comply with the applicable standards in Subtopic 720-25. This Subtopic also identifies the Sections within th…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8d82597d2362831085c33fe73459630ef5c496ad65e1028b02913f8cfed77ef6","downloaded_from":"2026-09-10T00:19:44.991Z","last_downloaded_at":"2026-09-10T00:19:44.991Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478364","source_sha256":"21f0873332dd06b37d0d630f0d5d2f6afde11f477307ff7f63d7c31592c72219"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b0dd0542834d0eed0040f2373a4775041721ee8614e4b73942b8e500234680f4","downloaded_from":"2026-09-10T00:19:44.991Z","last_downloaded_at":"2026-09-10T00:19:44.991Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478364","source_sha256":"21f0873332dd06b37d0d630f0d5d2f6afde11f477307ff7f63d7c31592c72219"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1e850599978c20a9220337a2637737dc296b48d43d171a0eec61dada3e9c1684","downloaded_from":"2026-09-10T00:19:44.991Z","last_downloaded_at":"2026-09-10T00:19:44.991Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478364","source_sha256":"21f0873332dd06b37d0d630f0d5d2f6afde11f477307ff7f63d7c31592c72219"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1e850599978c20a9220337a2637737dc296b48d43d171a0eec61dada3e9c1684","downloaded_from":"2026-09-10T00:19:44.991Z","last_downloaded_at":"2026-09-10T00:19:44.991Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478364","source_sha256":"21f0873332dd06b37d0d630f0d5d2f6afde11f477307ff7f63d7c31592c72219"}}