{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/450/958/#50-disclosure","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":"450","topic_title":"Contingencies","subtopic":"450-958","subtopic_title":"Not-for-Profit Entities","section":{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"450-958-50-1","para":"50-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_37AF140A-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">In conformity with Section <a altsource=\"GUID-C6FA6504-8DCA-4A60-B7C3-C902B444EF8E.ditamap\" class=\"ditamap\">450-20-50</a>, the notes to financial statements may have to include information about <a href=\"/glossary/l/#loss-contingency\" class=\"term\" title=\"An existing condition, situation, or set of circumstances involving uncertainty as to possible loss to an entity that will ultimately be resolved when one or more future events occur or fail to occur. The term loss is used for convenience to include many charges against income that are commonly referred to as expenses and others that are commonly referred to as losses.\"><span>loss contingencies</span></a>. </span></span></div></div>","snippet":"In conformity with Section 450-20-50, the notes to financial statements may have to include information about loss contingencies.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a31007a05910d0bd4f2aa3ed8bab191660cc2e344168babadf94ee1764903149","downloaded_from":"2026-09-10T00:29:12.159Z","last_downloaded_at":"2026-09-10T00:29:12.159Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478757","source_sha256":"e8d4d6ac32fa26a7833884a1337ed69448aa2a6d16e441102b69813403e53aca"}},{"citation":"450-958-50-2","para":"50-2","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_37AF15AB-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">For example, noncompliance with <a href=\"/glossary/d/#donor-imposed-restriction\" class=\"term\" title=\"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.\"><span>donor-imposed restrictions</span></a> shall be disclosed if either of the following is true: </span></span><ol class=\"ol-norm\"><li class=\"li-norm\"><span class=\"linum\">a</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_37AF1727-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">There is a reasonable possibility that a material contingent liability has been incurred at the date of the financial statements. </span></span></div></li><li class=\"li-norm\"><span class=\"linum\">b</span><div class=\"p\"><span class=\"sfragment\" id=\"sfr_37AF186E-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">There is at least a reasonable possibility that the noncompliance could lead to a material loss of revenue or could cause an entity to be unable to continue as a going concern. </span></span></div></li></ol></div></div>","snippet":"For example, noncompliance with donor-imposed restrictions shall be disclosed if either of the following is true:\n(a) There is a reasonable possibility that a material contingent liability has been incurred at the date o…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cc795468870de421cb5aaca00761ccf65a6adee170c29198c2ee0f4f82b97ded","downloaded_from":"2026-09-10T00:29:12.159Z","last_downloaded_at":"2026-09-10T00:29:12.159Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478757","source_sha256":"e8d4d6ac32fa26a7833884a1337ed69448aa2a6d16e441102b69813403e53aca"}},{"citation":"450-958-50-3","para":"50-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"><span class=\"sfragment\" id=\"sfr_37AF19C5-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">If the noncompliance results from a <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 entity's</span></a> (NFP's) failure to maintain an appropriate composition of assets in amounts needed to comply with all donor restrictions, the amounts and circumstances shall be disclosed. </span></span></div></div>","snippet":"If the noncompliance results from a not-for-profit entity's (NFP's) failure to maintain an appropriate composition of assets in amounts needed to comply with all donor restrictions, the amounts and circumstances shall be…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:2fd580a359cfeacd7b0cdeaaf0b6936d4ef5739c0c5f41a762450654a685ed07","downloaded_from":"2026-09-10T00:29:12.159Z","last_downloaded_at":"2026-09-10T00:29:12.159Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478757","source_sha256":"e8d4d6ac32fa26a7833884a1337ed69448aa2a6d16e441102b69813403e53aca"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:40db3a4e7aa16b891f539d69b12146a4f7c4881bb55dfbf665f8ccfc5cc06aa8","downloaded_from":"2026-09-10T00:29:12.159Z","last_downloaded_at":"2026-09-10T00:29:12.159Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478757","source_sha256":"e8d4d6ac32fa26a7833884a1337ed69448aa2a6d16e441102b69813403e53aca"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad721dfcba2589d96fc0406255cc0feebfc4c87e28e20fcb13f91203aa9fa333","downloaded_from":"2026-09-10T00:29:12.159Z","last_downloaded_at":"2026-09-10T00:29:12.159Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478757","source_sha256":"e8d4d6ac32fa26a7833884a1337ed69448aa2a6d16e441102b69813403e53aca"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ad721dfcba2589d96fc0406255cc0feebfc4c87e28e20fcb13f91203aa9fa333","downloaded_from":"2026-09-10T00:29:12.159Z","last_downloaded_at":"2026-09-10T00:29:12.159Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478757","source_sha256":"e8d4d6ac32fa26a7833884a1337ed69448aa2a6d16e441102b69813403e53aca"}}