The financial statements of a
not-for-profit entity (NFP) shall disclose the following information:
- a
Total fundraising expenses.
- b
Total program expenses and information about why total program expenses disclosed in the notes do not articulate with the statement of activities. Pursuant to paragraph 958-720-45-5, this disclosure is only required if the components of total program expenses are not evident from the details provided on the face of the statement of activities (for example, if cost of sales is not identified as either program or supporting services). - bb
The relationship between functional classification and natural classification for all expenses in an analysis that disaggregates functional expense classifications by their natural expense classifications in accordance with paragraph 958-720-45-15. - c
The amount of income tax expense and the nature of the activities that generated the taxes, which is only required if the NFP incurs income tax expense.
- d
A description of the methods used to allocate costs among program and support functions. See paragraph 958-720-55-176 or Note F in paragraph 958-205-55-21 for examples of note disclosures on the cost allocation methods used.