# ASC 958-10-15: Not-for-Profit Entities — Overall — 15 Scope and Scope Exceptions Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/958/10/#15-scope-and-scope-exceptions) 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): 2026-09-10T02:21:13.926Z to 2026-09-10T02:21:13.926Z Record version: sha256:765cc8f0cde761e0ad41f6ce1013bdafcc81930bfd898f2f517a0a60ef80b203 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 958-10-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/958/10/#15-scope-and-scope-exceptions) SEC content: no #### Overall Guidance ##### [958-10-15-1](https://asc.understandingaccounting.org/asc/958/10/#958-10-15-1) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:13.926Z to 2026-09-10T02:21:13.926Z Record version: sha256:444fd04ad37628cbdb76ce98d888c342a6d919605ac8124254c7fe45c0efbedb Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The Subtopics within the Not-for-Profit Entities Topic only provide incremental industry-specific guidance for the entities defined in this Scope Section, or as further defined in the Scope Sections of the individual Not-for-Profit Entities Subtopics. Entities within the scope of this Topic shall also comply with the applicable guidance not included in this Topic. Certain Subtopics within Subtopic 958-605 on revenue recognition also apply to business entities. Those Subtopics will be specifically identified in their Scope Sections. #### Entities ##### [958-10-15-2](https://asc.understandingaccounting.org/asc/958/10/#958-10-15-2) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:13.926Z to 2026-09-10T02:21:13.926Z Record version: sha256:3884b1a09319cbbdde73e6f1a3627af02bcf535fcb2e08210b144561eacb787a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The guidance in this Topic applies to all [not-for-profit entities](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.") (NFPs). ##### [958-10-15-3](https://asc.understandingaccounting.org/asc/958/10/#958-10-15-3) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:13.926Z to 2026-09-10T02:21:13.926Z Record version: sha256:8e6de2fb9223228ef6605618e368377d0cdfa8e31101363138dbd4bd9eb21d28 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The guidance in this Topic applies to the following nongovernmental NFPs: 1. a Cemetery organizations 2. b Civic and community organizations 3. c Colleges and universities 4. d Elementary and secondary schools 5. e Federated fundraising organizations 6. f Fraternal organizations 7. g Health care entities (see also Topic 954) 8. h Labor unions 9. i Libraries 10. j Museums 11. k Other cultural organizations 12. l Performing arts organizations 13. m Political parties 14. n Political action committees 15. o Private and community foundations 16. p Professional associations 17. q Public broadcasting stations 18. r Religious organizations 19. s Research and scientific organizations 20. t Social and country clubs 21. u Trade associations 22. v Voluntary health and welfare entities 23. w Zoological and botanical societies. Additionally, the guidance in this Topic applies to all entities that meet the definition of an NFP, regardless of whether they are included in this list. ##### [958-10-15-4](https://asc.understandingaccounting.org/asc/958/10/#958-10-15-4) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:13.926Z to 2026-09-10T02:21:13.926Z Record version: sha256:73519bdad9e8b91ba25d387447a73cd6d7f2f3439907f9e5f95e6fab4632401f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. NFPs have the characteristics in criteria (a), (b), and (c) of the definition of [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.") in varying degrees. An entity could meet the definition of an NFP without meeting criterion (a), (b), or (c). For example, although trade associations, country clubs, unions, and other similar entities often meet criterion (b) in the definition of an NFP (that is, they have operating purposes other than to provide goods or services at a profit) but may not meet the other criteria, those entities are within the scope of this Topic. ##### [958-10-15-5](https://asc.understandingaccounting.org/asc/958/10/#958-10-15-5) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:13.926Z to 2026-09-10T02:21:13.926Z Record version: sha256:44d8d1ac85e5e2664d2cb0aa889b2b7c03e8a430ab67ee8556718b86e993e9d4 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Entities that clearly fall outside this definition include the following: 1. a All investor-owned entities 2. b 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. ##### [958-10-15-6](https://asc.understandingaccounting.org/asc/958/10/#958-10-15-6) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:13.926Z to 2026-09-10T02:21:13.926Z Record version: sha256:f0a0e71967c9af5e0fbee6d641babf7696a22cc76bf6345f4b956439d080fcec Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The Internal Revenue Service determines whether an entity qualifies for exemption from federal income tax. For example, an entity may meet the definition of an NFP, but may nevertheless not be tax-exempt under the Internal Revenue Code because it has violated the rules applicable to tax-exempt organizations.