# ASC 958-10: Not-for-Profit Entities — Overall Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/958/10/) 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): 2026-09-10T02:21:08.558Z to 2026-09-10T02:21:26.859Z Record version: sha256:1a3425f46008c578ea5b7a5cad3cddd6c0893e1df7bce419eef86cce5f49d975 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 958-10: Not-for-Profit Entities — Overall ### Machine-generated study aids ```json { "summary": "ASC 958-10 sets the scope of the Not-for-Profit Entities Topic and its relationship to the rest of the Codification. It applies to nongovernmental entities meeting the definition of an NFP and provides only incremental industry-specific guidance—NFPs must otherwise follow all other Topics unless a Scope Section exempts them or the subject matter is inapplicable (e.g., payment of dividends). It also lists the Subtopics comprising Topic 958 and directs NFPs to apply other guidance in an analogous manner suited to their reporting model.", "key_points": [ "Topic 958 provides only incremental industry-specific guidance; entities in scope must also comply with applicable guidance not included in the Topic (958-10-15-1), and other Topics apply to NFPs unless their Scope Sections exempt NFPs or the subject matter precludes applicability, such as payment of dividends (958-10-05-1).", "The Topic applies to all nongovernmental NFPs, including a nonexclusive list of organization types from cemetery organizations through zoological and botanical societies, plus any other entity meeting the NFP definition (958-10-15-2 through 15-3).", "An entity can meet the NFP definition without satisfying every criterion (a), (b), or (c); for example, trade associations, country clubs, and unions that meet only criterion (b) are within scope (958-10-15-4).", "Clearly outside the definition are all investor-owned entities and entities that provide dividends, lower costs, or other economic benefits directly and proportionately to owners, members, or participants—such as mutual insurance entities, credit unions, farm and rural electric cooperatives, and employee benefit plans (958-10-15-5).", "Tax-exempt status is determined by the IRS and is distinct from NFP status; an entity may meet the definition of an NFP yet not be tax-exempt under the Internal Revenue Code (958-10-15-6).", "When applying other Topics, NFPs follow that guidance in an analogous manner appropriate to their reporting model, considering the reporting objectives when judging how to display elements, such as in which net asset class (958-10-45-1).", "Certain Subtopics within 958-605 on revenue recognition also apply to business entities as identified in their Scope Sections (958-10-15-1), and not-for-profit, business-oriented health care entities also apply Topic 954 (958-10-60-1)." ], "categories": [ "Not-for-profit", "Industry-specific", "Financial statement presentation" ], "audience_level": "introductory", "student_note": "Scope is the trap here: students often assume NFPs have a self-contained rulebook, when Topic 958 is only incremental—an NFP still applies ASC 606, 842, 820, and others unless specifically exempted. Also remember that GAAP's NFP definition is independent of IRS tax exemption, and member-benefit entities like credit unions and cooperatives fall outside it.", "related_topics": [ "954", "958-205", "958-605", "958-810", "958-30", "958-20" ], "key_concepts": [ "not-for-profit entity definition", "nongovernmental entity", "incremental industry-specific guidance", "scope exemption", "net asset class", "reporting model", "investor-owned entity" ] } ``` Source downloaded (UTC): 2026-09-10T02:21:08.558Z to 2026-09-10T02:21:08.558Z Record version: sha256:3536e74799dc06f904632aa73b0bf39d3e216f6e7da7e65b73eebd0bb000bbc3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 958-10-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/958/10/#00-status) SEC content: no ##### [958-10-00-1](https://asc.understandingaccounting.org/asc/958/10/#958-10-00-1) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:08.558Z to 2026-09-10T02:21:08.558Z Record version: sha256:5e935016bbb89d2575b47a2316d23e078ad2d1946c72e594960ec9b3be3b4dda Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
Nongovernmental EntityAddedAccounting Standards Update No. 2012-0410/01/2012
Public Business EntityAddedAccounting Standards Update No. 2018-0806/21/2018
958-10-05-1AmendedAccounting Standards Update No. 2015-1006/12/2015
958-10-05-1AmendedAccounting Standards Update No. 2012-0410/01/2012
958-10-05-2AmendedMaintenance Update 2021-02 (PDF)01/19/2021
958-10-05-2AmendedAccounting Standards Update No. 2016-0101/05/2016
958-10-05-2AmendedAccounting Standards Update No. 2014-0905/28/2014
958-10-05-2AmendedAccounting Standards Update No. 2010-0701/28/2010
958-10-15-1AmendedAccounting Standards Update No. 2018-0806/21/2018
958-10-65-1AddedAccounting Standards Update No. 2016-1408/18/2016
958-10-65-2AddedAccounting Standards Update No. 2018-0806/21/2018
958-10-65-3AddedAccounting Standards Update No. 2019-0303/21/2019
958-10-65-4AddedAccounting Standards Update No. 2020-0709/17/2020
Source downloaded (UTC): 2026-09-10T02:21:11.923Z to 2026-09-10T02:21:11.923Z Record version: sha256:c81d1814b5e82888d4521cd75a5ea664b0396fe9e710bbceb97f3167b5d952f5 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 958-10-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/958/10/#05-overview-and-background) SEC content: no ##### [958-10-05-1](https://asc.understandingaccounting.org/asc/958/10/#958-10-05-1) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:11.923Z to 2026-09-10T02:21:11.923Z Record version: sha256:56b673355d5af67effc78c689a18885e9ac12f0ab3a87d1534f1aabeb7a0c19b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The Not-for-Profit Entities Topic provides guidance for [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) as defined in Section 958-10-15 that are [nongovernmental entities](https://asc.understandingaccounting.org/glossary/n/#nongovernmental-entity "An entity that is not required to issue financial reports in accordance with guidance promulgated by the Governmental Accounting Standards Board or the Federal Accounting Standards Advisory Board."), or as further defined in the Scope Sections of the individual Subtopics. Guidance in other Topics and Subtopics applies to NFPs unless the specific Scope Sections exempt NFPs or the subject matter precludes applicability (for example, payment of dividends). ##### [958-10-05-2](https://asc.understandingaccounting.org/asc/958/10/#958-10-05-2) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:11.923Z to 2026-09-10T02:21:11.923Z Record version: sha256:b86b3c3a7cc94421a6031e694c32ce0ca0f9f7b171d7171dc9649ca4f78eafda Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. This Topic includes the following Subtopics: 1. a Overall 2. b Financially Interrelated Entities 3. c Split-Interest Agreements 4. d Presentation of Financial Statements 5. e Balance Sheet 6. f Income Statement 7. g Statement of Cash Flows 8. h Receivables 9. i Investments—Debt Securities 10. ii Investments—Equity Securities 11. j Investments—Other 12. k Property, Plant, and Equipment 13. l Liabilities 14. m Contingencies 15. n Revenue Recognition—Contributions 16. o Compensation—Retirement Benefits 17. p Other Expenses 18. pp Business Combinations (Mergers and Acquisitions) 19. q Consolidation. ##### [958-10-05-3](https://asc.understandingaccounting.org/asc/958/10/#958-10-05-3) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:11.923Z to 2026-09-10T02:21:11.923Z Record version: sha256:d64a083e8f24f1f68d4dfa6a8de11475d56b4e1ab2e27ff4ed69569a31ca3a2b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The Overall Subtopic provides guidance on the scope of this Topic as well as relationships to other Topics in the Codification. 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. Source downloaded (UTC): 2026-09-10T02:21:19.605Z to 2026-09-10T02:21:19.605Z Record version: sha256:aee920a2b262d9d75d1ef403d0b58c8af0c8e1a3cee4fc2ae04452e5c028a2c7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 958-10-45: 45 Other Presentation Matters [Read section](https://asc.understandingaccounting.org/asc/958/10/#45-other-presentation-matters) SEC content: no ##### [958-10-45-1](https://asc.understandingaccounting.org/asc/958/10/#958-10-45-1) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:19.605Z to 2026-09-10T02:21:19.605Z Record version: sha256:f455f98eaa5dd01f6cf5aa9f97de7d8fc75d3b3d3263da52c07588a154680eaf Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. When applying the guidance in other Topics and Subtopics, NFPs shall follow that guidance in an analogous manner that is appropriate for their method of reporting financial performance and financial position (the reporting model defined in this Topic). NFPs shall consider the reporting objectives of the guidance when exercising judgment about how best to display elements, such as in which net asset class. Source downloaded (UTC): 2026-09-10T02:21:22.158Z to 2026-09-10T02:21:22.158Z Record version: sha256:a65cc8ad50dbe46ced2a37722a5aae89b1c336510680d4440434f42535c2d06f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 958-10-60: 60 Relationships [Read section](https://asc.understandingaccounting.org/asc/958/10/#60-relationships) SEC content: no #### Health Care Entities ##### [958-10-60-1](https://asc.understandingaccounting.org/asc/958/10/#958-10-60-1) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:22.158Z to 2026-09-10T02:21:22.158Z Record version: sha256:9e87a6b221f89262c315ccc3d26f0c58394ae87466316db99b8081ea338aefe0 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. For additional standards that apply to [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) that are not-for-profit, business-oriented health care entities, see Topic 954. Source downloaded (UTC): 2026-09-10T02:21:24.673Z to 2026-09-10T02:21:24.673Z Record version: sha256:28883557732fa09d2234911a154c9b912292c9627c382b9b3a95ff6244e001c8 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 958-10-65: 65 Transition and Open Effective Date Information [Read section](https://asc.understandingaccounting.org/asc/958/10/#65-transition-and-open-effective-date-information) SEC content: no ##### [958-10-65-1](https://asc.understandingaccounting.org/asc/958/10/#958-10-65-1) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:24.673Z to 2026-09-10T02:21:24.673Z Record version: sha256:f3cf4b47467e1565e84772e194ebdb142e07121e25a21688e140717bb00810f8 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Paragraph superseded on 1/31/2020 after the end of the transition period stated in _Accounting Standards Update No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities._ ##### [958-10-65-2](https://asc.understandingaccounting.org/asc/958/10/#958-10-65-2) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:24.673Z to 2026-09-10T02:21:24.673Z Record version: sha256:871699c3d4f6958ef4eea973cd5596fef8448347990837f07314e32e4683356f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Paragraph superseded on 08/19/2021 after the end of the transition period stated in Accounting Standards Update No. 2018-08, _Not-for-Profit Entities (Topic 958): Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made_. ##### [958-10-65-3](https://asc.understandingaccounting.org/asc/958/10/#958-10-65-3) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:24.673Z to 2026-09-10T02:21:24.673Z Record version: sha256:0bf433b343d6e4f6270cbed499a6961776861fb305f233bf296ddc0778699041 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Paragraph superseded on 08/19/2021 after the end of the transition period stated in Accounting Standards Update No. 2019-03, _Not-for-Profit Entities (Topic 958): Updating the Definition of_ Collections. ##### [958-10-65-4](https://asc.understandingaccounting.org/asc/958/10/#958-10-65-4) Pending content: no Source downloaded (UTC): 2026-09-10T02:21:24.673Z to 2026-09-10T02:21:24.673Z Record version: sha256:a6fd7764502d7e2df65a1d566f59ca3a6cfdeb996ab0286a539582f7b080798a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Paragraph superseded on 09/24/2024 after the end of the transition period stated in Accounting Standards Update No. 2020-07, _Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets_.