Split-Interest Agreements and Endowments

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Overview

2.0 Credits
ONLINE

Endowments and split-interest agreements are significant sources of support for many not-for-profit organizations. In this CPE course, you will learn how not-for-profits utilize and manage planned gifts. You will work through several scenarios to understand the financial accounting and reporting requirements.

Objectives

  • Differentiate between the various types of endowments and split-interest agreements
  • Determine the correct net asset classification for endowments and split-interest agreements
  • Identify the accounting and reporting requirements, including financial statement presentation and footnote disclosures

Major Topics

  • NFP reporting standards
  • Management of donor-restricted endowments under the Uniform Prudent Management of Institutional Funds Act (UPMIFA)
  • Application of an endowment spending policy
  • Accounting for common split-interest agreements used by NFPs, such as charitable trusts, pooled (life) income funds, and gift annuities
  • Revenue recognition and subsequent valuation of split-interest agreements
  • Financial statement presentation and disclosures related to endowments and split-interest agreements

Designed For

CPAs who are new to NFPs, entry-level staff in public accounting firms, seasoned professionals with limited exposure to NFPs, and NFP board members
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