ADMS 4520 Lecture : lecture_12 notes.docx

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Nfpos differ from profit oriented organizations in the following ways: in fulfilling their objectives, they typically provide services or goods to identifiable segments of society without the expectation of profit, their resources are provided by individual and government contributors without the expectation of gain or repayment; often these contributions have restrictions attached to them, they have no readily identifiable ownership interests that can be sold, transferred, or redeemed, they are governed by volunteers although some nfpos also have paid employees. Funding received by nfpos can be categorized as unrestricted or restricted: unrestricted resources can be used for any purpose consistent with the nfpo"s goals and objectives, restricted resources can only be used as specified by the external contributor, e. g. a donation may be received with a condition that it be spent in some specified manner, endowments are restricted donations that must be maintained in perpetuity by the organization, only the interest earned on the endowed funds can be spent.

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