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Unlike for-profit businesses that exist to generate profits for their owners, nonprofit organizations exist to pursue missions that address the needs of society. Nonprofit organizations serve in a variety of sectors, such as religious, education, health, social services, commerce, amateur sports clubs, and the arts. Nonprofits do not have commercial owners and must rely on funds from contributions, membership dues, program revenues, fundraising events, public and private grants, and investment income.

Not-for-profits have unique needs.  Concepts such as accounting for public funding, donations, and other sources of revenue and expenditures can present different challenges than in for profit organizations.

This course focuses on specific aspects integral to the introduction of accounting for non-profits, including establishing a chart of accounts and exploring the types of revenue that a typical not-for profit organization obtains and how that revenue is accounted for.

Learning Objectives

  • Explore the concepts behind the chart of accounts for a non-profit.
  • Identify accounting principles and basic guidelines in a non-profit.
  • Explore how accounting principles impact non-profit guidelines.
  • Explore funding of a not-for profit including:
    • Grants
    • Contributions
    • Membership
  • Explore how to account for and value donated services.
  • Identify concepts of the middle man.
Last updated/reviewed: September 28, 2018

1 Review (2 ratings)Reviews

4
Anonymous Author
The course was very helpful in understanding the proper accounting of not-for-profit entities.

Prerequisites

Course Complexity: Foundational

No Advanced Preparation or Prerequisites are needed for this course. However, it is recommended to take the other courses in the series prior to completing this one.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTIONS AND OVERVIEW
  6:16Introduction to Accounting for Not-for-Profit Entities
  13:23Chart of Accounts (COA)
  3:30Accounting Principles
  8:55Basic Guidelines
  3:51How Principles:Guidelines Affect FS
  2:05Grants
  11:37Contributions
  8:15Valuing Donations
  1:48Services
  1:53Middle Man
  3:41Membership & Summary
CONTINUOUS PLAY
  1:05:14Accounting for Not-for-Profit Entities
Supporting Materials
  PDFSlides: Accounting for Not-for-Profits Entities
  PDFAccounting for Not-for-Profit Entities Glossary/Index
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM