Functional Expenses

Functional Expenses

The expenses a non-profit organization incurs in executing its programs, in addition to fundraising and management. Functional expenses are reported on the organization's Form 990 and are useful in ensuring that its income is reinvested in the organization and is not in fact profit.
References in periodicals archive ?
org/about-us/financials/) Semper Fi Fund , a group that provides financial and other aid to injured and ill post-9/11 veterans and their families, stated its functional expenses for its 2016 fiscal year.
A new requirement of ASU 2016-14 is to provide information ordinarily included in a statement of functional expenses for all NFPs.
as of June 30 and the related statements of activities, functional expenses and cash flows for the year.
4 million as legal on the Statement of Functional Expenses in its most recent Form 990.
We have audited the accompanying combined financial statements of California Society of Certified Public Accountants (Society) and California Certified Public Accountants Education Foundation (Foundation), which comprise the combined statements of financial position as of April 30, 2014 and 2013, and the related combined statements of activities, functional expenses, and cash flows for the years then ended, and the related notes to the financial statements.
We have audited the accompanying financial statements of the Association for Career and Technical Education (ACTE) which comprise the statements of financial position as of June 30, 2013 and 2012, and the related statements of activities, functional expenses and cash flows for the years then ended, and the related notes to the financial statements.
We have audited the accompanying statement of financial position of the Association for the Advancement of Artificial Intelligence (a California nonprofit corporation) as of December 31, 2011, and the related statements of activities, cash flows and functional expenses for the year then ended.
Part IX is the organization's Statement of Functional Expenses and lists by line item how money was spent.
Reporting only salaries as compensation expense: Reporting compensation of current officers, directors, trustees, and key employees on line 5 of Part IX, Statement of Functional Expenses, should include all forms of salary and benefits, including pension plan contributions, dental or medical insurance, and other employee benefits (whether or not taxable to the employee), not just wages.
of Yes Yes activities and changes in net assets Consolidated statement No Yes of functional expenses Consolidated statement No Yes of cash flows Financial position N/A Yes includes total assets, total liabilities, unrestricted net assets, temp.
Now many groups (38% compared to just 4%) include a statement of functional expenses as part of their financial statements.
Financial statements follow, including: independent auditors' report; statement of financial position; statement of activities and changes in net assets; statement of cash flows; notes to financial statements; and schedule of functional expenses.
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