Permanently Restricted Funds

In a non-profit's year-end financial statement, money that may not be spent at any time except for specified purposes. Permanently restricted funds are expected to last over the long term. See also: Temporarily restricted funds.

References in periodicals archive ?

Scholarship awards $ 1,060,232 Hydrology research 171,836 Remote sensing awards 103,288 Lecture series awards 50,750 Student travel awards 67,573 Student paper awards 6,705 Building repair 30,000 Pledges receivable 40,000 Cumulative gains on permanently restricted funds 190,749 Charitable gift annuities 252,366 $ 1,973,499

INDEPENDENT AUDITOR'S REPORT

Under the UPMIFA, nonprofits may expend principal from permanently restricted endowment funds--but if permanently restricted funds may be expended, then they are not actually permanently restricted.

Commentary on FASBs proposed changes to nonprofit financial statements: change is welcome, but some conclusions should be revisited

On the other hand, GASB requires even more separation between activity types, including specific groupings for budget activity (unrestricted current funds), temporarily restricted gift funds (restricted current funds), nonoperating funds (primarily state/governmental appropriations), plant/facility/ capital activity, loan fund activity (public debt issuance activity), and the endowment or permanently restricted funds.

Private vs. public higher education budgeting: key differences exist between private and public institutions that affect budgeting in critical ways