Temporarily Restricted Net Assets

Temporarily Restricted Net Assets

Cash or other assets that are not needed to pay liabilities but still may not be spent freely for a period of time. Temporarily restricted net assets may be earmarked for a specific purpose; alternately, law or regulation may require the restriction of some net assets until certain benchmarks are met.
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The schedules of unrestricted, board designated net assets-regions and divisions and the schedules of temporarily restricted net assets shown on pages 20-23 are presented for purposes of additional analysis and are not a required part of the financial statements.
Temporarily restricted net assets include net assets subject to donor-imposed stipulations that may or will be met by actions of the Society and/ or the passage of time.
Although the donor did not provide the funds, its requirement to maintain a major repairs and replacements account is a donor-imposed stipulation on the use of resources; accordingly, Delta recorded the $250,000 as temporarily restricted net assets and restricted cash.
IS's year-over-year unrestricted net assets decreased $1.2 million and temporarily restricted net assets declined $632,000.
Table 1 Medical Library Association schedule of changes in net assets by fund year ended December 31, 2015 Net assets Contributions January 1, 2015 and other revenue Unrestricted net assets General operating $(175,700) $2,738,450 Loss on disposal of property -- -- and equipment Total general operating (175,700) 2,738,450 Other funds: Association stabilization 1,487,423 -- Capital equipment 2,228 -- Special purpose -- -- Sections 368,674 48,837 Total unrestricted net assets $1,858,325 $48,837 Temporarily restricted net assets Ysabel Bertolucci MLA Annual 946 -- Meeting Grant Endowment Estelle Brodman Award for the 40,927 -- Academic Medical Librarian of the Year Endowment Naomi C.
GAAP), the organization is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets.
Temporarily Restricted Net Assets are available as follows at July 31, 2011: RI Founding Donor Fund 247,844 Fosters Charitable 379,835 Purpose-Restricted Contributions 68,466 Appreciation of Restricted Funds 195,313 Grants Fund 1,586,719 Campaign for CLF 2,123,164 $4,601,341 Permanently Restricted Net Assets are as follows at July 31, 2011: The advocates Endowment 952,545 Urgent Action Fund 494,189 Beneficial Interest in Trust 158,418 The Brush Fund 130,121 Dave Cavers Fund 453,355 Keith Lane Miller, Esq.
117, the Association is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets.
Temporarily restricted net assets result from: contributions of assets where donors impose limitations that expire as time passes or may be fulfilled by other organization actions, other asset changes subject to similar limitations, and where donors require reclassifications from (or to) other classes of net assets (SFAC # 6, paragraph 93).
When a restriction expires, temporarily restricted net assets are reclassified to unrestricted net assets.
Financial statement presentation: The Association is required to report information regarding its financial position and activities in three classes of net assets: unrestricted net assets which have no donor-imposed restrictions, temporarily restricted net assets which have donor-imposed restrictions that will expire in the future, and permanently restricted net assets which have donor-imposed restrictions which do not expire.

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