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 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.
Temporarily restricted net assets released from restriction consist of the following for the years ending April 30:
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.
117 Total Current Liabilities $388,470 LONG-TERM LIABILITIES Postretirement health benefits obligations $136,275 NET ASSETS Unrestricted net assets 340,778 Temporarily restricted net assets Life members net assets -0- Total Net Assets $865,523 TOTAL LIABILITIES AND NET ASSETS $865,523 TOTAL REVENUE $1,385,613 TOTAL EXPENSES $1,915,432 REVENUE OVER EXPENSE AND SUPPORT $(529,819) Table 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.
Temporarily restricted net assets are those whose use has been restricted or that have been limited by donors to a specific time period or purpose.
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.
all revenues, expenses, gains, and losses that are not changes in permanently or temporarily restricted net assets, and reclassifications from (or to) other classes of net assets (SFAC # 6, paragraph 94).
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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