Explain When Donated Materials Should Be Recognized as a Contribution

question 65

Essay

Explain when donated materials should be recognized as a contribution and as an expense by a nongovernmental not-for-profit organization.

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Definitions:

Affiliated Director

A board member who has a close relationship with the company or its principals, which could affect impartiality.

Day-to-Day

Describes activities or tasks that occur on a regular, daily basis, often relating to routine or ordinary operations.

Corporation

A legal entity that is separate and distinct from its owners, who are shareholders, and is authorized to act as a single entity.

Officer

typically refers to a person holding a position of authority within an organization, especially within the military or law enforcement, but also in corporate and governmental contexts.