Under FASB, which of the following would be considered contribution revenue or support for a not-for-profit?

• A. In-kind services from volunteers
• B. Money received from a fundraising campaign
• C. Government grant for a capital project
• D. Investment income from endowments

Answer: (B)

Contributions to a not-for-profit under FASB are voluntary, nonreciprocal transfers of assets from donors that are recognized as support when they are received or pledged unconditionally. The clearest example is money from a fundraising campaign, since it represents a donor giving cash with no expectation of receiving something in return, and it is reported as contribution revenue or support (with any donor-imposed restrictions noted as temporarily restricted or unrestricted net assets as appropriate).

In-kind services from volunteers generally aren’t recorded as revenue unless they meet specific criteria (for example, the services involve specialized skills that would have been purchased otherwise). A government grant for a capital project is a government assistance arrangement and, while it can be recorded as support, it is not the typical case of private donor contribution revenue. Investment income from endowments is considered investment income, not contribution revenue.