With the signed grant agreement in hand, now how should it be recorded?
Can a grant from a government agency be a contribution?
Over the past several years, “grant” agreements have become more complex and more robust, including grant agreements that are styled to look like for-profit contracts. In addition, the accounting rules for revenue recognition were significantly clarified in recent years. And this was all before a deluge of federal funding due to the pandemic. Not-for-profits are in a perfect storm of complexity. This session will focus on some of the recent traps we have seen in classifying “grant” agreements.