> > Significant Asset Not Required to Be Recognized
958-805-55-35 The following note illustrates the disclosures required by paragraph 958-805-50-2(d)(2).
At June 15, 20X1, NFP F had a conditional promise receivable of $1.4 million from a donor to be used to construct a new after-school youth facility. The promise is conditioned upon NFP F raising an equivalent amount from others by the end of 20X4 to be used for construction of the facility. At the merger date, NFP F had raised $420,000. NFP I expects to successfully raise the remaining amount by the end of 20X4. [FAS 164, paragraph A29, sequence 130.2.2]
> > Conforming Accounting Policies
958-805-55-36 The following note illustrates the disclosure required paragraph 958-805-50-2(e).
Of NFP F’s temporarily restricted net assets at the merger date, $789,000 related to its accounting policy of implying a time restriction on gifts of long- lived assets over the useful life of the donated assets. NFP G and NFP H had elected not to imply a time restriction on those types of gifts, and NFP I has conformed its policy to that of NFP G and NFP H. Thus, the time restriction on NFP F’s donated long-lived assets was removed, which increased the opening balance of NFP I’s unrestricted net assets by $789,000. [FAS 164, paragraph A29, sequence 130.2.3]
> > Major Classes of Assets, Liabilities, and Net Assets
958-805-55-37 The following note illustrates the disclosures required by paragraph 958-805-50-2(d), and also shows the reclassification discussed in the note illustrated in the preceding paragraph.