interests in a for-profit partnership, limited liability company, or similar entity are controlling interests or noncontrolling interests. An NFP shall apply the guidance in paragraph 323-30-35-3 to determine whether a limited liability company should be viewed as similar to a partnership, as opposed to a corporation, for purposes of determining whether noncontrolling interests in a limited liability company or a similar entity should be accounted for in accordance with Subtopic 970-323 or Subtopic 323-10.
An NFP may be required to report an investment described in (c) at fair value in conformity with paragraph 958-320-35-1, or may be permitted to make an election pursuant toin accordance with paragraph 825-10- 25-1. In addition, NFPs other than those within the scope of Topic 954 may be permitted to report an investment described in (b), (c), or (d) at fair value in conformity with Section 958-325-35.
Add Section 958-810-45, with a link to transition paragraph 810-10-65-1, as
follows: Other Presentation Matters General
Presentation of Noncontrolling Interests
consolidated subsidiaries shall be reported as a separate component of the appropriate class of net assets in the consolidated statement of financial position of a not-for-profit entity (NFP). That amount shall be clearly identified and described (for example, as noncontrolling ownership interest in subsidiaries) to distinguish it from the components of net assets of the parent, which includes the parent’s controlling financial interest in its subsidiaries. The effects of donor- imposed restrictions, if any, on a partially owned subsidiary’s net assets shall be reported in accordance with Subtopics 958-205 and 958-320. Example 1 (see paragraphs 958-810-55-17 through 55-25) illustrates the reporting requirements. [FAS 164, paragraph B2, sequence 251]
Add paragraphs 958-810-50-4 through 50-6 and their related heading, with
a link to transition paragraph 810-10-65-1, as follows:
Disclosures for Noncontrolling Interests
958-810-50-4 An NFP (parent) that has one or more consolidated subsidiaries with a noncontrolling interest shall provide a schedule of changes in consolidated net assets attributable to the parent and the noncontrolling interest either in notes to the consolidated financial statements or on the face of financial statements, if practicable. That schedule shall reconcile beginning and ending balances of the parent’s controlling interest and the noncontrolling interests for each class of net assets for which a noncontrolling interest exists during the reporting period. [FAS 164, paragraph B3, sequence 252]