Instructions For Schedule D (Form 990) - Supplemental Financial Statements

organization’s accounting for

statements that describe these

funds as its assets or liabilities on Form

conservation easements and the basis

collection items.

990, Part X, it must report the fund

for its reporting position (for example,

balances on lines 1c through 1f.

Line 1b. If an organization has

FASB EITF 02-7, Example 1 (now

elected to capitalize its collections,

Example 2. An organization

codified in ASC 350-30-55-29 to

provide on line 1(b)(i) the revenues

providing down-payment assistance

55-32)).

relating to its collection items that are

that collects amounts from donors to be

reported on Form 990, Part VIII, line 1.

used toward the purchase of qualifying

The organization must report

Also, provide on line 1(b)(ii) the value of

housing can hold funds in an escrow or

any qualified conservation

the organization’s collection items

custodial account. If the organization

contributions and contributions

CAUTION

reported as total assets on Form 990,

acts as a go-between and does not

of conservation easements in Form

Part X, line 16, column (B).

report these funds as its assets or

990, Part VIII, Statement of Revenue;

liabilities on Form 990, Part X, it must

Schedule A (Form 990 or 990-EZ);

Line 2. If an organization has received

report the fund balances on lines 1c

Schedule B (Form 990 or 990-EZ); and

or held collections for financial gain,

through 1f.

Schedule M (Form 990) consistently

provide on line 2(a) the revenues

with how it reports revenue from such

reported as to these collection items

Line 2. If the organization answered

contributions in its books, records, and

from the total revenues included on

“Yes” to line 2a, explain in Part XIV the

financial statements.

Form 990, Part VIII, line 1. Also,

arrangements under which the amounts

provide on line 2(b) the asset value

reported on Form 990, Part X, line 21,

Part III. Organizations

assigned to these collection items,

are held, including any obligations the

which value should also be reported as

Maintaining Collections

organization has to other persons under

part of the organization’s total assets

such arrangements.

of Art, Historical

reported on Form 990, Part X.

Part V. Endowment

Line 3. Based upon the organization’s

Treasures, or Other

acquisition, accession, and other

Funds

Similar Assets

records, check all boxes that best

describe how the organization utilizes

Complete Part V if the organization

Complete Part III if the organization

its collections, including the collection’s

answered “Yes” to Form 990, Part IV,

most significant use.

line 10. For Part V, the definitions of

line 8.

endowments and types of

Line 4. On Part XIV, provide a

Organizations that receive

endowments are governed by SFAS

description of the organization’s

contributions of works of art,

117, paragraphs 14 through 17 (ASC

collections and explain how these

historical treasures, and similar

958-210 and 958-225). Information

collections further the organization’s

assets that do not maintain collections

reported in Part V should pertain to the

exempt purposes.

as described in SFAS 116 (ASC

aggregate of the endowment assets

Line 5. Answer “Yes” to line 5 if during

958-360-20) are not required to

held by the organization, organizations

the year the organization solicited or

complete Part III, but may be required

formed and maintained exclusively to

received donations of art, historical

to complete Schedule M.

further one or more exempt purposes of

treasures, or other similar assets to be

For lines 1 and 2, refer to SFAS 116

the organization, and organizations that

sold in order to raise funds rather than

(ASC 958) for meanings of the various

hold endowment funds for the benefit of

to be maintained as part of the

terms.

the organization.

organization’s collection.

Lines 1 and 2. Pursuant to SFAS 116

Temporarily restricted

(ASC 958-360-25), certain

Part IV. Escrow and

endowments include endowment

organizations can choose one of two

funds established by donor-restricted

Custodial Arrangements

methods to report collections of works

gifts that are maintained to provide a

of art, historical treasures, or other

Complete Part IV if the organization

source of income for either a specified

similar assets held for public exhibition,

answered “Yes” to Form 990, Part IV,

period of time or until a specific event

education, or research in furtherance of

line 9, regarding escrow or custodial

occurs (see SFAS 117 (ASC

public service. An organization that

accounts or arrangements.

958-205-45)), as well as all other

does not recognize and capitalize its

temporarily restricted net assets held in

Lines 1a through 1f. If the

collections for financial statement

a donor-restricted endowment,

organization acts as an agent, trustee,

purposes will report its collections on

including unappropriated income from

custodian or other intermediary for

the face of its statement of activities,

permanent endowments that is not

funds payable to other organizations or

separately from revenues, expenses,

subject to a permanent restriction.

individuals and has not reported those

gains, losses, and assets. An

amounts on Form 990, Part X, as an

Permanent (true) endowments are

organization that recognizes and

asset or liability, check “Yes” and

endowment funds that are established

capitalizes its collections for financial

provide an explanation of the

by donor-restricted gifts and are

statement purposes will report its

arrangement in Part XIV.

maintained to provide a permanent

collections as assets and revenues

source of income, with the stipulation

Organizations that maintain escrow

based upon its fair value measurement.

that principal must be invested and kept

or custodial accounts not reported on

Line 1 pertains to collection items held

intact in perpetuity, while only the

Form 990, Part X, must record

by the organization in furtherance of

income generated can be used by the

increases or decreases in such

public service, and line 2 pertains to

organization.

accounts by completing lines 1c

collection items held by the

through 1f.

organization for financial gain, as those

Board-designated endowments, or

terms are described in SFAS 116 (ASC

Example 1. A credit counseling

quasi-endowments, are endowments

958).

organization that collects amounts from

established by the organization itself,

Line 1a. If an organization has

debtors to remit to creditors can hold

either from unrestricted donor or

elected not to capitalize its collections,

funds in an escrow or custodial

organizational funds, over which the

then provide in Part XIV the footnote(s)

account. If the organization acts as a

organization itself imposes restrictions

to the organization’s financial

go-between and does not report these

on their use, and which restrictions can

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Instructions For Schedule D (Form 990) - Supplemental Financial Statements - 2011 Page 4

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