Non-Profit
Beneficial Interest in Perpetual Trust
Recording the fair value of an interest in a trust held by a third party (like a bank).
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Beneficial Interest in Trust | Asset (+) | 75,000.00 | - |
| Contributions (Permanently Restricted) | Revenue (+) | - | 75,000.00 |
💡 Accountant's Note
The NGO doesn't have the cash; a bank does. But because the NGO is the sole beneficiary of the interest forever, it must record the fair value of the trust's assets on its own balance sheet.
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