4. Accounting for Endowments and Annuity and Life Income Gifts

Accounting & Auditing
Field of Study: 
CPE Credit: 
Knowledge Level: 
Advanced Preparation: 
Basic knowledge of not-for-profit operations, auditing, accounting and/or compliance requirements. General experience working in, or auditing, not-for-profits, including those NFPs audited under GAGAS.

Monday, June 18, 2018

Not all endowments are the same, and they often times create complexity and confusion within not-for-profit organizations and lead to potential financial reporting misstatements. This session will provide an overview on accounting for endowments, and explore advanced topics related endowment accounting and financial reporting with specific gift examples, practical guidance on donor relations, and a case study on investment pool accounting. This session will also provide an overview of accounting and financial reporting for annuity and life income gifts along with specific accounting examples, including:

  • Endowment accounting basics refresher
  • Changes to endowment accounting related to ASU 2016-14
  • A variety of gift examples, including an investment pool case study
  • Practical guidance on donor relations
  • Overview of annuity and life income accounting

Learning Objectives:

  • To clarify the key roles and responsibilities of NFP boards as an integral part of an organizaton's governance structure.
  • To define what makes boards successful.
  • Learn common errors in accounting and reporting endowments and take away ideas on what to watch out for to avoid making these mistakes


Associate Vice President for Finance and Administration, University of Chicago
Senior Manager, Crowe Horwath LLP