109. Introduction to Split Interest Agreements

Track: 
Accounting & Auditing
Field of Study: 
Accounting
CPE Credit: 
1.0
Knowledge Level: 
Basic
Advanced Preparation: 
None
Prerequisite: 
None

Monday, June 18, 2018
 
10:50AM-11:40AM

Many not-for-profit organizations rely on split-interest agreements, also known as planned giving, to support their long-term missions. Would you know a split interest agreement if you saw it? Would you know how to account for it? This workshop will cover accounting for the various types of split interest agreements, including charitable lead trusts, charitable gift annuities, pooled income funds, and gifts of real estate with a retained interest. Through various examples of these types of gifts, we will cover the GAAP requirements for initial recognition (including what assumptions and estimates to use), subsequent re-measurement, and financial statement presentation and disclosure. We will explore best practices for controls surrounding identifying, tracking, and recording such agreements.

Learning Objectives:

  • Record the various types of split-interest agreements, including initial entries Learn when and how to re-measure split-interest agreements and how to report them.


SESSION SPEAKER(S)