Nonprofit Fund Accounting: Difference Between a Fund and Program

August 21, 2018

In previous topics on nonprofit fund accounting we explained why nonprofits need to use fund accounting and its importance in presenting their financial statements. There is a lot of confusion as to what should be classified as a fund, and what should be classified as a program, or functional area when setting up your nonprofit accounting system. With the new FASB regulations for nonprofit financial statement presentation, there are only two types of funds, or net assets.

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Founded in 2012, Central Square Foundation is a non-profit philanthropic foundation working with the vision of ensuring quality school education for all children in India. We are driven by our mission to transform the school education system with a focus on improving the learning outcomes of children, especially from low-income communities.

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Spotlight

Central Square Foundation

Founded in 2012, Central Square Foundation is a non-profit philanthropic foundation working with the vision of ensuring quality school education for all children in India. We are driven by our mission to transform the school education system with a focus on improving the learning outcomes of children, especially from low-income communities.

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