Record the following transactions in the accounts of a nongovernment VHWO or ONPO.
1. Unconditional pledges made to the organization during the year total $1,500,000, including $500,000 restricted by donors to a specific program. All of the donor-restricted pledges are collected during the year and 75% of the other pledges are collected; 20% of the uncollected pledges outstanding at year end are expected to be uncollectible.
2. Cash gifts of $300,000 are collected during the year. These gifts are donor-restricted for permanent (perpetual) endowment purposes.
3. Qualifying costs of $222,000 are incurred for the program for which donor-restricted pledges were received.
4. Conditional pledges made to the organization during the year total $90,000 (without restrictions on use). None were collected during the year.