Obtain a copy of the annual report of a private not-for-profit organization. Answer the following questions from the report (if obtaining a report online, use the site search or the “about us” button to locate the annual report). For examples, try the following:

The American Accounting Association             www.aaahq.org   

U.S. Olympic Committee                                   www.usoc.org

Habitat for Humanity                                        www.habitat.org

American Diabetes Association                        www.diabetes.org

Save the Children                                             www.savethechildren.org

a. What financial statements are presented?

b. How are the contribution revenues recognized?

c. Does the organization have temporarily restricted net assets? What is the nature of the restrictions?

d. Does the organization have permanently restricted net assets?

e. Compute the ratio of program expenses to total expenses.