ACC 5180 7188 Not-For-Profit Financial Statement Project 10-1 Be sure you have the financial statements of a private not-for- profit organizations that is NOT a foundation, health care or college/university type of organization. Name of NFP Organization American Cancer Society Part Answer a b d e Part Question a What financial statements are presented? b How are the contribution revenues recognized? c Does the organization have net assets with donor restrictions? What is the nature of the restrictions? d Compute the ratio of program expenses to total expenses. e Review the Statement of Functional Expenses. Indicate what categories the expenses are divided into. Do you think these make sense based on the mission of the organization? Why or why not? Based on your answers to parts d and e is this an organization you would contribute to?