Homes NFP$,$ a not$-$for$-$profit organization, received an externally restricted contribution. Homes does not have a separate restricted fund for the contribution. Under the restricted fund method, the contribution will be recognized as which of the following?

Options:

$1.$ Revenue in the endowment fund

$2.$ As a direct increase to net assets

$3.$ Revenue in the general fund using the deferral method

$4.$ Revenue in the general fund for unrestricted contributions