Identify the four (4) financial statements the Financial Accounting standards Board (FASB) requires Voluntary Health and Welfare Organizations (VHWOs) to report to users. Identify the three (3) categories into which nongovernmental not-for-profits (NFPs) must classify their net assets. Explain the criteria that must be met before donated services can be recorded as contribution revenue and expense in a nongovernmental not-for-profit organization Under FASB a not-for-profit organization, such as a museum, may adopt a policy of not recognizing collections as assets for financial reporting purposes. Identify the three (3) criteria FASB uses to define a collection as works of art, historical treasures or similar assets