When nongovernment VHWOs and ONPOs hold fund-raising events such as banquets, auctions, and bazaars, the gross receipts

Question:

When nongovernment VHWOs and ONPOs hold fund-raising events such as banquets, auctions, and bazaars, the gross receipts must often be reported as revenues. Explain or illustrate how the direct costs of these special fund-raising events are to be reported. Also, may these nongovernment organizations report the special event using the net method?