The objective of this exercise is to familiarize you with the key indicators and terms used by not-for-profit entities.
Go to the Forbes list of the 200 largest U.S. Charities for the most recent year available. For example, for 2011: http://www.forbes.com/lists/2011/14/200-largest-us-charities-11.htmlAnswer the following questions.
2) This problem summarizes typical transactions engaged in by not-for-profit organizations.
The American Association for Freedom, a political think tank, was recently established. During its first year of operations it engaged in the following transactions and was affected by the following events (in summary form):