E 2-3a. a newly established not-for-profit organization engaged in
E 2-3a. A newly established not-for-profit organization engaged in the following transactions: 1. A donor pledged $1,000,000, giving the organization a legally enforceable 90-day note for the full amount 2. The donor paid $300,000 of the amount pledged 3. The organization purchased a building for $600,000, paying $120,000 and giving a 30-year mortgage note for the balance. The building has a 30-year useful life. When […]
