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    Donation for the design, construction and outfitting of a new building

    Posted by Angelica on March 2, 2026 at 4:32 pm

    Hi!

    How do you handle releases from restriction for a donation designated “to be used exclusively for the design, construction, and outfitting of the building”? Should the release occur as construction progress is made, or should we wait until the building is placed in service? What is the FASB codification that supports your decision.

    Thank you,

    Angie

    Angelica replied 3 weeks, 3 days ago 2 Members · 2 Replies
  • 2 Replies

  • Susan

    Member
    March 4, 2026 at 5:33 pm

    Angie, You do not need to wait until the building is in service; as long as the restriction is satisfied (the design or construction etc.), you can release the funds (ASC 958-605-45-2).

  • Angelica

    Member
    March 6, 2026 at 7:09 am

    Thank you so much for your response. I’m having a hard time understanding this. I see that 958-605-45-2 has been superseded by ASU No. 2014-09 – Hence this is where my question originated.

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