Rice to Spend $40 Million on Deferred Maintenance

2ndandlong · Post by **2ndandlong** » Thu Oct 20, 2011 9:37 pm

CalallenStang wrote:Spoken like a former accountant

he's a future accountant actually.

CalallenStang · Post by **CalallenStang** » Thu Oct 20, 2011 9:47 pm

2ndandlong wrote:
CalallenStang wrote:Spoken like a former accountant

he's a future accountant actually.

Makes sense.

max the wonder dog · Post by **max the wonder dog** » Thu Oct 20, 2011 9:50 pm

Why does a 501(c)3 care about when expenses go on the books?

Serious question.

smupony94 · Post by **smupony94** » Thu Oct 20, 2011 9:53 pm

max the wonder dog wrote:Why does a 501(c)3 care about when expenses go on the books?

Serious question.

I was too scared to ask same question

gostangs · Post by **gostangs** » Thu Oct 20, 2011 9:55 pm

and by the way - the froggies stadium seems like it will be nice - but i dont know where they are putting 125M - it looks like about half of that.

whitwiki · Post by **whitwiki** » Thu Oct 20, 2011 10:58 pm

Maybe they have a really bad contractor.

HB Pony Dad · Post by **HB Pony Dad** » Fri Oct 21, 2011 1:18 am

whitwiki wrote:Maybe they have a really bad contractor.

From my perspective a REALLY GOOD CONTRACTOR and I'm envious!

Dutch · Post by **Dutch** » Fri Oct 21, 2011 9:10 am

max the wonder dog wrote:Why does a 501(c)3 care about when expenses go on the books?

Serious question.

I don't have much experience with 501(c)3s, so i'll just take a guess at this. if they expense it in a single period then they aren't carrying the cost of that asset out over it's depreciable life. so in subsequent years, they can show the full value of the asset on their books. one way this can be useful is for a line of credit from a financial institution or to show your stability as an institution to donors. just guessing though. anyone else have a clue?