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Rice to Spend $40 Million on Deferred Maintenance
Posted: Thu Oct 20, 2011 9:37 pm
by 2ndandlong
CalallenStang wrote:Spoken like a former accountant
he's a future accountant actually.
Re: Rice to Spend $40 Million on Deferred Maintenance
Posted: Thu Oct 20, 2011 9:47 pm
by CalallenStang
2ndandlong wrote:CalallenStang wrote:Spoken like a former accountant
he's a future accountant actually.
Makes sense.
Re: Rice to Spend $40 Million on Deferred Maintenance
Posted: Thu Oct 20, 2011 9:50 pm
by max the wonder dog
Why does a 501(c)3 care about when expenses go on the books?
Serious question.
Rice to Spend $40 Million on Deferred Maintenance
Posted: Thu Oct 20, 2011 9:53 pm
by smupony94
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
Re: Rice to Spend $40 Million on Deferred Maintenance
Posted: Thu Oct 20, 2011 9:55 pm
by gostangs
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.
Re: Rice to Spend $40 Million on Deferred Maintenance
Posted: Thu Oct 20, 2011 10:58 pm
by whitwiki
Maybe they have a really bad contractor.
Re: Rice to Spend $40 Million on Deferred Maintenance
Posted: Fri Oct 21, 2011 1:18 am
by HB Pony Dad
whitwiki wrote:Maybe they have a really bad contractor.
From my perspective a REALLY GOOD CONTRACTOR and I'm envious!
Re: Rice to Spend $40 Million on Deferred Maintenance
Posted: Fri Oct 21, 2011 9:10 am
by Dutch
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?