NFP org receives donations, does not consider profits to be an end (although they will likely be a means to the org’s ends), & does not have owners. Voluntary Health & Welfare Org.s are NFPs that are primarily supported by donations, as opposed to revenues from the sale of goods or services. Their activities are generally focused on health & welfare problems. The Red Cross is an example ofVHWO. Hospitals not included b/c of substantial revenues.
None. Under current accounting rules, all not-for-profit organizations are required to depreciate their buildings and equipment.
Yes, depreciation of buildings and equipment is required for health care organizations. Unless superseded by the health care accounting and audit guide or clearly inappropriate, health care organizations follow GAAP used by other for-profit and not-for-profit organizations. GAAP requires depreciation for both, thus health care organizations must employ depreciation.
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