Under FAS 116, contributions with future payment dates usually would be classified as increasing temporarily restricted net assets.

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Under FAS 116 (now part of ASC 958 due to the FASB Accounting Standards Codification), contributions received with donor-imposed restrictions that limit their use to a specified future period or purpose are reported as temporarily restricted net assets until the restrictions are met. Contributions with future payment dates often come with such restrictions, thus increasing temporarily restricted net assets.

Under FAS 116, Contributions with Future Payment Dates Usually Would