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unrestricted net assets in non profit
in cleaning up prior year statement of financial position I adjusted net unrestricted assets for non profit to the tax return. this left zero net revenue. However, the unrestricted net asset account in the new year has changed. It is my understanding that Net revenue "rolls into" Unrestricted net assets" similar to net income rolling into equity. Am I incorrect?
I tried to make another JE to unrestricted net assets, but it remains unchanged.
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Other questions
Unrestricted net assets are donations to nonprofit organizations that can be used for general expenses or any other legitimate purpose of the nonprofit. Temporarily restricted net assets are usually earmarked by the donor for a specific program or project and must be used within a set time period. My Mercy