Question

unconditional promise to give and an intention to give

Is it necessary for the nonprofit to record an intention to give on their accounting books?

Answer 1

Unconditional Promise to give is accounted in the books.

But, intention to give is not recorded in the books. Intention to give is generally includes following factors;

1. Donor doesn't provide anything in written or given document is not clear,

2. use of word like intend, may, plan in the given document as stated above

3. Amount is not clear or not determinable readily,

Hence, it is not necessary for the nonprofit to record an intention to give on their accounting books.