Responding to COVID-19: insight, support and guidance

Common Issues - Non-exchange Income

Non-exchange transactions are a common feature in the not-for-profit sector.

Many of the key income streams for the sector involve non-exchange transactions where funds are received where the donors does not expect to personally received goods or services of equal value in return.

The section looks at six issues frequently encountered by NFPs in recognising and valuing non-exchange income.


Throughout the section the term ‘entity’ or ‘NFP’ is used to denote a ‘not-for-profit’ organisations. This term can incorporate a range of different types of entities, which varies between jurisdictions. This section of the platform provides an overview of those entities included in the scope of a NFP organisation specific to each jurisdiction.

The term ‘income’ is used in the section to denote revenue/donations/non-exchange income/exchange income/contributions. The specific category of income is included in parenthesis.

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Accounting for volunteer time

Accounting for donations for resale

Accounting for donated assets

Accounting for donor/grantor stipulations

Accounting for income received for future activities

Accounting for legacies/bequests