nonprofit organizations usually have the following revenues: 1. grants: this can be from Federal, state or local, and could be based on reimbursements or performance. They usually record it based on the monthly reports submitted to funders, or based on the actual contract/agreement 2. contributions: this can be from foundations, companies or individuals. If there's a contract/agreement, you record it when it's signed (of course, you have to check the period covered in the contract), otherwise, record it when you get money 3. program service revenue: record it when service is provided 4. in-kinds: recorded it when accrued. The amount should be either FMV or approved hourly rate (used to be donated service, space, food, etc.)