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united ways a private not for profit voluntary health and welfare organization recei 607197

United Ways, a private not-for-profit voluntary health and welfare organization, received a contribution of $10,000 from a donor in 2005. The donor did not specify any use restrictions on the contribution; however, the donor specified that the donation should not be used until 2006. The governing board of United Ways spent the contribution in 2006 for fund-raising expenses. For the year ended December 31, 2005, United Ways should report the contribution on its

  1. Statement of financial position as deferred revenue.
  2. Statement of activities as unrestricted revenue.
  3. Statement of financial position as an increase in fund balance.
  4. Statement of activities as temporarily restricted revenue.

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