Non-Profit Accounting GAAP question

Concerning donations: If a vet discounts her services because we are a non-profit organization, should that be recorded as a Donated Professional Service, per GAAP?
If not, what would be an example or two of a Donated Professional Service per GAAP?
Thanks!
Angela
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

I would ignore or book as discount received.

This is the tricky one. You would have to ask if the donated service should be treated as revenue. If so you will have to maks a reliable estimate based on say the normal charge out rate of the service provider.
Normally the charity will not record donated services as revenue. Some examples I've come across that is NOT recorded includes, management of renovations by a builder, repairs by a tradesman, accounting services provided by an accountant and free audit of a charity.

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

BeanSmart.com is a site by and for consumers of financial services and advice. We are not affiliated with any of the banks, financial services or software manufacturers discussed here. All logos and trade names are the property of their respective owners.

Tax and financial advice you come across on this site is freely given by your peers and professionals on their own time and out of the kindness of their hearts. We can guarantee neither accuracy of such advice nor its applicability for your situation. Simply put, you are fully responsible for the results of using information from this site in real life situations.