The following definitions shall apply with respect to the policies described in this manual:

Contribution – An unconditional transfer of cash or other assets to the Agency, or a settlement or cancellation of the Agency’s liabilities, in a voluntary nonreciprocal transfer by another entity or individual.

Condition – A donor-imposed stipulation that specifies a future and uncertain event whose occurrence or failure to occur gives the promisor a right of return of the assets it has transferred to the Agency or releases the promisor from its obligation to transfer its assets. In practical terms, this means a donor has imposed some type of stipulation other than a purpose or time period stipulation (which is defined as a restriction below) and that condition has some degree of uncertainty as to whether or not it will occur, and if the condition is not met, the Agency is not entitled to the contribution. Conditions may or may not be within the control of the Agency.

Restriction – A donor-imposed stipulation that specifies a use for the contributed asset that is either limited to a more specific future time period or is more specific than the broad limits resulting from the nature of the Agency, the environment in which it operates, and the purposes specified in NCWVCAA’s articles of incorporation and bylaws. Restrictions on NCWVCAA’s use of an asset may be temporary or permanent.

Nonreciprocal Transfer – A transaction in which an entity incurs a liability or transfers assets to NCWVCAA without directly receiving value from NCWVCAA in exchange.

Promise to Give – A written or oral agreement to contribute cash or other assets to NCWVCAA.

Exchange Transaction – A reciprocal transaction in which NCWVCAA and another entity each receive and sacrifice something of approximately equal value.