historian said:
I'm surprised total revenue isn't higher. I seem to remember Baylor receiving some huge gifts from wealthy alumni in the past couple years, some for 8 or 9 figures. Or is that not included in "revenue from all sources"?
Maybe. It all depends on the language of the gift.
Revenue under GAAP accounting rules is recorded when the contribution is an unconditional promise to give.
"I'll give you $10,000,000 for the building". Recognize today.
"I'll give you $10,000,000 for the building with $2,000,000 now, $3M upon completion and the remainder after two years following."
$2M recognized now. The rest recognized when the conditions are met. (Bldg completion; 2 yrs later)