Julep’s Nonprofit Glossary

-U-

Unconditional Promise to Give: A pledge to make a contribution of cash or another asset without requiring the organization to meet any condition prior to receiving the contribution.

Unit of Service Performance Grant: A funding agreement based on a metric such as units of service, number of volunteers, persons served.

Universal Values: A common set of morals found to be applicable world-wide.

Unrealized Gain or Loss: The increase or decrease in value of an investment asset held by an organization but which has not been received through the sale of the asset.

Unrelated Business Income: Income that is not substantially related to furthering the mission of the organization.

Unrestricted Asset: Asset that can be used as the organization sees fit, in accordance with its mission or purpose.

Unrestricted Funds: A fund not specifically designated for a particular use by the donor, or for which restrictions have expired or been removed. Commonly found at community foundations.

Unrestricted Gift: A gift made by a donor with no limitations on how the gift is to be used. Nonprofits can generally use these gifts towards any purpose.

Unrestricted Net Assets: The portion of net assets not restricted by donor-imposed stipulations. This amount is positive when the sum of historical revenues and gains from unrestricted contributions exceeds the amount of expenses. The amount is negative when the total historical expenses exceeds the unrestricted revenues.

Unrestricted Support Revenues: Revenue from donations that may be used in any way.

Unsecured Loan: A loan made without collateral.