News
Tibet earthquake, January 7, 2025
The Trans Himalayan Aid Society (TRAS), helping Tibetans in exile since 1962, is deeply saddened by the devastating earthquake in Tibet on January 7, and sends heartfelt condolences to those affected.
Associated Press: Powerful earthquake kills at least 126.
2023-2024 Financial Statements
2023-2024 Audited Financial Statements
There’s an upcoming change to the Accounting Standards for Not-for-Profit Organizations. Previously some organizations (like TRAS) recorded designated donations (e.g. towards a specific project) as restricted funds with revenues recognized on receipt of donations; others recorded them as deferred revenue (it’s not added to revenue until the donation is actually distributed to support the project). Under the new standards, all not-for-profit organizations should record them as deferred revenue. For more information, see this post by Grant Thornton. Accordingly, our auditors recommended that we use the deferred revenue method starting from 2023-2024, and we’ve done so. See “Deferred contributions” on page 3, and the note regarding “Revenue Recognition” on page 6. We still keep track of TRAS’ plans to meet future commitments (projects and scholarships), whether designated donations towards those commitments have been made or not, as shown in note 7.
2024 Fall Newsletter
- 2023-2024 AGM Highlights
- President’s Report
- TRAS Annual Projects Report
- and More!