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Patrimonio

English translation: (net) assets

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Patrimonio
English translation:(net) assets
Entered by: Sandra Pérez

03:46 Apr 4, 2022
Spanish to English translations [PRO]
Law/Patents - Law (general) / Bylaws
Spanish term or phrase: Patrimonio
¡Hola! De antemano gracias por la ayuda. (Peru)
Estoy traduciendo los estatutos de una ONG y me he encontrado con la palabra *Patrimonio*
Título xx. Patrimonio
Artículo xx. El *patrimonio* de la asociación será el que arroje su balance y no podrá distribuirse directa ni indirectamente entre los asociados o partes vinculadas a estos o a aquellas.
Artículo xxx. El *patrimonio* se incrementa con las cotizaciones de los asociados, donaciones, prestación de servicios, convenios, contratos y en general por cualquier otro medio permitido por ley.

¿Podría dejarlo como **Assets** aunque también encontré **Property**? ¿O quizá ambos? No me queda muy claro el uso.
Sandra Pérez
Peru
Local time: 05:48
(net) assets
Explanation:

Net Assets and Liabilities: Statement of Financial Position

The presentation of assets and liabilities is the same for both for-profit and nonprofit businesses, except for the balance sheet. For-profit businesses show owner’s equity, which is made up of retained earnings and stock. Nonprofits do not have owners, therefore, there is no owner’ equity. The difference between the total assets and total liabilities is called net assets. This is presented in the Statement of Financial Position.

Net assets in nonprofit accounting are what your organization has, what is owed, what is invested and what is deposited. Liabilities are what your organization owes to others or holds on behalf of others.

The calculation of retained earnings and net assets is essentially the same. It is the cumulative difference between revenue and expenses. For nonprofits, revenue must be assigned as either net assets without donor restrictions, or net assets with donor restrictions.

Net assets represent the net worth of the organization and can be either fixed, liquid (cash), long term, tangible and intangible.

https://www.araize.com/nonprofit-accounting-net-assets/

How Are NGOs Funded?

As nonprofit organizations, NGOs rely on a variety of sources for funding projects, operations, salaries, and other overhead costs. Because the annual budget of an NGO can be in the hundreds of millions (or even billions) of dollars, fundraising efforts are important for the NGO’s existence and success. Funding sources include membership dues; the sale of goods and services; private sector, for-profit companies; philanthropic foundations; grants from local, state, and federal agencies, as well as foreign governments; and private donations.41

Individual private donors can comprise a significant portion of NGO funding. Some of these donations come from wealthy individuals, such as Ted Turner’s $1 billion donation to the United Nations.5 Another example, as reported by CNBC, would be Warren Buffett’s 2006 pledge to give 10 million Berkshire Hathaway Class B shares to the Bill & Melinda Gates Foundation (valued at more than $31 billion in June 2006). As of the end of 2021, Buffett had donated a total of $32.7 billion to the Gates Foundation.6 However, NGOs also can rely on a large number of small donations rather than a small number of large donations.

Despite their independence from government, a number of NGOs rely heavily on government funding to function. Some government NGO funding may be viewed as controversial, because the funding may dampen an NGO’s ability to advocate politically or attempt to achieve radical goals.7

https://www.investopedia.com/ask/answers/13/ngos-get-funding...
Selected response from:

AllegroTrans
United Kingdom
Local time: 11:48
Grading comment
Thanks!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +4(net) assets
AllegroTrans
3Equity
Emiliano Pantoja
2endowment fund, NGO
Adrian MM.
4 -3wealth
Francois Boye


  

Answers


2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
Equity


Explanation:
Valdrían también las que sugieres pero así englobas ambos
NGOs' equity

Emiliano Pantoja
Spain
Local time: 12:48
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 124

Peer comments on this answer (and responses from the answerer)
agree  Luis M. Sosa: Es la opción acertada. Hay un patrimonio inlcuso en ausencia del afán de lucro.
4 hrs
disagree  AllegroTrans: No, "equity" is a term relating to shareholding entities; an NGO has no owners therefore it doesn't have equity https://www.investopedia.com/terms/e/equity.asp; "patrimonio" may double up for both kinds of entity in Sp. but Eng. demands separate terms
4 hrs
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7 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
(net) assets


Explanation:

Net Assets and Liabilities: Statement of Financial Position

The presentation of assets and liabilities is the same for both for-profit and nonprofit businesses, except for the balance sheet. For-profit businesses show owner’s equity, which is made up of retained earnings and stock. Nonprofits do not have owners, therefore, there is no owner’ equity. The difference between the total assets and total liabilities is called net assets. This is presented in the Statement of Financial Position.

Net assets in nonprofit accounting are what your organization has, what is owed, what is invested and what is deposited. Liabilities are what your organization owes to others or holds on behalf of others.

The calculation of retained earnings and net assets is essentially the same. It is the cumulative difference between revenue and expenses. For nonprofits, revenue must be assigned as either net assets without donor restrictions, or net assets with donor restrictions.

Net assets represent the net worth of the organization and can be either fixed, liquid (cash), long term, tangible and intangible.

https://www.araize.com/nonprofit-accounting-net-assets/

How Are NGOs Funded?

As nonprofit organizations, NGOs rely on a variety of sources for funding projects, operations, salaries, and other overhead costs. Because the annual budget of an NGO can be in the hundreds of millions (or even billions) of dollars, fundraising efforts are important for the NGO’s existence and success. Funding sources include membership dues; the sale of goods and services; private sector, for-profit companies; philanthropic foundations; grants from local, state, and federal agencies, as well as foreign governments; and private donations.41

Individual private donors can comprise a significant portion of NGO funding. Some of these donations come from wealthy individuals, such as Ted Turner’s $1 billion donation to the United Nations.5 Another example, as reported by CNBC, would be Warren Buffett’s 2006 pledge to give 10 million Berkshire Hathaway Class B shares to the Bill & Melinda Gates Foundation (valued at more than $31 billion in June 2006). As of the end of 2021, Buffett had donated a total of $32.7 billion to the Gates Foundation.6 However, NGOs also can rely on a large number of small donations rather than a small number of large donations.

Despite their independence from government, a number of NGOs rely heavily on government funding to function. Some government NGO funding may be viewed as controversial, because the funding may dampen an NGO’s ability to advocate politically or attempt to achieve radical goals.7

https://www.investopedia.com/ask/answers/13/ngos-get-funding...

AllegroTrans
United Kingdom
Local time: 11:48
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1656
Grading comment
Thanks!
Notes to answerer
Asker: I really appreciate your help! Much more clear now!


Peer comments on this answer (and responses from the answerer)
agree  Jennifer Levey
1 hr
  -> thanks
agree  philgoddard
2 hrs
  -> thanks
agree  María Paula Palomar
15 hrs
  -> thanks
agree  Lauren Burkinshaw
2 days 3 hrs
  -> thanks
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10 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -3
wealth


Explanation:

Wealth is an accumulation of valuable economic resources that can be measured in terms of either real goods or money value.

Net worth is the most common measure of wealth, determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.

Unlikee income, which is a flow variable, wealth measures the amount of valuable economic goods that have been accumulated at a given point in time.

Francois Boye
United States
Local time: 06:48
Native speaker of: Native in FrenchFrench
PRO pts in category: 167

Peer comments on this answer (and responses from the answerer)
disagree  AllegroTrans: VERY general term but not one that is used in constituting documents, either of a profit or a not-for-profit entity; READ THE CONTEXT (just for once, try it) // go on, fight it out
19 mins
  -> My definition above is not at all general
disagree  philgoddard: Totally inappropriate.
1 hr
  -> Why? Because you have a subjective view of wealth. Did you read the definition of wealth, explained above?
disagree  Jennifer Levey: For any NGO, reference to their 'wealth' would be utterly counter-productive.
1 hr
  -> This is subjective! In the rea world, many NGOs have accumulated valuable resources over time.
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14 hrs   confidence: Answerer confidence 2/5Answerer confidence 2/5
patrimonio, ONG
endowment fund, NGO


Explanation:
I'd have thought 'endowment fund' was a no-brainer for an NGO, but the above comments have made me doubt my lack of dowry.

Example sentence(s):
  • What does an NGO need to set up an endowment fund? First of all, it is necessary to amend the charter or create a subsidiary organisation – a specialised trust management fund.

    Reference: http://www.proz.com/personal-glossaries/entry/8141155-endowm...
    Reference: http://www.wikiwords.org/dictionary/term/662184/1294360
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 578

Peer comments on this answer (and responses from the answerer)
neutral  AllegroTrans: the endowment fund diesn't constitute the whole of the "patrimonio"; surely there are fixed assets etc.?
3 days 4 hrs
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